Magyar Bank
400 Somerset St,
New Brunswick, 8901, NJ,
United States
New Brunswick, 8901, NJ,
United States
1 732-342-7600
Banking and Financial Services
Magyar Bank Technographics
Magyar Bank Software Purchases and Digital Transformation Initiatives
Discover the latest software purchases and digital transformation initiatives being undertaken by Magyar Bank and its business and technology executives. Each quarter our research team identifies on-prem and cloud applications that are being used by the 98 Magyar Bank employees from the public (Press Releases, Customer References, Testimonials, Case Studies and Success Stories) and proprietary sources.
During our research, we have identified that Magyar Bank has purchased the following applications: Fiserv CheckFree RXP for Payment Processing in 2012, Fiserv Cleartouch Bank Platform for Core Banking in 2012, Fiserv Director for Enterprise Content Management in 2012 and the related IT decision-makers and key stakeholders.
Our database provides customer insight and contextual information on which enterprise applications and software systems Magyar Bank is running and its propensity to invest more and deepen its relationship with Fiserv , MediaMath , Freshworks or identify new suppliers as part of their overall Digital and IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.
We have been analyzing Magyar Bank revenues, which have grown to $19.0 million in 2024, plus its IT budget and roadmap, cloud software purchases, aggregating massive amounts of data points that form the basis of our forecast assumptions for Magyar Bank intention to invest in emerging technologies such as AI, Machine Learning, IoT, Blockchain, Autonomous Database or in cloud-based ERP, HCM, CRM, EPM, Procurement or Treasury applications.
Magyar Bank Data, Technology Stack, and Enterprise Applications
ERP Financial Management
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
| Fiserv | Legacy | Fiserv CheckFree RXP | Payment Processing | ERP Financial Management | n/a | 2012 | 2013 |
In 2012 Magyar Bank implemented Fiserv CheckFree RXP as part of a broader multi-product agreement that established the Fiserv Cleartouch bank platform as the foundation of its core processing environment. The implementation included CheckFree RXP for bill payment, positioned within the Payment Processing category, and was delivered alongside the Cleartouch platform to consolidate product sets and vendor relationships.
The deployment bundled explicit functional modules and capabilities including Director for electronic content management, Branch Source Capture and Merchant Source Capture for remote deposit capture, AML Manager for risk and compliance management, the Fiserv Clearing Network for image exchange, Relationship Pricing for relationship management, eStatements for electronic document delivery, and item processing solutions. Fiserv CheckFree RXP provided centralized bill payment processing while the Cleartouch platform served as the transaction processing and account management backbone.
Integrations focused on image and item flow, document lifecycle, and front-line capture to enable a single processing chain from branch source capture to clearing and electronic delivery. Operational scope targeted Magyar Bank as a community bank with branch operations in Bridgewater, Branchburg, Edison, New Brunswick, North Brunswick and South Brunswick in the United States, aligning branch source capture and merchant deposit capabilities with centralized clearing and content management.
Governance and workflow restructuring emphasized vendor consolidation and process streamlining, moving multiple point solutions into a unified platform set. The bank reported that conversion support was strong, that previously multi-screen processes could be reduced to one or two clicks, and that time to open a new account would be cut by more than half.
Documented outcomes from the engagement included expectations of improved integration, increased efficiencies, expanded product offerings for customers, reduced third-party vendor count, and lower costs for e-statement delivery. Risk and compliance controls were explicitly strengthened through deployment of AML Manager, and item processing workflows were tied to the Fiserv Clearing Network to standardize image exchange and settlement.
|
ERP Services and Operations
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
| Fiserv | Legacy | Fiserv Cleartouch Bank Platform | Core Banking | ERP Services and Operations | n/a | 2012 | 2013 |
|
|
|
|
|
Digital Banking | ERP Services and Operations |
|
2012 | 2013 |
|
Content Management
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
| Fiserv | Legacy | Fiserv Director | Enterprise Content Management | Content Management | n/a | 2012 | 2013 |
In 2012 Magyar Bank implemented Fiserv Director as part of a broader adoption of Fiserv's Cleartouch bank platform. The deployment delivered Enterprise Content Management capabilities to centralize electronic content and document workflows across the bank's retail and back office operations.
The implementation covered multiple functional modules, explicitly deploying Fiserv Director for electronic content management alongside Branch Source Capture and Merchant Source Capture for remote deposit capture, AML Manager for risk and compliance, the Fiserv Clearing Network for image exchange, Relationship Pricing for relationship management, eStatements for electronic document delivery, and item processing solutions. These capabilities were configured to support integrated document management, source capture, risk and compliance management, relationship management, and end to end item processing.
Architecturally the work was anchored on the Cleartouch bank platform, with Fiserv Director serving as the ECM layer for storing and indexing captured images and electronic documents and the Clearing Network enabling interbank image exchange. Operational coverage included Magyar Bank retail branches in Bridgewater, Branchburg, Edison, New Brunswick, North Brunswick and South Brunswick, and tied customer facing channels to back office processing and compliance workflows.
Governance and process changes emphasized vendor consolidation, streamlined operator workflows and tighter integration between channel capture and back office systems. The bank cited goals to enhance integration, lower costs and streamline vendor management, and expected improved integration, increased efficiencies and expanded product offerings while reducing the number of third party vendors. Magyar Bank reported that conversion support from Fiserv was strong, that eStatements became a more cost effective option, that routine processes were reduced to fewer screens, and that the time to open a new account was cut by more than half.
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CRM
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
|
|
|
|
Digital Advertising Platform | CRM |
|
2015 | 2015 |
|
ITSM
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
|
|
|
|
IT Service Management | ITSM |
|
2020 | 2020 |
|
Investment Management
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
|
|
|
|
Trading Platform | Investment Management |
|
2012 | 2013 |
|
TRM
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
|
|
|
|
AML, Fraud and Compliance | TRM |
|
2012 | 2013 |
|
CyberSecurity
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
|
|
|
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DDoS Protection | CyberSecurity |
|
2021 | 2021 |
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Secure Email Gateways (SEGs) | CyberSecurity |
|
2016 | 2016 |
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IT Decision Makers and Key Stakeholders at Magyar Bank
| First Name | Last Name | Title | Function | Department | Phone | |
|---|---|---|---|---|---|---|
| No data found | ||||||
Apps Being Evaluated by Magyar Bank Executives
| Date | Company | Status | Vendor | Product | Category | Market |
|---|---|---|---|---|---|---|
| No data found | ||||||
FAQ - APPS RUN THE WORLD Magyar Bank Technographics
Magyar Bank is a Banking and Financial Services organization based in United States,
with around 98 employees and annual revenues of $19.0 million.
Magyar Bank operates a diverse technology stack with applications such as
Fiserv CheckFree RXP, Fiserv Cleartouch Bank Platform and Fiserv Director,
covering areas like Payment Processing, Core Banking and Enterprise Content Management.
Magyar Bank has invested in cloud applications and AI-driven platforms to optimize efficiency and growth,
collaborating with vendors such as Fiserv.
Magyar Bank recently adopted applications including
F5 Defense.Net in 2021, Freshservice in 2020 and SilverSky Email Protection in 2016,
highlighting its ongoing modernization strategy.
APPS RUN THE WORLD maintains an up-to-date database of Magyar Bank’s key decision makers and IT executives,
available to Premium subscribers.
Our research team continuously updates Magyar Bank’s profile with verified software purchases,
vendor relationships, and digital initiatives identified from public and proprietary sources.
Subscribe to APPS RUN THE WORLD to access the complete Magyar Bank technographics profile,
including detailed breakdowns by category, vendor, and IT decision makers.