Fiserv Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today details of four recent core account processing conversions, underscoring its commitment to serve credit unions with solutions that are right for them, coupled with technical knowledge and expertise that enable best-in-class results.
In the last few months, Fiserv has partnered with multiple credit unions to develop solution options that fit their unique needs covering In-House and ASP delivery modes with solution bundles that create the most value for credit unions and, in turn, their members. Fiserv implementation experts worked closely with each credit union to deliver account processing conversions that exceeded client expectations. The success of these conversions further reinforces the value that Fiserv delivers to credit unions through its range of account processing options.
"We are honored to have a privileged position in the credit union movement serving more credit unions than any other account processing provider," said Mark Sievewright, president, Credit Union Solutions, Fiserv. "An important element of our account processing strategy is our commitment to provide credit unions with the ability to choose from a full range of Fiserv solutions delivered in a way that drives positive results for them and enables the creation of distinctive value for their members. I am delighted that Abri, MIDFLORIDA, Southeast FCU and Wauna are already seeing the value we strive to deliver through solutions that are right for them and not through a one-size-fits-all approach."
Abri Credit Union
Abri Credit Union is a long-time Fiserv partner, and recently renewed this relationship by adopting the XP2(R) account processing solution from Fiserv. Abri was seeking a highly reliable solution that allows for workflow customization, focuses on service and provides quantifiable results. After a significant review, XP2's offerings, combined with Abri's long-standing satisfaction with Fiserv, won the bid over several major competitor offerings.
The platform's non-program language-based architecture allowed Abri to train its employees on XP2 in a highly customized way. The Fiserv Subject Matter Experts (SME) provided meaningful pre-launch training in multiple core service areas, which resulted in a neain a near-effortless launch, positive responses from employees and no hassle to Abri members.
"We were looking for a solution that truly allowed us to tailor functionality to our needs and were thrilled we didn't have to look too far," said Brian Cedergren, president and CEO with Abri Credit Union. "Our long-standing relationship and satisfaction with Fiserv gave us the partner we knew we wanted, and XP2 gave us the solution we needed. Fiserv exceeded our expectations throughout this process and, while no conversion is perfect, we were pleased with the follow-up, expertise and the excellent coordination we had with the Fiserv on-site team."
$2.1 billion MIDFLORIDA Credit Union required an account processing platform that could scale with its growth ambitions while enhancing its ability to provide exceptional member service. With DNA(TM), MIDFLORIDA gained a 24/7 real time platform offering a 360 degree view of member relationships. The platform's member-centric design, scalability and easy integration with their new and existing Fiserv solutions were key factors in the credit union's decision.
"Thanks to Fiserv and our team at MIDFLORIDA, we had an exceptional implementation of the DNA platform," said Mark Gray, chief information officer with MIDFLORIDA Credit Union. "We were impressed with the Fiserv team's implementation process and their ability to go above and beyond to support our needs throughout the conversion. We were able to stay open for our members during the conversion weekend and are already starting to realize the benefits of the DNA platform in our branches and with our members."
"We are pleased to partner with MIDFLORIDA in helping them achieve their goals through the implementation of DNA and many surround solutions from Fiserv. DNA will help MIDFLORIDA roll out new products quickly and easily with the personalized service its members expect," said Steve Cameron, president, Open Solutions Division, Fiserv. "The flexibility of the platform and the comprehensive solution set offers MIDFLORIDA the opportunity to gain efficiency and automation as it continues to grow for years to come."
Southeast Federal Credit Union
With high growth planned for the future, Southeast Federal Credit Union felt a new account processing solution that better fit expanding needs and plans was needed. Southeast knew Fiserv had the solution and decided to continue the multi-decade relationship by selecting Portico(R) as its new account processing platform. Portico was a perfect fit for Southeast due to its robust built-in features, integration with Fiserv solutions already in use and the ability to get off the ground quickly with its proven Applications Service Provider (ASP) model.
True to its strong reputation for service, the Fiserv team closely collaborated with Southeast experts throughout the conversion as a review board to ensure every element needed was delivered on time, on budget and as promised. The result was a seamless transition to the new platform that had minimal impact on Southeast members.
Wauna Credit Union
Wauna Credit Union required a core processing solution that could grow with it, provide new and developing services, and lower the total cost of ownership. The fully-open architecture of CUnify(TM) was chosen to provide the flexibility, high functionality, and - in this case - in-house management Wauna demanded.
CUnify's relationship-centric database system provides significant value to the expanding credit union's managers, who are hungry for deep customer information and actionable market data. The recent conversion was a success, with a high degree of satisfaction with the immediate improvements in efficiencies.
Fiserv is the U.S. market leader in account processing services for financial institutions. More than one third of U.S. financial institutions rely on Fiserv for account processing solutions and expertise.