New York Community Bancorp is set to switch to Fiserv’s real-time core platform and integrated suite of digital banking and payment solutions to bolster retail banking and commercial lending capabilities.

New York Community Bancorp is the parent company of the New York Community Bank with $51.2bn in assets.

New York Community Bancorp assistant CEO Barbara Tosi-Renna said: “Modernising and streamlining our technology with Fiserv will enable us to meet the heightened digital expectations of depositors and commercial customers while enhancing efficiency and strengthening our competitive position.

“We chose Fiserv because their solutions, integration and expertise put us in the strongest position to succeed in our fast-changing marketplace.”

New York Community Bank digital upgrade

Under the digital transformation process, New York Community Bank will move to DNA platform which is built on an open architecture.

It will also deploy integrated digital solutions from Fiserv including Commercial Center and the open, real-time Dovetail Payments Platform.

Furthermore, the bank will also switch from in-house processing to an ASP model hosted by Fiserv. It will help to increase efficiency and simplify operations.

Fiserv Bank Solutions president Todd Horvath said: “New York Community Bank has found a successful niche and is refining their delivery of customer-focused capabilities through technology that enables innovation, efficiency and differentiation that leads to competitive advantage.”

With more than 250 branches, New York Community Bank is the largest regional lender headquartered in New York by assets.

The bank serves the regions of New York, New Jersey, Florida, Ohio, and Arizona.