RiskTech Forum

Mexico’s Caja Morelia Valladolid Selects Fiserv for Account Processing and Integrated Channel, Fraud

Posted: 1 November 2012  |  Source: Fiserv

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Caja Morelia Valladolid has selected its Signature® bank platform for account processing. Mexico's second largest savings and loan cooperative with assets of U.S. $235 million, 70 branches and more than 335,000 members, will also utilize Aperio™ for online account opening, Teller for branch management, AML Manager and Fraud Risk Manager™ for risk mitigation and fraud prevention, and Frontier™ for reconciliation management.

"We chose Fiserv due to their experience with financial services in Mexico and a strong history of implementations in Latin America. With the Signature core solution, we know we will be able to manage regulations unique to our country and offer personalized service," said David Servando Martinez, general manager, Caja Morelia Valladolid. "Also, the level of integration across Fiserv solutions will allow our organization to grow as we achieve a higher level of efficiency and potentially reduce total cost of ownership and processing times. With these benefits, we will be able to better serve our members and focus on delivering superior financial services to our market."

Caja Morelia's vision is to be recognized as the Mexican finance cooperative that provides the most innovative and competitive savings and loan products in the marketplace, complemented with a broad scope of financial services to promote a better quality of life for its members and associates. With the selection of Fiserv, this vision is supported by leading edge technology that will allow the organization to serve its members with agility, quality and personalized service through strategic service centers located throughout Mexico.

Fiserv will deliver specialized channel tools through its Aperio and Teller solutions for Caja Morelia Valladolid. Aperio Online Account Opening is an account creation and cross-selling solution that allows new and existing members to open multiple accounts online — anytime, anywhere. The solution is integrated with Signature to ensure that new accounts are opened and ready for use at the end of the account opening process. At the teller line, Teller from Fiserv will give the organization premier functionality for streamlining customer service, offering a full suite of transaction management tools design to automate daily operations.

"Fiserv shares Caja Morelia Valladolid's dedication to providing accessible and innovative financial services. We operate on a service-oriented architecture (SOA) model that delivers a winning combination of integrated products and services to help our clients best deliver quality service to their members," said Rene Salazar, Managing Director for Latin America, the Caribbean and Canada, Fiserv.

Signature from Fiserv is a real-time, multi-lingual, multi-currency, integrated account processing solution for global financial institutions supporting a wide range of deposit and lending products. Benchmarked to 80 million accounts, Signature is a proven solution for mid- to large-size financial institutions in multiple geographies, currently utilized in 45 countries and 21 languages.