Wescom CUSO Reports 2010 Growth
Wescom Resources Group said it added 26 new credit union clients in 2010 and now provides technology solutions to more than 225.
The CUSO of $2.7 billion Wescom CU in Pasadena, Calif., said it also recorded nearly a 12% total revenue increase in the year past compared to the year before, to $9.21 million, and that total net income grew to $1.54 million, 44% more than 2009.
Highlights of the past year included signing 17 more users of its MemberEdge mobile banking solution, including a half dozen billion dollar CUs, and two new users of its service bureau for hosting Symitar Episys core processing.
WRG said it also released SOA Web Services options for many of its products, providing better third-party integration, and grew ATM deposit balancing by 14% with the addition of two new credit unions.
Mobile adoption grew fast after it launched in April, the CUSO said, and enhancements are continuing in that platform along with other projects seeing increased research and development investment to keep up with the changing electronic banking world, the CUSO said.
John Best, WRG's vice president and chief technology officer, said, "The traditional Web paradigm will begin being replaced by integrated applications. Apple, Google and Microsoft are already there and we as credit unions need to be there as well."