Two more US credit unions join Fiserv in tech revamp
Illinois Educators Credit Union and Texas-based Members Financial Federal Credit Union have selected Fiserv for their tech overhauls.
Both credit unions will convert from their current core processing providers to the Portico system to “deliver member-focused capabilities”.
Illinois Educators, with $54.8 million in assets and nearly 7,000 members, says it selected Portico for its integrated digital ecosystem and focus on member experience, which will allow the credit union to operate “efficiently”. It also chose debit and credit processing from Fiserv, which is integrated into the Portico ecosystem.
As for Members Financial, it has $45 million in assets and 5,300 members. With the addition of Portico, the credit union will add Fiserv solutions to facilitate loan processing including mobile banking, online banking, electronic bill payment and remote deposit capture.
All in the DNA
Fiserv says more than one-third of US financial institutions use its system for account processing.
Last week, five credit unions in the US opted to implement Fiserv’s DNA core processing platform. The credit unions are Community First Credit Union, OneAZ Credit Union, Empower Federal Credit Union, Clark County Credit Union, Alliance Credit Union.
Back in November, US-based Dime Community Bank also selected DNA to revamp its core banking system.