Fiserv has signed a contract to provide the technological framework for MetLife, one of the first large financial services companies to expand into banking.
MetLife plans to offer banking products and services next year, taking advantage of the recent Financial Services Modernization Act.
The Fiserv technology includes the Comprehensive Banking System for core processing, as well as an Internet banking front end, a CRM system, call center software, check processing, plastic cards, transferring funds, and back-office services.
“We chose Fiserv for the wide range of services it provides,” said Judy Weiss, MetLife executive vice president. “We’re still in the planning stage, so we need a company that we can work with as we develop the best possible customer services.”
“Fiserv has proven it is uniquely positioned to support this new era of financial services companies,” said Leslie Muma, Fiserv president. “We’re eager to partner with MetLife as they build for success in the banking industry.”
The MetLife companies serve approximately nine million individual households in the US, and companies and institutions with 33 million employees and members. It also has international insurance operations in 12 countries.
Fiserv is an independent, full-service provider of integrated data processing and information management systems to the financial industry. It serves 10,000 financial service providers worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies, mortgage banks and savings institutions. The company’s headquarters are in Brookfield, Wisconsin.