Whatcom Educational CU moves to Fiserv
22 May 2017 | 2489 views | 0
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Whatcom Educational Credit Union (WECU), a $1.4 billion credit union based in Bellingham, Washington, will move from another supplier to Fiserv to advance its commercial and retail operations and support continued growth.
Despite solid member, loan and deposit growth in the past five years, WECU had reached the limits of its current core processing system. The credit union was looking for built-in support for commercial lending and deposits, automation, and strong data and analytics capabilities to enhance its profitability analyses and marketing efforts. WECU also sought integrated digital banking capabilities that would deliver a unified experience aligned with the needs of today’s connected consumers.
The credit union evaluated four providers and selected Fiserv due to the strength and integration of its technology. WECU will implement a range of solutions from Fiserv, including the DNA core account processing platform, and Architect™ for digital banking. WECU is among the more than 100 financial institutions to select DNA since the platform became part of the Fiserv solution set in 2013, and it is the ninth $1 billion-plus financial institution to select DNA in the past six months.
“Our goal is to be a full service, solution-based credit union, offering business and consumer members an experience that is on par with, or exceeds, a large commercial bank or a financial services startup,” said Jennifer Kutcher, president and CEO, WECU. “Fiserv offered the strongest commercial support of all the providers we evaluated, a unified digital solution, and integration with in-branch technology to facilitate an omni-channel experience. They have the technology and know-how to help us move into the future.”
“One of the things that appealed to us about Fiserv is that the products we selected are integrated to work side-by-side and their road maps are aligned,” said Jeff Dykstra, executive vice president, WECU. “The efficiency of being able to work with one provider rather than managing multiple products and vendors is important to us.”
Recognized by industry-leading analysts for its technology, user experience and breadth of functionality, DNA is an open, person-centric core account processing platform built for global collaboration. Architect enables online, mobile, and tablet banking on a single platform, which will enable WECU to deliver a unified digital banking experience across channels. The credit union will add the CheckFree® RXP® electronic bill payment and Popmoney® personal payment solutions for an integrated payment experience.
WECU also selected Weiland™ Account Analysis; SentrySM for network management, hardware and software lifecycle services, data vaulting and recovery services; and solutions for image source capture, item processing and wire transfers.
“Technology is the foundation for the member experience, and is a key component in helping credit unions like WECU deliver the robust capabilities needed to grow in competitive markets,” said Vincent Brennan, president, Credit Union Solutions, Fiserv. “Fiserv is committed to helping WECU fully optimize technology to deliver an outstanding experience to their members.”