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N.C. bank signs with Fiserv to target Hispanic, underbanked market
April 7, 2008
BROOKFIELD, Wis. — Information Technology Inc., a business unit of Fiserv Inc., has announced a deal with Nuestro Banco, a de novo in North Carolina.
Nuestro says it is working with Fiserv's ITI to better serve the Hispanic consumer and small-business segments.
"The Hispanic population is growing at 20 percent per year in North Carolina," said David Flores, president and chief executive of Nuestro Banco. "And the group's purchasing power is actually growing faster than the population growth rate."
The Census Bureau estimates that by 2050, one-fourth of the nation's population will be of Hispanic origin, but those of Hispanic descent living in the United State remain "severely underbanked," Flores said.
"The key to capturing their business will be to design new ways to bank — ways that accommodate the Hispanic culture, habits and way of thinking," he said. "We understand these factors, and so does Fiserv."
Nuestro Banco opened in September 2007, and has joined forces with Fiserv ITI to deploy the Premier core system.
The Premier software suite offers scalable products for accounting, branch and Internet banking, business intelligence, risk and compliance, remote capture and transaction management, enterprise business process and content management. Fiserv offers Spanish-language Internet and telephone banking software, online-branding services and a Hispanic Banking Toolkit that provides insight into cultural differences and common barriers to banking for Hispanics.
Banking Executive SummaryDepositsTrends / StatisticsEFT NetworksUnderbanked / UnbankedOtherNorth AmericaPublic CompaniesBank / Credit Union
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