Banking Fintech News

First Women’s Bank Will Launch with Fiserv Technology to Help Bridge the Gender Gap in Access to Capital

Trustco Bank Picks Fiserv for Digital Platform

Fiserv, a leading global provider of financial services technology solutions, announced First Women’s Bank, a de novo institution in organization with a strategic focus on the women’s economy through small business lending and other financial services, has selected Fiserv to enable the bank’s launch in early 2021. The bank will leverage core processing and a full range of digital engagement technology from Fiserv to bring its unique mission and values to market.

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“One of the key strategies for achieving our mission is to leverage technology to drive growth and deliver an exceptional customer experience”

From a single, flagship location in Chicago, First Women’s Bank plans to leverage technology to serve a diverse national deposit and lending market. While the bank will have a strategic focus on the women’s economy, it will compete across traditional banking verticals for all banking clients.

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First Women’s Bank has also been selected to join the Fiserv Back2Business initiative to help small, minority-owned businesses that have been disproportionately impacted by the effects of the Covid-19 pandemic. Back2Business strengthens small businesses in designated communities through financial support, business expertise, leading technology solutions, strategic partnerships and community engagement, and will come to Chicago in early 2021.

“The mission of First Women’s Bank made them an ideal choice for a Back2Business partner,” said Todd Horvath, head of Account Processing Services at Fiserv. “We look forward to working with them to bring the program to Chicago.”

“First Women’s Bank will be an innovative commercial bank and the only bank in the country with a strategic focus on the women’s economy,” said Marianne Markowitz, president and CEO at First Women’s Bank. “And we’ll be more than a bank. We are building a first-of-its-kind platform to connect small businesses with innovative capital solutions, provide opportunities to promote gender equality, and cultivate a community that fosters strategic partnerships and inclusion.”

“One of the key strategies for achieving our mission is to leverage technology to drive growth and deliver an exceptional customer experience,” said Maria Tabrizi, chief risk officer at First Women’s Bank.

Tabrizi noted how the Fiserv team listened and provided guidance on technology solutions to match the bank’s strategy in order to deliver the desired customer and employee experience. She said a number of newer, integrated digital solutions brought to the table by Fiserv differentiated the company from its competitors.

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