BROOKFIELD, Wis.–Fiserv said it has been selected to provide data processing and technology solutions to First Women’s Bank, a de novo institution in organization with a strategic focus on the women’s economy through small business lending and other financial services.
Plans call for the bank to launch in early 2021.
“From a single, flagship location in Chicago, First Women’s Bank plans to leverage technology to serve a diverse national deposit and lending market,” Fiserv said. “While the bank will have a strategic focus on the women’s economy, it will compete across traditional banking verticals for all banking clients.”
Fiserv said First Women’s Bank has also been selected to join the company’s Back2Business initiative to help small, minority-owned businesses that have been disproportionately impacted by the effects of the Covid-19 pandemic.
“Back2Business strengthens 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,” Fiserv said.
“The mission of First Women’s Bank made them an ideal choice for a Back2Business partner,” said Todd Horvath, head of Account Processing Services at Fiserv. “We look forward to working with them to bring the program to Chicago.”
Added Marianne Markowitz, president and CEO at First Women’s Bank, “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. 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.”