Fiserv has announced its latest advancement in financial technology—an AI-enhanced content management system known as Content Next. Developed in collaboration with enterprise software firm OpenText, the platform aims to streamline operations within financial institutions by automating workflows and reducing operational dependencies. The introduction of Content Next reflects the financial sector’s ongoing effort to meet the demands of digital transformation, marrying artificial intelligence expertise with the longstanding operational needs of banks and credit unions.
In previous developments, financial institutions have focused on migrating from legacy systems to cloud-based architectures in order to maintain competitive advantages and secure sensitive data. While past efforts have addressed foundational IT structures, Content Next represents a more integrated approach by incorporating machine learning and AI functionalities directly into daily business operations. This approach aims to revolutionize document management and workflow efficiency more effectively than earlier solutions. Organizations are looking for technology that not only fits into existing frameworks but also allows for scalability and adaptability, a gap Content Next endeavors to fill.
What Does Content Next Offer?
Content Next aims to centralize document storage, workflow automation, and seamless integration with widely used tools such as Microsoft (NASDAQ:MSFT) 365 and Google (NASDAQ:GOOGL) Workspace. The platform’s artificial intelligence capabilities promise to simplify and accelerate tasks such as document classification, summarization, and automating processes like loan applications and compliance reviews. This functionality decreases companies’ reliance on IT teams, placing power in the hands of business users to independently manage roles and access controls.
Who Benefits from Fiserv’s New Platform?
Financial institutions of all sizes stand to gain from Content Next’s features, which are designed to modernize operations while reducing risk. Credit unions and smaller banks, in particular, are expected to maximize benefits by adopting such innovative tools to improve customer experiences. Whitney Russell from Fiserv describes the platform as “a strategic leap forward in terms of operational modernization.”
“Content Next is more than a technology upgrade — it’s a strategic leap forward in terms of operational modernization, reduction of risk and delivering exceptional experiences across the enterprise,” explained Whitney Russell, president, digital and financial solutions, Fiserv.
The integration of OpenText’s capabilities is identified as a pivotal element in enhancing the overall functionality of Fiserv’s new system, promising significant gains for end users.
Sandy Ono of OpenText expressed that combining the firms’ capabilities is “a game-changer” due to the system’s AI-enabled functionality.
Scheduled for presentation at the upcoming 2025 client conference, Content Next is set to become widely available by 2026, offering ample preparation time for financial entities to transition to this new model. The platform’s anticipated release aims to align with industry objectives for tech-enabled solutions that respond to evolving consumer expectations, which emphasize speed and accessibility.
The upcoming launch of Content Next underscores Fiserv’s commitment to integrating advanced technology into financial services. Its innovative approach provides significant value in meeting modern operational demands. For financial institutions, the transition to such platforms not only supports operational efficiency but is essential to maintaining a competitive edge in a rapidly evolving digital landscape.
