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Banking industry

United National Bancorp Partners with The BISYS Group

Strategic Insights

— 1 min read

United National Bancorp, a commercial bank holding company headquartered in Bridgewater, New Jersey, has entered into a multi-year agreement with The BISYS Group to provide integrated information processing services, item processing, and deposit services. According to Thomas C. Gregor, chairman and chief executive officer of United National, the partnership will enable the bank to realize significant efficiencies and adapt to the future direction of the company. As part of the agreement, United National will be liquidating its interest in United Financial Services, a third-party services provider that currently handles the bank's information processing services.

Key Takeaways:

  • United National Bancorp has entered into a multi-year agreement with The BISYS Group to provide integrated information processing services, item processing, and deposit services.
  • The partnership is expected to enable United National to realize significant efficiencies and adapt to the future direction of the company.
  • The bank will be liquidating its interest in United Financial Services, a third-party services provider that currently handles the bank's information processing services.
  • United Financial Services was established in 1995 and has allowed United National to realize significant efficiencies through the sharing of technology and processing costs.
  • United National Bancorp is a $1.5 billion asset commercial bank holding company with 28 offices throughout New Jersey.
  • The bank provides a complete range of personal and business banking services, as well as trust and investment services.
  • United Commercial Capital Group, a subsidiary of United National Bank, provides financing solutions for real estate and commercial transactions.

Statistics:

  • United National Bancorp has $1.5 billion in assets.
  • The bank operates 28 offices throughout Essex, Hunterdon, Middlesex, Morris, Somerset, Union, and Warren counties in New Jersey.
  • United Financial Services has been in operation since 1995.
  • The bank plans to go live with BISYS in the future, although no specific date is mentioned.

Sources:

  • A PRNewswire press release, dated February 18 (no specific year mentioned).
  • United National Bancorp's website, http://www.united-national.com.

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