Fiserv signs five more credit unions to DNA
07 December 2017 | 1911 views | 0
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that five credit unions, with assets between $400M and $2.7B, will leverage core account processing and additional solutions from Fiserv to enhance their ability to meet the changing needs of retail and commercial members.
Each credit union will utilize DNA® from Fiserv, a flexible, open architecture account processing platform built on modern technologies, together with a variety of integrated surround solutions from Fiserv. This will enable each credit union to enhance operational efficiency, create distinctive and unified member experiences across digital and physical channels, and align future growth with rapidly changing member needs.
Community First Credit Union, based in Appleton, Wis., has been a Fiserv client since 1987. The credit union has more than tripled its membership over the past two decades, growing from $156.5 million to more than $2.7 billion in assets. It is a nine-time winner of the Crystal Performance Award from Raddon®, a Fiserv company, which recognizes the top 3 percent of all credit unions based on an analysis of growth, income, efficiency and margin management.
To sustain its continued growth and performance, Community First Credit Union needed a modern and highly scalable technology platform capable of increasing operational efficiency and supporting the anytime, anywhere expectations of today’s retail and commercial consumers. The credit union selected DNA for its advanced technology, open architecture and automation of manual tasks, along with the Architect™ digital banking platform from Fiserv to enable a seamless digital experience across mobile, tablet and desktop.
The credit union also chose financial, document management, account opening, loan origination, wire transfer and other solutions from Fiserv.
“Upgrading our technology infrastructure with Fiserv enables us to operate even more efficiently and bring our members the convenience they expect from us - whether in our branches, in their homes or on their mobile devices,” says Catherine Tierney, president and CEO, Community First Credit Union. “Our credit union has been a Fiserv client for more than 30 years, and we trust them to deliver the quality, experience, support and innovative solutions we need today and to adapt as our credit union and our members’ needs evolve over time.”
In addition to Community First, Fiserv recently expanded its relationship with four other credit unions, which selected the DNA account processing platform:
• OneAZ Credit Union ($2.0B in assets), based in Phoenix, has selected and is in the process of migrating to DNA. OneAZ CU also selected additional integrated solutions from Fiserv to simplify operations and vendor relationships, and better service retail and commercial loans with a single platform.
• Empower Federal Credit Union ($1.65B in assets), based in Syracuse, NY, wanted a customizable platform that could power its growth strategy. Important to credit union leadership was having the member-centricity DNA allows, as well as streamlining processes to build its member base.
• Clark County Credit Union ($700M in assets), based in Las Vegas, sought to evolve its technology to support a marketplace differentiation strategy. DNA will provide members with faster access to information and enhanced mortgage and business lending offerings, and will help Clark County manage its engagement and relationships with each member as the credit union grows.
• Alliance Credit Union ($430M in assets), based in San Jose, CA, needed a flexible and open system to simplify internal development, minimize manual customization and enable the delivery of innovative products to serve its tech-savvy members. Other factors leading to the credit union’s choice of DNA included the ability to run in a virtual environment, reduce hardware costs and fit into its existing infrastructure.
“Expanding our relationships with these high-performing credit unions demonstrates how the quality and breadth of innovative solutions from Fiserv drives long-term value for our clients and enables them to address fast-changing needs in the financial services market,” said Vincent Brennan, president, Credit Union Solutions, Fiserv.