Fiserv Wins Patelco
A longtime Fiserv Inc. client has become the third, and by far the largest, credit union to commit to the company's newest core processing platform.
The $3.6 billion Patelco CU in San Francisco will convert from its existing Fiserv Spectrum solution to the new Acumen platform, citing its Internet-based architecture, scalability and redundancy for its decision.
Touting its real-time capabilities, scalability and 360- degree member views, Fiserv introduced Acumen to the U.S. market last year after it was developed under the iSpectrum name in Canada. Patelco senior management participated in the application design review portion of that process.
"The Acumen platform provides a true 24/7 processing environment that will allow us to easily handle the high-volume transaction demands of our membership today, while providing best-in-class scalability to support the growth we anticipate in the future," said Ken Burns, CEO at the 288,000-member Patelco.
"The Acumen platform's scalability matches the aggressive growth and service goals of Patelco Credit Union, a longtime Fiserv client," said Scott Butler, president of Credit Union Solutions at Fiserv in Brookfield,Wis.
The first two commitments to Acumen were from $520 million Christian Community CU in Carson, Calif., and $539 million Consumers Credit Union of Waukegan, Ill.
Fiserv provides core account processing services to about 2,500 credit unions, accounting for about a third of the market.