Fiserv (NASDAQ: FISV), the world's leading provider of financial services technology solutions, today announced it has reintroduced the Premier Credit Union Platform as Portico.
The new name coincides with two significant events: the completion of the migration of virtually all Premier credit union clients to the system's new .NET platform and the rebrand of all Fiserv business units as one Fiserv.
Over the last several years, Fiserv migrated the successful, widely adopted Premier service bureau processing solution to the Microsoft .NET platform. The move to .NET reflected a strategy to provide credit unions with greater ease of use and intuitive navigation and to help them streamline operations and enhance service. The renaming of Premier as Portico signals the fruition of that revitalization strategy and the achievement of a key milestone: the completion of the migration of existing Premier clients to the new .NET version. There are 348 credit unions that have chosen to implement this next-generation account processing solution, including nearly every credit union formerly using Premier and 52 new clients signed since the solution was introduced.
"Much like a portico serves as a sheltered thoroughfare to lead you securely along your way to a destination, our Portico solution securely guides our credit union clients along their particular paths to growth and success," said Scott Butler, president, Fiserv Credit Union Solutions. "The new name marks the start of a new chapter in the product's life cycle with Fiserv and our credit union clients moving forward, together to leverage the tangible value of the .NET framework."
The new version of the product is delivering an exceptionally strong value proposition for credit unions, as evidenced by its accelerating market momentum. Since January 2008, 16 credit unions have signed contracts for the solution, including four since the start of this year.
The name change from Premier to Portico also coincides with the recent launch of a new Fiserv brand that unifies all Fiserv business units with a new, enhanced market approach and new brand identity. The new brand affirms the Fiserv commitment to clients and to leading a transformation of financial services technology, with a new icon representing a further acceleration of the company's singular approach to the market. The new brand strategy allows Fiserv to build on a 25-year history of client focus, strength and stability, and to make it easier and more rewarding for clients to do business with Fiserv.