Fiserv has announced that SANASA Development Bank, Colombo, Sri Lanka, has gone live on the Signature bank platform and Teller solution within nine months. These solutions provide a range of account processing, branch tellering and transaction processing functionality. The bank moved completely from a non-branch banking system with standalone back office processes to a flexible account processing solution. In comparable markets, similar conversions using other solutions have taken up to two or more years to implement.
Fiserv says that the bank is now able to put more efficient processes in place and enhance the customer experience through streamlined services. Future products and services can be added easily to the platform. With these benefits, SANASA Development Bank has a cost-effective base for growth as it expands its presence in the rural areas of Sri Lanka through new branches and other non-traditional banking locations. The bank is now using Signature and Teller in flagship and new branches, including a fully operational Jaffna branch, and is converting other branches on a rapid, self-scheduled timeline.
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