Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions and the largest provider of business-driven technology solutions for credit unions, announced today that Kern Schools Federal Credit Union in Bakersfield, Calif., has signed an agreement to implement the XP2 account processing platform from Fiserv.
After a competitive review of solutions, the $1.3 billion institution chose XP2 and other solutions from Fiserv to enhance technology integration and upgrade member service tools.
In addition to XP2, Kern Schools FCU will implement a full suite of Fiserv solutions to meet the needs of its 195,000 members, including AccountCreatesm for online account opening; AML Manager for regulatory compliance; iCom for predictive cash management; Branch Source Capture for check imaging; ConvergeIT: IVR for audio response; electronic statement processing; Nautilus for enterprise content management; WireXchange for completing end-to-end wire transfers; Corillian Online for Internet banking; CheckFree RXP for online bill payment; Remittance and Check Solutions for item processing; and Mobile Money for mobile banking. Kern Schools Federal Credit Union will implement XP2 in February 2011.
"The modern features and browser-based technology of the XP2 solution will enable us to increase efficiencies throughout our operation and enhance member service," said Stephen Renock, chief executive officer of Kern Schools FCU. "As a large credit union, our technology needs are broad and diverse, so the ability to seamlessly integrate a wide range of Fiserv technology solutions was also very compelling."
"We are pleased to earn the opportunity to expand our client base in California. This agreement reinforces the commitment Fiserv has made to the nation's credit unions, giving them the power to choose from the industry's broadest portfolio of technology solutions. With a comprehensive list of value-add solutions included, this agreement also demonstrates the power of the unified Fiserv approach to support the evolving growth strategies of the largest credit unions," said Naseer Nasim, segment executive for XP2, Credit Union Solutions at Fiserv.
XP2 runs on an open, relational database platform with browser-based applications. The system offers a full suite of soluutions, including newly designed member, teller and lending platforms; electronic services delivery; and automated back-office processing. XP2 uses XML Web services or building block applications that seamlessly connect system components to improve time-to-market for building new products and delivery of upgrades.