Just a few weeks after announcing it was buying New York's First Data Corp. in a $22 billion all-stock deal, Brookfield-based financial technology giant Fiserv Inc. said it has signed the largest, centralized and online real-time account processing client in the company's history – New York Community Bancorp Inc., the parent company of Westbury, N.Y.-based New York Community Bank.
New York Community, with $51.2 billion in assets, is the largest regional bank based in New York by assets. The bank is converting its retail banking and commercial lending capabilities to the Fiserv DNA real-time account processing platform. The package picked by New York Community has more than 40 processing solutions, Fiserv CEO Jeff Yabuki said in an earnings call with analysts on Thursday.
"The combination of modern real-time technology with significant flexibility is allowing us to meet the changing needs of larger financial institutions," Yabuki said.
Fiserv says New York Community Bank is the leading producer of multi-family loans in New York City and serves customers in New York, New Jersey, Florida, Ohio, and Arizona through a network of more than 250 branches.
Read more in the Milwaukee Business Journal.