MBSL picks Fiserv for New Core Banking and Front-end Teller Systems
View(s):SINGAPORE – Fiserv Inc, a leading global provider of financial services technology solutions, last week announced that Merchant Bank of Sri Lanka & Finance PLC (MBSL) has selected the Signature® core account processing platform and Teller front-end teller system from Fiserv.
In a media release, Fiserv said in January 2015, the MBSL PLC finance company merged with two subsidiaries, MBSL Savings Bank Ltd and MCSL Financial Services Ltd. With the merger, the branch network grew from 30 to 48 branches with an increase to 100,000 customer accounts. In order to support this larger branch network and customer base, MBSL needed technology that was flexible, scalable and stable.
The company chose Fiserv solutions to help streamline operations and simplify customer management and support. “As our network and the number of customers we serve on a daily basis grew, we realised we needed a new core infrastructure that could provide the stability, flexibility and scalability we require, while also bringing down the cost of supporting multiple systems,” said T. Mutugala, CEO, Merchant Bank of Sri Lanka & Finance PLC. “We sought a reliable technology partner to help us grow our retail financial business and continue to provide excellent service and meet customer needs. Fiserv offered everything we needed with a core banking platform that is proven locally in Sri Lanka and across the globe.”