Fiserv (NASDAQ: FISV) has found in retail financial service provider Think Money the first client for its new fintech solution Agiliti. A hosted Software-as-a-Service solution (SaaS), Agiliti is aimed at the retail banking industry, with a specific focus on the UK, and should go live at Think Money early next year. A Manchester based financial firm, Think Money, offers retail clients a range of services, from personal account management to mortgages and insurance.
The solution offers a modular approach to transactions and payments across the full range of financial services that a company offers, including current accounts, savings, and loans, secured and unsecured alike. It’s aimed at improving customer experience in all digital channels, as well as helping banks and other financial service providers manage their customer relationships better, across the whole customer lifecycle.
Agiliti has transparent pricing and low set-up and maintenance costs
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Commenting on the deal, Alan Birch, managing director for Agiliti at Fiserv, said: “With clients like Think Money and others expected to be announced soon, we are changing the way banks manage their IT operations. Agiliti has transparent pricing and low set-up and maintenance costs, which supports banks moving to a SaaS model. Agiliti provides service to deliver the IT required while allowing the bank to focus on their market differentiation.”
SaaS is a growing trend across industries, and it could be especially beneficial for banks and other financial service providers as it helps them deliver their services in a faster, though still reliable, way. This new approach to IT operations management lets them focus on their core business in the digital era.
The banking sector, according to Steve Tait, division president of International Group at Fiserv, is “currently undergoing a revolution, which is just entering a new stage that will intensify competition among existing players as well as seeing an influx of new ones. This greater competition is placing increasing demands on service providers and requires them to change the way they handle their IT operations. Adopting products like Agiliti can help both existing and new players gain a competitive advantage in this new environment.”