$2B Travis Will Convert to Fiserv’s DNA
The $2.1 billion Travis Credit Union in Vacaville, Calif., has committed to the DNA account processing platform from Fiserv Inc., the company and credit union said this week.
Travis was one of a couple dozen unions that had committed to Fiserv’s Acumen platform, in this case in 2012, but never made the switch. Fiserv said after it bought Open Solutions Inc. last year that it would abandon the Acumen platform rolled out in 2009 and instead position DNA as its flagship core solution for large credit unions.
Travis currently runs on the Wisconsin company’s Spectrum platform, according to data from Callahan & Associates, and cited its 30-year relationship with Fiserv in its decision to go with DNA. The credit union also cited the platform’s open design and development tools, which it said will help the 174,500-member institution retain retail and commercial relationships.
"DNA will allow us to bring new products and services to market in a more rapid timeline. Plus, with DNAcreator, its developers’ tool kit, we'll be able to customize and extend the platform as our needs and our members' needs evolve," President/CEO Patsy Van Ouwerkerk said in the announcement.
The company said last fall that a dozen credit unions and banks had committed to DNA since the January acquisition of DNA.
"Travis's selection of DNA provides additional momentum to the significant adoption we have seen for the platform since our acquisition of Open Solutions,” said Mark Sievewright, Fiserv’s division president, Credit Union Solutions.
According to Callahan’s 2014 market share report, 178 credit unions were running on Spectrum and 117 on DNA. Two were live on Acumen.