The $879 million Northrop Grumman Federal Credit Union in Gardena, Calif., has joined the list of credit unions who’ve signed up recently to convert to the Acumen account processing platform from Fiserv Inc., the company and credit union said.
The 49,600-member credit union, which operates 17 branches in six states, cited modern architecture and workflow processes that would allow better management of decentralized operations in its decision announced Monday.
Northrop Grumman also chose document imaging, accounting and asset liability management solutions from Fiserv. The credit union currently is on a Fiserv Spectrum platform, as are several of its other recent signings.
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.
More than 30 credit unions have now committed to Acumen, and more signings are expected to be announced soon as the flagship platform continues to gain traction, said Mark Sievewright, president of Fiserv’s Credit Union Division.
“We’re seeing a very healthy mix of existing and new Fiserv clients for Acumen, and it’s not a cannibalization effort by Fiserv,” Sievewright said in an interview with Credit Union Times.
“Acumen, from the core processing point of view, is the largest single investment we’ve made as a company, but it doesn’t mean the other solutions are any less important. We have over 2,000 clients using these and we have solutions for all types of credit unions,” he said.
“And from the technology point of view, each of these conversions are different and are very complex."