Fiserv Touts DNA Commitments Since Open Solutions Buy
Fiserv Inc. on Tuesday said that seven credit unions and five banks have committed to its DNA core processing platform since the Brookfield, Wis., company bought Open Solutions Inc. in January.
All of the credit union commitments were from existing Fiserv account processing clients, according to data from Callahan & Associates, except for the $686 million Wildfire Credit Union in Saginaw, Mich., which is now a Symitar Episys user.
Two of those credit unions – the $5.5 billion Randolph-Brooks FCU in Live Oak, Texas, and the $1.9 billion MIDFLORIDA CU in Lakeland, Fla. – had been committed to the Acumen platform, a new flagship solution the company rolled out in late 2009 and said after the DNA acquisition that it would replace with the DNA platform.
The $889 million Evansville Teachers FCU in Indiana had been a Fiserv Portico user, Callahan data showed, while the $457 million Greater Nevada CU in Carson City was converting from the Wisconsin company’s CUBE platform and the $392 million Vermont FCU in Burlington already was a Spectrum customer, Callahan data showed.
The $1.4 billion Navigant Credit Union in Smithfield, R.I., meanwhile, is a Fiserv Spectrum user that announced in June that it would convert to the DNA platform.
The company said integration with other Fiserv products and the DNAcreator development toolkit, which allows IT professionals to create and sell custom core extensions, were among factors cited by their customers in their decisions.
Open Solutions platforms currently were in use at 64 credit unions of more than $250 million in assets and 142 of less than $250 million, according to Callahan data from earlier this year.