Brookfield, Wis.-based financial services technology provider Fiserv said it recently signed two credit unions to move from their current providers to the company’s Portico core account processing platform with integrated digital and mobile banking solutions.
The credit unions Fiserv signed are: $29 million Sioux Valley Community Credit Union, Sioux City, Iowa, and $142 million Coulee Dam Federal Credit Union, based in Coulee Dam, Wash. According to Fiserv, using the new platform will allow the two CUs to create enhanced member experiences and streamline their IT processes.
Coulee Dam Federal Credit Union
Coulee Dam FCU was founded in 1941 to serve those working on the Grand Coulee Dam Project in Central Washington state. The credit union said it 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,” Shannon Burge, chief information officer for Coulee Dam FCU, said in a statement. “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 are looking forward to making the transition to Fiserv and focusing on delivering value to our members.”
Sioux Valley Community Credit Union
Sioux Valley Community Credit Union was founded in 1952. The credit union said it will leverage the technology ecosystem that Fiserv provides to enable the institution’s growth strategy. The credit union’s board reported it saw “considerable value” in streamlining vendor relationships via the move to Fiserv.
In addition to Portico, Sioux Valley Community CU will 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,” John Parks, Sioux Valley Community CU’s CEO, said in a statement. “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.”
“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 Community Credit Union and Coulee Dam Federal Credit Union, Fiserv said the Portico user base continues to grow rapidly – adding 15 signed credit unions or installs over the past 12 months.
In February, Kawartha Credit Union, Peterborough, Ontario, Canada, signed with the company to use its core processing technology.
Fiserv is a member of the FORTUNE 500 and has been named among the FORTUNE Magazine World's Most Admired Companies for five consecutive years.