Capitol Federal Savings Bank Chooses MISER(R) Core Processing From Fidelity National Information Services
March 01 2006 - 4:05PM
PR Newswire (US)
With Business Needs Rather Than Technology Driving the Decision,
Bank Finds MISER to be a Complementary Fit With Its Existing
Processes JACKSONVILLE, Fla., March 1 /PRNewswire-FirstCall/ --
Fidelity National Information Services (NYSE:FIS) today announced
that Topeka, KS-based Capitol Federal Savings Bank has signed a
66-month agreement to run FIS' MISER(R) in- house core processing
solution. Capitol Federal, a 112-year-old institution with $8
billion in assets and 37 branches, had been relying on an
internally developed core processing system since the early 1970s.
However, certain components of their existing system could no
longer be upgraded in a cost-effective manner, and the decision was
made to replace the entire system. Because the bank was one of only
a few institutions in the $1 billion to $10 billion range still
running an internally developed system, the decision makers
anticipated that the installation would present different
challenges than the average conversion. For that reason, they
developed an aggressive software selection methodology,
interviewing a large number of existing users and evaluating
functionality in an extremely thorough manner. "Most importantly,
we wanted our business needs to drive our technology decision --
not the other way around," said Bob Roth, Capitol Federal's
information technology director. "MISER is robust in areas that are
important to us, and it's a great fit in terms of our processes."
The MISER solution is a real-time, open and integrated core
processing solution designed to speed processing, manage workflow
and automate banking functions. Developed for mid-tier to large
institutions with complex business and operational needs, the
solution delivers the ability to offer complete deposit and lending
products. In addition, MISER includes advanced online reporting and
analysis tools and capabilities to help institutions manage the
customer relationship. "We applaud Capitol Federal for the
exhaustive due diligence process undertaken," said Santo Cannone,
senior vice president of FIS' Integrated Financial Solutions
division. "We knew that in the end, the value of MISER's robust
capabilities and proven scalability combined with FIS' full range
of products and other best-of-breed solutions would become
self-evident. Once implemented, Capitol Federal will benefit from
unsurpassed customer service capabilities and back-office
efficiencies, along with the ability to more quickly introduce new
products and better manage compliance." About Fidelity National
Information Services, Inc. Fidelity National Information Services,
Inc. (NYSE:FIS) is a leading provider of core processing for
financial institutions; card issuer and transaction processing
services; mortgage loan processing and mortgage-related information
products; and outsourcing services to financial institutions,
retailers, mortgage lenders and real estate professionals. FIS has
processing and technology relationships with 35 of the top 50
global banks, including nine of the top ten. Nearly 50 percent of
all U.S. residential mortgages are processed using FIS software.
Headquartered in Jacksonville, Florida, FIS maintains a strong
global presence, serving over 7,800 financial institutions and over
100,000 retailers in more than 60 countries worldwide. For more
information on Fidelity National Information Services, please visit
http://www.fidelityinfoservices.com/ . FIS is a majority-owned
subsidiary of Fidelity National Financial, Inc. (NYSE:FNF), number
261 on the Fortune 500. More information about FNF can be found at
http://www.fnf.com/ . About Capitol Federal Capitol Federal
Financial is the holding company for Capitol Federal Savings Bank
which operates 37 branch offices in Kansas. This press release
contains statements related to future events and expectations and,
as such, constitutes forward-looking statements. These
forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements of the Company to be different from
those expressed or implied above. The Company expressly disclaims
any duty to update or revise forward- looking statements. The risks
and uncertainties which forward-looking statements are subject to
include, but are not limited to, the effect of governmental
regulations, the economy, competition and other risks detailed from
time to time in the "Management's Discussion and Analysis" section
of the Company's Form 10-K and other reports and filings with the
Securities and Exchange Commission. DATASOURCE: Fidelity National
Information Services, Inc. CONTACT: Mary Waggoner, Sr. Vice
President, Investor Relations, +1-904-854-3282, or , or Michelle
Kersch, Sr. Vice President, Marketing and Corporate Communications,
+1-904-854-5043, or , both of Fidelity National Information
Services, Inc. Web site: http://www.fidelityinfoservices.com/
http://www.fnf.com/
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