Toronto-based DUCA Financial Services Credit Union has selected Fiserv and its DNA core account processing platform with the aim to modernise its operations and improve overall agility and efficiency, reports Alex Hamiton of Fintech Futures (Finovate’s sister publication).
Doug Conick, president and CEO of DUCA, says the credit union’s approach has always been about “high touch” and “high tech.” “We needed an intelligent, agile core platform provider that will strengthen our ability serve members both now and in the future,” he added.
Founded in 1954 as Dutch Canadian Toronto Credit Union, DUCA operates 16 branches and employs more than 260 people. The credit union’s transition to the new core platform will be led by Canadian financial technology provider Celero.
“Our focus is on helping credit unions like DUCA gain the operational and relationship management advantages they need to accelerate their growth strategies,” said Simon Vincent, executive vice president for banking and omnichannel at Celero.
“Through our technology integration experience and relationships with organizations like Fiserv, we are helping drive credit unions’ digital transformation goals forward.”
Rob Palin, general manager for Canada at Fiserv, said that DNA is a system that can provide a “complete view” of member relationships: “Along with our partner, Celero, we are committed to helping DUCA meet its aggressive implementation timeline and growth initiatives.”
Fiserv demonstrated its technology at FinovateSpring 2018. Founded in 1984 and headquartered in Brookfield, Wisconsin, the company merged with First Data earlier this year in a deal valued at $22 billion.
Global US-based fintech, Fiserv, announces its open core platform will now serve Long Island-based credit union, NEFCU, to help transform the credit union’s member experience and drive innovation, reports Ruby Hinchliffe of Fintech Futures (Finovate’s sister publication).
The fintech’s DNA core account processing platform was chosen for its open architecture and APIs, and its ability to service all loan types from a single system. The move to Fiserv will also facilitate NEFCU’s planned introduction of self-service kiosks.
NEFCU, who has more than $3 billion in assets, hopes that through the new partnership it will be able to deliver more personalised services and relevant product offerings, with a look to add integrated solutions from Fiserv too, including content management and wire transfers.
“Our goal is to become the financial institution technology leader on Long Island, and we wanted a core platform that could help us achieve that goal,” said NEFCU CEO, John Deieso. “We needed a core platform that was future-oriented, and a partner committed to continuous investment in its technologies.”
Fiserv believes “the right technology” can enable credit unions to meet “rapidly evolving expectations” expectations of its members and drive growth as a result.
Founded in 1984 and headquartered in Brookfield, Wisconsin, Fiserv demoed its integration of Samsung SDS America’s biometric authentication and collaboration solutions into its Commercial Center: Security solution at FinovateSpring 2018. The company announced late last month that it had completed its $22 billion merger with First Data.