Trustco Bank Delivers Enhanced Digital Banking Experiences with Fiserv

News Release

 

BROOKFIELD, Wis., January 27, 2021 – New York-based Trustco Bank (NASDAQ:TRST) is seeing new levels of digital adoption and engagement following the launch of an enhanced digital banking platform from Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions.

“When COVID-19 hit people expected progress to be put on hold, but for us it was the opposite,” said Robert J. McCormick, Chairman, President and Chief Executive Officer at Trustco Bank. “We invested in our digital experience and the reaction from our customers and staff has been overwhelmingly positive.”

Trustco Bank implemented Architect™ from Fiserv, which enables end-to-end digital banking experiences across digital channels, along with integrated solutions for online account opening, digital payments, lending and customer servicing. The bank also automated multiple manual processes as part of the enhancements, saving staff members time and boosting efficiency.

The launch of the new capabilities was particularly timely as customers sought to conduct more daily financial activities digitally and access robust functionality without coming to the branch during the COVID-19 pandemic, leading to substantial increases in digital interactions.

Staff members have been proponents of the new solutions, with adoption of tools like online account opening and mobile deposit being driven by staff who are educating customers on the new experiences. It is these types of interactions that allow Trustco Bank to offer a hometown feel while providing customers with digital experiences that are on par with those of large national banks.

The bank was mindful of selecting a platform that could evolve with their needs as well as those of their customers, and appreciated the strategic vision Fiserv had for digital banking as well as the Architect software development kit (SDK) that allows financial institutions to create custom offerings.

“We want to be the bank that can provide a unique digital experience with a brick and mortar presence, and that means having the right products and services available to meet the evolving needs of customers,” said McCormick. “Fiserv has been a trusted partner to us for more than 15 years, and when it came time to create the most reliable solution, Fiserv was the easy answer.”

The bank continues to expand their digital capabilities and will soon roll out person-to-person (P2P) payment capabilities via Turnkey Service for Zelle® from Fiserv.

“From closed branches to differing banking behaviors, the impact of the pandemic has driven banks to rethink their delivery models, and we won’t see things go back to the way they were,” said Whitney Stewart, president of Digital Channels at Fiserv. “People have found new ways of doing things that are more convenient for them, and those new ways are often digital ways. Trustco Bank is enabling their customers to bank in the way that suits them best.”

In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.

About TrustCo Bank Corp NY

TrustCo Bank Corp NY is a $5.7 billion savings and loan holding company. Through its subsidiary, Trustco Bank, Trustco operates 148 offices in New York, New Jersey, Vermont, Massachusetts and Florida. Trustco has a more than 100-year tradition of providing high-quality services, including a wide variety of deposit and loan products. In addition, Trustco Bank’s Financial Services Department offers a full range of investment services, retirement planning and trust and estate administration services. Trustco Bank is rated as one of the best performing savings banks in the country. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST. For more information, visit www.trustcobank.com.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among FORTUNE World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.

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