First Women’s Bank, a women-led commercial bank with a mission to grow the small business economy and advance the role of women within it, selected Fiserv, a global provider of financial services technology solutions, to enable the bank’s launch in early 2021.
First Women’s will leverage core processing and a range of digital engagement technology from Fiserv to bring its mission and values to market.
From a single flagship location in Chicago, the company plans to leverage technology to serve a diverse national deposit and lending market. While the bank will have a strategic focus on the women’s economy, it will compete across traditional banking verticals for all banking clients.
First Women’s Bank also has been selected to join the Fiserv Back2Business initiative to help small, minority-owned businesses that have been disproportionately impacted by the effects of COVID-19. Back2Business aims to strengthen small businesses in designated communities through financial support, business expertise, leading technology solutions, strategic partnerships and community engagement, and will come to Chicago in early 2021.
“The mission of First Women’s Bank made them an ideal choice for a Back2Business partner,” Todd Horvath, head of account processing services at Fiserv, said. “We look forward to working with them to bring the program to Chicago.”
“First Women’s Bank will be an innovative commercial bank and the only bank in the country with a strategic focus on the women’s economy,” Marianne Markowitz, president and CEO at First Women’s Bank, said. “And we’ll be more than a bank. We are building a first-of-its-kind platform to connect small businesses with innovative capital solutions, provide opportunities to promote gender equality, and cultivate a community that fosters strategic partnerships and inclusion.”
“One of the key strategies for achieving our mission is to leverage technology to drive growth and deliver an exceptional customer experience,” Maria Tabrizi, chief risk officer at First Women’s Bank, said.
“First Women’s Bank is a pioneer, and it is a privilege to be their partner as they build a bank to serve the growing women’s economy,” Danelle Hawig, vice president of segment strategy for bank solutions at Fiserv, said. “We’re committed to enabling the bank to create an intuitive and secure digital experience that reflects their brand and vision.”
