California Savings Bank has inked a five-year deal with Aurum Technology, under which the bank will implement Aurum's core processing system and its integrated electronic banking suite. The goal is to speed processing, increase operational efficiencies and deploy more value-based products and services.
The bank chose Plano, Texas-based Aurum based on the stability and scalability of its products plus its integration capabilities, according to Richard Wuerthner, COO at $800 million California Savings.
"It enables us to offer new sources of value to our customers in a much more streamlined and rapid fashion, further enhancing the service that has been our trademark," Wuerthner said.
Aurum's core processing solution, Miser, includes Internet banking, ATM processing and business intelligence, as well as open, XML-based interfaces to third-party products.
Delivered as either an in-house or service bureau solution, Miser offers real-time and POD transaction processing scalable to the needs of de novo banks as well as $25 billion institutions.
California Savings will extend its business model to the Internet using Aurum's integrated electronic banking suite. By deploying additional products and services through electronic delivery channels, such as Internet banking and interactive voice response systems, the bank expects to reach a greatly expanded market, further enhance service levels and accelerate revenue growth.
California Savings was swayed by Aurum's high performance benchmarks and its evolution to open system status, noted Paul Bourke, chairman and CEO of Aurum Technology.