Fiserv and Kronos Developing Workforce Management Solution

Fiserv, a provider of technology solutions for the financial services sector, announced today that it has formed a partnership with Kronos, a provider of workforce management solutions. Together, they are developing a workforce management product specifically aimed at banks.

The new solution will run on Fiserv's Signature bank platform and will measure worker performance in real time along with transactional and customer data. The system will also automate pay policies.

The companies say that the solution is aimed at boosting branch effectiveness by helping to enhance operational efficiencies, control labor costs, minimize compliance risk and improve customer service.

"There is a strong need for workforce optimization in the financial services industry," said Bob Meara, senior analyst in Celent's banking group, in a news release announcing the partnership. "The addition of this technology to a core financial services technology system and CRM solutions adds a welcome capability to a client base challenged with branch efficiency and effectiveness."