Fiserv Wins One, Loses One
Fiserv Inc. won one and lost one in credit union core processing announcements this week.
The $143 million United Credit Union of Mexico, Mo., plans to convert to the CUnify platform from Wisconsin-based Fiserv, the company said.
In the announcement, the credit union cited CUnify’s relational database it said would automate and streamline workflows, improve overall performance and provide seamless payments integration while providing a complete member view for improved frontline service.
The 23,200-member United currently runs on the FLEX platform from Computer Marketing Corp., according to data from Callahan & Associates.
Meanwhile, the $42 million Money Federal Credit Union in Syracuse, N.Y., said it plans to convert to the Sharetec platform through GBS Corp. of North Canton, Ohio. GBS is one of the four owner-distributors of the core processing solution from Sharetec Systems in Lino Lakes, Minn.
The 4,000-member MFCU currently runs on the Fiserv Portico platform, according to Callahan data. MFCU cited integration and included solutions such as person-to-person payments and remote check capture in its decision.
According to the 2014 Credit Union Core Processors Market Share Guide from Callahan, Fiserv now has more than 2,300 core processing customers on its platforms, including about 120 on the CUnify platform it acquired when it bought Open Solutions last year. CMC/Flex has about 260 and there are about 300 on Sharetec, the guide said.