News

Dime Savings Bank outsources core, ATM processing to Fidelity

July 18, 2004

JACKSONVILLE, Fla. - The Dime Savings Bank of Williamsburgh, a subsidiary of Dime Community Bancshares Inc. (Nasdaq: DCOM - News), has signed a six-year agreement to outsource its core and ATM processing services to Fidelity National Financial, (NYSE: FNF - News), a provider of products and outsourced services and solutions to financial institutions and the real estate industry.

In addition, Fidelity will provide network services to maximize security and performance, as well as data warehousing and analytical and executive reporting.

The Dime Savings Bank of Williamsburgh is a $3.37 billion financial institution providing financial services and loans for multi-family housing throughout the metropolitan New York City area. It operates 20 offices in Brooklyn, Queens, the Bronx and Nassau County, as well as a customer call center.

Under the new agreement, Dime's core processing activity will be run on the Fidelity MISER system.The bank will also utilize Fidelity's network services; ATM terminal driving, monitoring and transaction routing capabilities; and ViewPoint Business Intelligence, which combines the MISER database with manipulation tools that will put analytical capabilities into the hands of the bank's staff.

Dime anticipates completing the migration to the Fidelity core and ATM processing solutions in November 2004, and will be supported out of the Charlotte, N.C., data center.