Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Ideal Credit Union, TopLine Federal Credit Union and Dakota West Credit Union have each selected Fiserv to modernize their operations and enable efficient delivery of services to stay ahead of members’ changing needs.
The trio of Midwestern credit unions will increase flexibility and efficiency by using the advanced technology of the DNA®account processing platform from Fiserv to streamline workflows and eliminate time-consuming manual processes, freeing up time for meaningful interactions with members. They also will leverage the ease of integration and reporting that DNA offers, with all member and account data stored in a single relational database.
Woodbury, Minnesota-based Ideal Credit Union selected DNA largely on the strength of its loan servicing capabilities, which are essential for managing the credit union’s large indirect loan portfolio. The $730M asset credit union also cited the ability of DNA to integrate with other applications, and the strong suite of customer relationship management (CRM) and marketing tools from Fiserv that will help the institution better understand and serve members’ needs.
“Fiserv offered the most modern, proven and feature rich platform in the market today,” said Brian Sherrick, president and CEO, Ideal Credit Union. “The open architecture of DNA and its enhanced APIs enable us to maintain deep integration with our preferred systems while delivering an exceptional experience to our members.”
Nearby Maple Grove, Minnesota-based TopLine Federal Credit Union, with $460M in assets, was attracted to the person-centric design of DNA along with CRM, multi-channel marketing and other tools from Fiserv, which the credit union will use to advance its strategy of building lifelong relationships with its member-owners.
“Technology and the way we deliver financial products and services is ever-evolving,” said Tom Smith, president and CEO, TopLine Federal Credit Union. “The investments Fiserv makes in research and development show that the Fiservteam is looking to the future and will help us meet our members’ needs.”
Dakota West Credit Union, with a high concentration of agricultural and energy-related lending and large, complex member relationships, recognized its need for a new technology platform when assets increased by 150 percent from 2010 to 2015 as the local petroleum industry grew.
“We needed a system that we could grow into in order to serve and build relationships with members and complex corporate entities, and eliminate inefficiencies,” said Jeff Meyer, CEO of Watford City, North Dakota-based Dakota West Credit Union. “That’s what led us to Fiserv.”
Ideal Credit Union will be running DNA in-house, while TopLine Federal Credit Union and Dakota West Credit Union will be running DNA from a Fiserv data center.
Recognized by industry-leading analysts for its technology, user experience and breadth of functionality, DNA from Fiserv is the first open, real-time account processing platform built for collaboration. A modern platform developed using contemporary, standards-based components, DNA provides a 360-degree view of customer relationships and streamlines numerous front-line and back-office processes.
“With member expectations evolving rapidly, credit unions are continually looking for ways to sharpen their competitive edge,” said Vincent Brennan, president, Credit Union Solutions, Fiserv. “No matter where they are located or what type of members they serve, Fiserv equips credit unions to stand out with technology that enables them to operate more intelligently and successfully execute strategies to meet the unique needs of their members.”
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at Fiserv.com.