TruStone FCU implements Acumn from Fiserv

Source: Fiserv

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions and the largest provider of business-driven technology solutions for credit unions, announced today that TruStone Financial Federal Credit Union, headquartered in Plymouth, Minn., has implemented an enterprise-wide banking solution from Fiserv based on the Acumen(R) account processing solution.

With $739 million in assets and more than 60,000 members served through eight branch locations across Minnesota, TruStone Financial selected Fiserv for its ability to deliver a consistent, high-quality member experience across multiple channels while increasing efficiency, optimizing resources and providing tools for continued innovation.

In addition to Acumen, Fiserv solutions selected by the credit union include: Corillian Online(R) for online banking, Mobiliti(TM) for mobile banking, Popmoney(R) for person-to-person payments, CheckFree(R) RXP(R) for online bill payment, AccountCreate(SM) for online account opening, Loan Advantage(SM) for online loan origination, ConvergeIT(R): IVR for audio response, Nautilus(R) for image and report repository, AML Manager for risk management, Prologue(TM) for accounting, Prism Analytics(TM) for member relationship management, Next Multi-Channel Marketing for interaction management, LynxGate(R) for ATM management, Teller Source Capture(TM) for check capture, Fiserv Clearing Network for check processing and WireXchange(R) for wire transfer processing.

"Our selection and implementation of Fiserv solutions has given us the opportunity to completely transform our credit union," said Robert Thompson, senior vice president of Information Technology, TruStone Financial. "With our new, fully integrated suite of solutions provided by one technology partner - Fiserv - we are able to offer our members digital banking services that would not have otherwise been possible. The business benefits from greater efficiency and cost savings throughout our operations and the ability to expand our revenue by offering additional services to our existing and expanding member base."

The implementation of Corillian Online and Mobiliti will make daily financial management easier for members by providing a streamlined and consistent user experience across both the online and mobile channels. Corillian Online also provides new visibility of joint accounts for members. All TruStone Financial accounts owned by a member, joint or single, are available to view via one online banking log-in, whereas previously each account could only be accessed via separate log-ins. With CheckFree RXP, consumers will be able to receive bills from more than 400 national and local companies within their online banking service and will have access to practical bill payment features including expedited payments and reminders. Additionally, the newly enhanced Popmoney service from Fiserv makes it easy to send money or request money from individuals or groups such as clubs, with advanced functionality such as the ability to send e-greetings along with electronic cash.

Other benefits to members following the Fiserv implementation include a reduced timeframe for check processing with greater accuracy, due to the ability for tellers to now capture check data by scanning checks rather than keying in the information manually, and increased security measures to protect members from fraud. In addition, credit union staff will now have a complete view of the member's relationship with TruStone Financial. With this information readily available, staff can provide a more relevant interaction for the member and offer products that would best meet the member's needs.

"With this implementation, TruStone Financial now has a technology suite that can scale to its specifications and provide the advanced banking functions and services desired by its members," said Naseer Nasim, senior vice president, Credit Union Solutions, Fiserv. "This implementation is an example of how Fiserv can provide a comprehensive suite of financial services, integrated with Acumen or our other account processing platforms, to create a total credit union solution."

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