The 22 credit unions using Credit Union On-Line Inc. as its service bureau are now running on the latest version of Fiserv XP2 platform.
Among improvements, the upgrade?Service Pack 15e?sharply decreases the time it takes to verify deposits, the company said. It also is the largest upgrade since the platform was released, CUOL said.
Background verifications for applicants also have been reduced from about five minutes to a matter of seconds, Fiserv said. Teller capture, automated loan rewards and other loyalty rewards also are included.
The Waltham, Mass., company is the sole provider of the XP2 platform in a service bureau setting.
The conversion process took about six months, the company said.
"CUOL made the conversion process painless," said Dorinda Edwards, president and CEO of $46 million American Partners FCU of Reidsville, N.C. "We are thrilled to have these new features up and running."