About the Customer
Silvergate Bank is a wholly owned subsidiary of Silvergate Capital Corporation. Silvergate Bank is dedicated to providing the highest level of personal service to our customers. A commitment to customized banking solutions that satisfy both current and long-term needs is redefining the way our bank partners with companies and individuals. Privately held and headquartered in La Jolla, Calif., Silvergate Bank is a business-focused bank with nearly $1 billion in assets. It has operated in the San Diego area since 1988.
Scope and Challenges
Regularly competes with much larger regional and global banks. Increasingly, its customers were demanding the digital capabilities that larger banks offered–namely, the ability to manage their routine and complex business transactions at any time, from any device. Challenged to convert to a modern core banking system and implement best-in-class business banking capabilities.
Outcome and Implications
Silvergate Bank has implemented a more modern technology environment, using FIS technology solutions, including a new core banking system, wanted to improve integration among products, lower operation costs and better compete with larger financial institutions. Focused on providing the highest level of personal service to customers, Silvergate implemented the new solutions from FIS to better equip the bank and its staff to meet the growing needs of customers. The FIS core banking suite allowed the bank to streamline many of its third-party systems, such as account opening and loan servicing, resulting in improved operational efficiency and cost-effectiveness. By consolidating a wide-range of third-party relationships into FIS solutions that work together and require less oversight, the bank has realized significant efficiency gains. Combined with the quality of FIS’ support teams, that gave bank leaders the confidence that FIS could best position them for a strong future.
“At Silvergate Bank, we’re committed to providing customized banking solutions to our customers that satisfy their needs today and over the long-term, FIS was an exemplary partner throughout this conversion, advocating for our needs and making this the smoothest core conversion anyone here had ever experienced." said Alan Lane, CEO, Silvergate Bank.
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