Continued Commercial Growth Prompts Bremer Financial to Seek FIS' Robust Core Solution
FIS to deliver complete end-to-end solution to meet bank's strategic needs
JACKSONVILLE, Fla.--(BUSINESS WIRE)-- FIS" (NYSE:FIS), the worlds largest provider of banking and payments technology, today announced that Bremer Financial will deploy FIS core banking solution to support the growth of its commercial services. Bremer Financial will also deploy FIS item processing, treasury and cash management, image technology, ACH, branch automation and analytics solutions. Bremer selected FIS for its ability to deliver a true end-to-end core relationship solution that solves the complex challenges facing the growing bank and supports its customer-centric focus.
The comprehensive functionality of FIS core processing solution will enable Bremer Financial to reduce the number of third-party systems used, resulting in significant improvements in operational efficiencies. In addition, Bremer Financial will experience reduced integration costs derived from the tight integration between FIS core processing platform and all components of the total end-to-end solution. This tight integration is key to support a more customer-centric and less product-centric model.
According to industry expert Aite Group, one of the reasons financial institutions are driven to replace their core platforms is to take advantage of new market opportunities. System flexibility, breadth of vendor portfolio, core functionality and ease of integration are key decision points for selecting a new core system.
FIS core processing platform is a great fit for Bremer Financial, as its core processing and integrated solutions will help our bank continue to grow our commercial customer base, said Greg Meidt, senior vice president, Bremer Financial. The solutions service reputation, functionality and integration capabilities will enable us to meet the demands of our customers today and ensure we have the tools to continue competing tomorrow.
Headquartered in St. Paul, Minn., Bremer Financial is an $8.1 billion holding company for Bremer Bank, which offers retail banking, residential mortgage, commercial and agricultural lending, private banking, wealth management, financial planning, insurance, investment and trust services. The bank operates nearly 100 branches in Minnesota, North Dakota and Wisconsin.
FIS delivers comprehensive core solutions that are designed to meet the strategic needs of banks of all sizes. Personalized service, competitive choices and maximum convenience are the standards that set FIS solutions apart and provide clients with the means to meet, and often exceed, their strategic business goals. Financial institutions of every size are turning to FIS for solutions that adapt to their clients changing needs while still driving revenue and mitigating risk.
Serving our clients and their ever-changing needs are on the forefront of FIS strategic initiatives, said Anthony Jabbour , executive vice president, FIS Financial Solutions Group. The advancements in FIS solutions provide our clients with exceptional resources to meet their strategic and competitive differentiation goals. With the ability to streamline its operations and arm its front-office staff with better tools to effectively service customers and cross-sell services, Bremer Financial can ensure it is well-prepared for its planned growth through expanded commercial services.
FIS (NYSE: FIS) is the worlds largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 425 on the Fortune 500 and is a member of Standard & Poors 500® Index. For more information about FIS, visit www.fisglobal.com.
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the Statement Regarding Forward-Looking Information, Risk Factors and other sections of the Companys Form 10-K and other filings with the Securities and Exchange Commission.
Kim Snider, 904.438.6278
Global Marketing and Communications
Mary Waggoner, 904.438.6282
Senior Vice President
FIS Investor Relations
Source: Fidelity National Information Services (FIS)Copyright Business Wire 2012