RiskTech Forum

Fiserv signs two credit unions

Posted: 19 June 2018  |  Source: Finextra

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Sioux Valley Community Credit Union, based in Sioux City, Iowa and Coulee Dam Federal Credit Union, based in Coulee Dam, Washington, are partnering with Fiserv to create enhanced member experiences and streamline their IT processes.

Both credit unions will move from their current providers to the Portico® core account processing platform with integrated digital and mobile banking solutions from Fiserv.

Sioux Valley Community Credit Union was founded in 1952. The credit union will leverage the technology ecosystem that Fiserv provides to enable the institution’s growth strategy. The credit union’s board saw considerable value in streamlining vendor relationships via the move to Fiserv. In addition to Portico, Sioux Valley will also implement debit and credit processing, digital and mobile banking, and bill payment solutions from Fiserv.

“Our board made the decision that we should push hard toward efficiency and growth,” said John Parks, CEO, Sioux Valley CCU. “We all saw the decision to move to Portico as vital - we needed a technology platform that would allow us to better understand and leverage member data and cut the fat off of process, as well as unified surround solutions that would provide the enhanced experiences members are demanding.”

Coulee Dam FCU was founded in 1941 to serve those working on the Grand Coulee Dam Project. The credit union will partner with Fiserv for a large portion of its technology solutions in addition to core account processing - including online banking, loan origination, and more.

“As we evaluated our systems and needs, it became clear that streamlining technology was a critical step from an efficiency and member experience perspective,” said Shannon Burge, chief information officer, Coulee Dam FCU. “The Portico ecosystem will allow us to expedite internal processes thanks to its integration capabilities and the efficiencies of its hosted ASP technology model. We’re looking forward to making the transition to Fiserv and focusing on delivering value to our members.”

“Delivering intelligent experiences that are intuitive and immediate will allow credit unions to stay in lock-step with member needs,” said Vincent Brennan, president, Credit Union Solutions, Fiserv. “By leveraging a hosted ASP model that includes comprehensive, integrated digital solutions, Sioux Valley CCU and Coulee Dam FCU will be able to streamline technology maintenance while delivering the capabilities members expect.”

With the addition of Sioux Valley CCU and Coulee Dam FCU, the Portico user base continues to grow rapidly - adding 15 signed credit unions or installs over the past 12 months.