Fiserv Inc. said the $4.9 billion Suncoast Schools Federal Credit Union in Tampa, Fla., plans to convert to its Acumen account processing solution.
The 520,000-member credit union, Florida’s largest, cited the core platform’s open architecture and Fiserv’s stability in its decision. It also selected teller capture and multi-channel marketing solutions from the Brookfield, Wis., company.
“Suncoast Schools FCU has a strong technology culture and has developed proprietary applications that create competitive advantage and cost savings for the organization. The credit union will retain the operational efficiencies of these applications by easily integrating them with Acumen using Web services, saving the credit union the expense of replacing or redeveloping the applications,” the company said.
Mark Sievewright, president of Credit Union Solutions at Fiserv, said, "As Suncoast Schools FCU continues to rapidly grow its membership base, Acumen will provide the ability to cost-effectively scale its infrastructure to keep pace with expansion.”
Suncoast Schools currently uses Fiserv’s Spectrum core processing platform, according to the Technology Survey from Callahan & Associates.
Fiserv introduced Acumen as a new flagship platform and said it now has sold it to more than 30 credit unions in the United States and Canada. It’s based on Internet technologies and providing 360-degree member views.
The Acumen solution was introduced to the U.S. market in late 2009 after it was developed in Canada under the iSpectrum name. The first U.S. commitment was from the $522 million Christian Community CU in San Dimas, Calif., in early 2010.
The company said more than 30 credit unions have since then contracted for Acumen. And it appears to be gaining traction among large American credit unions, its prime audience. Along with Suncoast Schools, other large commitments include the $1.3 billion Navigant FCU in Rhode Island, $4.8 billion Randolph-Brooks FCU in Texas, $3.6 billion Patelco CU in California, $1.7 billion Georgia’s Own CU and the $1.1 billion GESA CU in Washington state.