Vernon W. Hill 2nd's planned Metro Bancorp Inc. has decided to convert its core customer-account system to Fiserv Inc.'s CBS product suite, the Brookfield, Wis., financial technology company announced Wednesday.
Metro has contracted to use more than a dozen products and services, the tech vendor said.
Fiserv identified its customer as Commerce Bank/Harrisburg in Pennsylvania, a unit of the $2.1 billion-asset Pennsylvania Commerce Bancorp Inc., which is to become part of Metro Bank.
"Our challenge was to identify a partner that could provide a complete solution — from core system hosting to item processing, from electronic banking to data warehousing — with a conversion process that enables us to uphold our renowned level of customer service," Gary L. Nalbandian, the chairman, president, and chief executive officer of Commerce Bank/Harrisburg, said in Fiserv's announcement.
Mr. Hill and Mr. Nalbandian co-founded Pennsylvania Commerce in 1985. It announced an agreement in November to buy the $965 million-asset Republic Bancorp Inc. of Philadelphia, another company closely affiliated with Mr. Hill, for about $110 million of stock, in order to form Metro Bancorp.
The new banking company is to have dual headquarters in Harrisburg and Philadelphia and 45 branches in central Pennsylvania, the Philadelphia area, and southern New Jersey. Commerce Bank/Harrisburg is to continue operating as Commerce Bank for a limited time. Republic First sites are to be rebranded with the Metro Bank name early this year.