Mi BANK, Michigan’s first de novo bank in a decade, said that it will leverage Fiserv technology and expertise to serve mid-size and commercial businesses.
Mi BANK, which is based in Bloomfield Township, Michigan, is focused on serving the financial needs of mid-size and commercial businesses.
Mi BANK founder, chairman and CEO Rob Farr said: “Local businesses like to bank with local financial institutions that understand the dynamics and challenges they face.
“Fiserv gives us the technology foundation we need and has demonstrated flexibility in accommodating us as a new bank looking to address a gap in our market.”
The banking dynamic in the Bloomfield Township area changed after a wave of acquisitions, allowing Mi BANK to launch its operations.
The bank will combine the principles of community banking with access to the specialized capabilities that businesses need.
Mi BANK has, in the past, used Fiserv’s technology. The present Fiserv solutions and its experience in supporting other de novos, has given confidence for Mi BANK to go ahead with its technology.
With focus on offering resilient technology-driven solutions, Mi BANK will implement full suite of solutions such as core account processing, commercial lending, digital banking, remote deposit capture, wire transfers, and 24/7 account opening services to its customers.
Besides technology implementation, the company will also offer training to Mi BANK’s staff, to help them in maximize features of their technology investment.
Farr continued saying: “Fiserv is providing hands-on support to set up our suite of solutions, doing the heavy lifting and easing the process for our internal staff.”
Fiserv Bank Solutions president Todd Horvath said: “By taking a tech-forward approach, Mi BANK is ready to offer the experiences and capabilities that businesses expect from their financial provider.
“Fiserv offers a springboard to growth for the bank as they prepare to serve customers for years to come.”
Fiserv, which has been providing financial services technology for 35 years, helps clients achieve better results that drive quality in payments, processing services, risk and compliance and customer and channel management.