PITTSFIELD, Mass., Oct. 5, 2011 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NASDAQ: BHLB) announced that on September 30, 2011, its subsidiary, Berkshire Bank, entered into an agreement with FIS™, the world's largest provider of banking and payments technology, to deploy the FIS Integrated Banking Services (IBS) core processing solution as well as several ancillary solutions including ImageCentre™ item processing, IBS Sales and Service and card production. This investment will enable Berkshire Bank to provide expanded and improved services to customers and achieve long-term efficiencies for the Company as it continues on its path of strategic growth and expansion.
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Berkshire President and CEO Michael P. Daly stated, "Berkshire Bank is delighted to expand our relationship with FIS. IBS is a proven platform that is scalable and flexible enough to meet the evolving needs of our customers and the demands of our growing business. We are looking forward to leveraging the operational efficiencies introduced by the IBS suite to enrich the experience that we currently offer to our customers."
Headquartered in Pittsfield, Mass., Berkshire Bank serves customers through its 60-plus branch network throughout Massachusetts, New York, and Vermont. The $4 billion bank has been an FIS client for a decade utilizing FIS' Qualifile® decisioning solution, debit card processing and the NYCE® Payments Network. Deploying the new solutions provides Berkshire Bank with the capacity to best serve its customers through increased ability to bring new products and services to market quickly and manage the bank's daily operations, while pursuing its growth and acquisition plans through increased functionality.
FIS provides core solutions to meet the unique demands and attributes of each market segment of the financial services industry, ranging from community and mid-tier institutions to large and global commercial banks. Each solution provides a specific market segment with the resources to maximize growth, increase productivity and mitigate risk. IBS is one of the leading outsourced retail and commercial banking solutions among mid-tier U.S. banks. A highly flexible and integrated core banking solution, IBS provides financial institutions with innovative technology, scalability and robust capabilities, making it an ideal solution for growing banks.
"The comprehensive functionality of the IBS core solution will provide Berkshire Bank with the essential tools it needs to effectively serve its current customers, and to fulfill its plan for strategic growth and acquisition," said Anthony Jabbour, Executive Vice President, FIS Financial Solutions Group.