A modern core, fully integrated with a robust suite of banking solutions, will enable Paper City Savings to expand its commercial banking business
LAKE MARY, Fla., Nov. 24, 2020 /PRNewswire/ -- Finastra today announced that Paper City Savings is live on the Fusion Phoenix core, Fusion Digital Banking, as well as solutions for payments, lending and mortgage. Through upgrading to Finastra's flagship open core processing platform and digital banking offering, the bank has transformed into a full-service community bank, positioned for future growth, with an eye on expanding its commercial banking business.
"With the addition of the Fusion Phoenix core and Fusion Digital Banking, which fully integrate with our existing payments and lending solutions from Finastra, we expect to see improved efficiencies that enable us to better serve our existing customers while expanding our commercial business," said Tina Bartram, Operations Officer, Paper City Savings. "We will be able to process loans more quickly and expand to a full suite of commercial products that includes deposit, lending and internet banking."
Paper City Savings has a long history of serving the residential mortgage market in South Wood County, Wisconsin, but identified an opportunity to expand its business into commercial banking with a robust commercial offering. Through the upgraded core and digital banking platforms, the bank is improving its self-service channels and streamlining its lending and mortgage capabilities (through Fusion LaserPro and Fusion Mortgagebot) to process loans much faster. The improved efficiencies, combined with new product offerings addressing bill payments, real-time payments and account-to-account and person-to-person transfers will delight retail and commercial customers alike.
"To meet today's expectations and establish true differentiators in the market, community banks must be able to anticipate customer needs and service them in a way that matches current expectations," said Chris Zingo, SVP and GM of Americas Field Operations, Finastra. "With our Fusion Phoenix core, Paper City Savings will have a total view of the customer based on data from across silos, including retail, commercial deposits, and loan servicing, all within a single database."
About Finastra
Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Supported by the broadest and deepest portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes across the globe, including 90 of the world's top 100 banks. Our open architecture approach brings together a number of partners and innovators. Together we are leading the way in which applications are written, deployed and consumed in financial services to evolve with the changing needs of customers. Learn more at finastra.com
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