PSCU Financial Services on Monday used the Governmental Affairs Conference to reveal its new brand – and name – and tout operational streamlining it said already has resulted in new efficiencies and quick product launches.
The 680-owner St. Petersburg, Fla., CUSO has dropped “Financial Services” from its name and is now simply “PSCU” and has adopted ‘FORWARD’ as a new positioning statement and logo.
“The status quo is our enemy. We have redefined our organization in order to better serve the credit union industry and our member-owners,” said Mike Kelly, PSCU’s president/CEO since last spring. “This evolution of our company was a necessary part of our lifecycle in order to fully deliver on our promise to be an innovative payments leader that empowers credit unions to compete and prosper.”
Internal changes include a new payments strategy it calls MōPRO, member owner payment revenue optimization.
“This new payments strategy delivers agile operating systems and innovative payment solutions that ensure PSCU’s credit union members can increase member engagement and acquisition to generate revenue gains and achieve success in the financial services marketplace,” PSCU said in its announcement.
The CUSO also touted its new Innovation Lab, which it said was designed to work with credit unions to bring solutions to market faster. Three products emerged in the first 90 days: a service availability app, a portfolio performance benchmarking app and the company’s first mobile wallet solution – PSCU’s Mobile Container.
“The next chapter of our company is to reinvigorate our business and our members’ business. We’re going to infuse change, create new channels for success and answer the demands made from the largest stakeholder audience we have—the consumer,” Kelly said.
PSCU said it now provides credit, debit, prepaid, online bill pay, mobile and online banking to 16 million accounts at more than 1,500 financial institutions. Its four contact centers handle more than 18 million inquiries a year, the company said.