Leading fintech solutions provider Fiserv continues its business expansion in the U.S. market. Mi Bank, a Michigan-based bank with a full range of products and services tailored to business owners, will deploy Fiserv’s technology and expertise.
Created to set a new standard of excellence for business banking by providing next-level commitment to service, personalizations, flexibility, and responsiveness, Mi Bank plans to make the best use of Fiserv’s solutions, including core account processing, commercial lending, digital banking, remote deposit capture, wire transfers, and 24/7 account opening.
Rob Farr, founder, chairman and CEO of Mi Bank, commented: “Local businesses like to bank with local financial institutions that understand the dynamics and challenges they face. Fiserv gives us the technology foundation we need and has demonstrated flexibility in accommodating us as a new bank looking to address a gap in our market […] Fiserv is providing hands-on support to set up our suite of solutions, doing the heavy lifting and easing the process for our internal staff.”
Todd Horvath, president, Bank Solutions at Fiserv, said: “By taking a tech-forward approach, Mi BANK is ready to offer the experiences and capabilities that businesses expect from their financial provider. Fiserv offers a springboard to growth for the bank as they prepare to serve customers for years to come.”
Mi Bank, which is launching following a wave of acquisitions in the local banking sector, combines the principles of community banking with access to the specialized capabilities that businesses require. In addition to technology implementation, Fiserv will provide training to bank staff, helping them to maximize the features of their technology investment.
In May 2018, Fiserv became the first financial technology company in the card processing industry to bring Card Risk Office SM Fraud Warning to the market. The solutions, developed by fraud analytics firm Rippleshot, allows financial institutions to identify potential fraud events 30-60 days prior to network alerts.