Core Processor, Mobile Banking Conversions Set
Several credit unions announced they are changing core processors or online and mobile banking providers, and one is going first in its region with mobile photo credit card account switching. The $251 million Nymeo Federal Credit Union in Frederick, Md., will be converting to the XP2 core processing system from Fiserv Inc., the Wisconsin-based vendor said. Nymeo also will convert to Corillian Online for online banking and use the Mobiliti for mobile banking, Popmoney for person-to-person payments and CheckFree RXP bill pay solutions from Fiserv, the company said.
According to data from Callahan & Associates, Nymeo currently runs on Fiserv's DataSafe platform through United Solutions Co. and uses DataSafe home banking and PSCU bill pay services. Improved integration and elimination of third-party solutions were cited in the announcement from Fiserv.
Meanwhile, the $204 million Deer Valley Credit Union in Phoenix will be using the Cubus One online banking/mobile platform from Cubus Solutions of Livermore, Calif. It now uses the home banking platform from Davis + Henderson, the Canadian company that recently acquired Harland Financial Solutions.
Deer Valley runs on the UltraData core from D + H and is a current e-statement customer of Cubus Solutions, according to Callahan data. Cubus Solutions said it now has 15 credit union customers for its online banking/mobile platform. Also, the $406 million ABNB Federal Credit Union in Chesapeake, Va., has launched mobile check deposit functionality. ABNB also said it will be using integrated teller, merchant and check aggregation and cash letter processing through Bluepoint Solutions, an imaging specialist based in Henderson, Nev., and PCSi, an item processing CUSO based in Irmo, S.C. ABNB uses Fiserv DataSafe core processing and home banking, Callahan data showed.
And the $2.5 billion Members 1st Federal Credit Union in Mechanicsburg, Pa., plans to be the first credit union the mid-Atlantic to offer a new mobile photo balance transfer solution from Mitek, the California-based capture technology provider said.
Mitek said the solution is the mobile equivalent of traditional balance transfer marketing programs, allowing a smartphone image to be used to transfer balances from competing credit cards to a new account at Members 1st.