FIS Modern Banking Platform
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Customers Bank Moves to Modern Core Banking Platform from FIS to Support Growth
April 19, 2018
- Move provides bank with a modern platform for serving its customers and supporting its rapid growth.
- Enhanced capabilities include an intuitive user interface, integrated digital and mobile banking tools, enhanced security controls and anytime statement access.
- Core conversion follows earlier implementation of new FIS core banking platform to BankMobile, a division of Customers Bank.
JACKSONVILLE, Fla., April 19, 2018 – FIS™ (NYSE: FIS), a global leader in financial services and payment technology, today announced that Customers Bank – a $10 billion community-based, full-service bank serving Pennsylvania, New York, New Jersey, Rhode Island, Massachusetts, New Hampshire and Illinois – is one of the latest community-based financial institutions to implement a modern core banking platform from FIS.
As a new FIS core banking client, Customers Bank benefits from a range of enhanced capabilities for serving its customers and supporting its rapid growth.
In recent years, Customers Bank’s assets have increased from $250 million to nearly $10 billion through significant organic growth. The bank, known for its use of leading-edge financial technology, has been recognized by Forbes Magazine and American Banker among top-performing banks in America.
Enhanced capabilities provided by the new FIS core banking platform include a more intuitive and easy-to-navigate user interface, integrated digital and mobile banking tools, enhanced security controls, and anytime access to statements and forms. The FIS platform will also help the bank manage complex regulatory requirements and streamline back-end processes.
“High-tech, high-touch service is our differentiator and calling card at Customers Bank,” said Jay Sidhu, chairman and CEO of Customers Bank. “By moving to a new online and mobile banking platform from FIS, we are able to provide our customers with the advanced services and convenience they are looking for, while giving us the flexibility to support our continued growth.”
“Customers Bank understands the power and importance of financial technology in serving its customers and competing in a highly dynamic marketplace,” said Bruce Lowthers, chief operating officer, Integrated Financial Solutions, FIS. “We look forward to continuing to provide the bank with advanced technology to meet its business goals and continue its growth.”
Customers Bank’s mobile-only division, BankMobile, previously moved to an FIS core banking platform and supporting applications in 2017.
About Customers Bank
Customers Bancorp, Inc. is a bank holding company located in Wyomissing, Pennsylvania, engaged in banking and related businesses through its bank subsidiary, Customers Bank. Customers Bank is a community-based, full-service bank with assets of approximately $9.9 billion at December 31, 2017. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking services to small and medium-sized businesses, professionals, individuals and families through offices in Pennsylvania, as well as Illinois, New York, Rhode Island, Massachusetts, New Hampshire, and New Jersey. Committed to fostering customer loyalty, Customers Bank uses a High Tech/High Touch strategy that includes use of industry-leading technology to provide customers better access to their money, as well as Single Point of Contact banking by appointment at customers’ homes or offices 12 hours a day, seven days a week. Customers Bank offers a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers. Customers Bancorp, Inc. voting common shares are listed on the New York Stock Exchange under the symbol CUBI. Additional information about Customers Bancorp, Inc. can be found on the Company's website, www.customersbank.com.
Established in 2015, BankMobile, a division of Customers Bank, is America’s largest mobile-first bank, offering fee-free checking and savings accounts. It provides target customers—millennials, the underbanked and middle income households—with a digital, effortless, and financially empowering experience. In addition to fee-free checking and savings accounts, BankMobile offers lines of credit, joint accounts and access to over 55,000 surcharge-free ATMs nationwide (BankMobile VIP customers have free access to every ATM in the country, which is more than 400,000 ATMs), a guaranteed higher savings rate than the top four banks in the nation, a personal banker for all customers, and a free financial advisor for VIP customers. BankMobile is operating as the digital banking division of Customers Bank, which is a Federal Reserve regulated and FDIC-insured commercial bank. For more information, please visit www.bankmobile.com.
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 53,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
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