Core Wars: DNA Gains While Fiserv Loses Acumen
It was late January when the Brookfield, Wis.-based Fiserv rocked the core system universe, announcing it had acquired competitor and DNA core architect Open Solutions for roughly $1 billion, much of that in debt assumption.
Then Fiserv dropped another bomb, saying it was killing off its Acumen core. The product had been billed as a breakthrough, but it mainly triggered acrimony and disappointments—as well as some litigation—involving the handful of early adopting credit unions.
John Fenton, CEO of $2.2 billion Affinity Federal Credit Union in Basking Ridge, N.J., adopted DNA via a third route.
He had decided Affinity needed to upgrade to a new core after 27 years on a Fiserv core, and in early 2012 he settled Open Solutions’ DNA, in part because he had doubts about Acumen.