Case Study: First Federal Bank achieves a faster, more accurate financial close and greater employee satisfaction with Fiserv Frontier Reconciliation

First Federal Bank Frontier Reconciliation Fuels an Efficient, Accurate Financial Close and Greater Employee Satisfaction

First Federal Bank, a community bank that grew rapidly from $500 million to $2 billion in assets and from nine to 24 branches after several acquisitions, found its manual reconciliation processes overwhelmed by the surge in transactions. The labor-intensive, spreadsheet-driven approach led to slow exception resolution, higher risk of errors or fraud, and overworked accounting staff, so the bank turned to Frontier Reconciliation from Fiserv to automate its reconciliation workflow.

Fiserv implemented Frontier Reconciliation (integrated with the bank’s Prologue Financials) in a five-week deployment, automating daily cash, ACH, ATM, Federal Reserve, loan, deposit and savings account reconciliations. The solution made matches visible instantly, reduced manual intervention and segregation-of-duties controls minimized fraud risk; First Federal now reconciles all daily accounts, resolves exceptions in weeks instead of months, and has improved employee satisfaction and productivity.

First Federal Bank

Brooke Hand

SVP and Controller