Many credit unions recently completed or signed for core systemconversions and other major technological upgrades over the past few months

|

Here's a look at some of the latest technology moves.

|

Carmel, Ind.,-based Baker Hill announced that $1.2 billionWinston-Salem, N.C. based Allegacy Federal Credit Union selectedits portfolio risk management solutions. The credit union willleverage the Baker Hill Statement Analyzer, a web-based financialanalysis tool, enabling Allegacy to better understand commercialclients' credit risk; and Exception Advisor, which protects thequality of the credit unions' commercial loan portfolio throughcontinuous, automated monitoring of document, policy, complianceand exception management.

|

Three credit unions – the $142 million, Jackson, Miss.-basedMagnolia Federal Credit Union; the $90 million, Savannah, Ga.-basedGeorgia Heritage Federal Credit Union and the $113 million, Hamden,Conn.-based Wepawaug-Flagg Federal Credit Union– selected theDetroit-based Bankjoy to negotiate the tricky mobile landscape.

|

Rancho Cucamonga, Calif.-based CO-OP Financial Servicesannounced the $3 billion South Bend, Ind.-based Teachers CreditUnion, Indiana's largest credit union, has added its nearly 85 ATMsto CO-OP's network of 30,000 ATMs, the nation's largest creditunion-owned surcharge-free network.

|

Jacksonville, Fla. based FIS announced Edmonton, Alberta -basedServus Credit Union, one of the largest credit unions in Canadawith 390,000 members and more than 100 locations across Alberta,turned to FIS for a full complement of credit card servicesincluding processing, loyalty, fraud detection and prevention, aswell as card production and personalization. The move to FIS wasdue in part to the credit union's needs of a broader paymentstrategy, giving Servus Credit Union more control over their creditcard strategy and delivery in order to enhance their memberexperience.

|

Brookfield, Wis.-based financial services provider Fiservannounced $35 million Tulsa, Okla.-based First Oklahoma FederalCredit Union selected the Portico core account processing platformwith an integrated technology suite featuring digital bankingsolutions. First Oklahoma will streamline its technology as itmigrates from its current providers to Fiserv.

|

|

Another Oklahoma financial institution the $59.5 million SandSprings based Green Country Federal Credit Union, also selectedFiserv's Portico core account-processing platform with integrateddigital and mobile banking solutions, and add enhancedfunctionality for commercial lending.

|

The software-as-a-service suite selected by both credit unionsincludes Virtual Branch for online banking with enhanced bill pay,Mobiliti for mobile banking, Mobile Source Capture for mobiledeposits, Loancierge for lending automation, and Wisdom foraccounting and call report management, in addition to solutions forstatements, identity verification, web signatures and websitehosting.Green Country also includes WireXchange for wire transfersand Teller Source Capture for front-line automation. In addition,Green Country will engage Raddon for strategic consultingservices.

|

Little Rock, Ark.-based Infusion, a provider of data-drivendirect marketing campaigns announced it will provide new memberonboarding services for $875 million Papillion, Neb.-based SACFederal Credit Union.

|

Infusion's new member onboarding services uses multi-channeloutreach to educate customers on the full range of servicesavailable from the credit union in the critical early period of therelationship. Infusion's analysis core data and its proprietarytargeting methodology help to efficiently target existing membersto expand relationships.

|

The Monett, Mo.-based Jack Henry & Associates' Symitardivision announced the $1.3 billion Dallas-based Credit Union ofTexas selected the Symitar Episys core system. The credit unionwith 13 branches, in eight cities across the state, identified theneed for a core provider that could deliver both internalefficiencies as well as the sophisticated technology. The creditunion also chose to implement Advanced Reporting for Credit Unionsfor data warehousing and reporting; Episys Data Store for a nearreal-time, 360-degree view of key business processes; andSymAdvisor for assistance in achieving strategic goals.

|

Austin, Texas-based Kony announced it helped provide the $1.5billion Burbank, Calif.-based Partners Federal Credit Union, whichoffers membership to employees and cast of The Walt Disney Companyand their family members, with a mobile banking application thatoffers a differentiated experience and ease of use. The cloud-basedKony Mobility Platform enables Partners to quickly develop anddeliver member mobile banking apps, and accelerate membershipadoption and growth.

|

The updated Partners mobile banking app continues to offer corebanking functions such as mobile deposits, transfers andbill-paying, but also has more advanced features, including asection that gives members access to coupons and deals with localand national merchants, an education portal, and a built-in surveytool.

|

Member Driven Technologies of Farmington Hills, Mich. announcedthe conversion of the $1 billion West Allis, Wis.-based EmpowerCredit Union to the Symitar Episys via the MDT CUSO. JenniferSchilling, Empower's CEO, said, “Our focus has always been on ourmembers and helping advance their financial situation. We recognizethe need for improved technology, not only for our membership, butalso for our staff in meeting our members' needs.”

|

Miami-based core banking provider NYMBUS announced CHROMEFederal Credit Union selected NYMBUS' SmartCore banking platform todeliver digital services – from secure online and mobile banking,to lending and remote deposit capture – to its more than 18,000members. CHROME is in the process of transforming its business to adigital-first credit union, addressing the rapid shift in members'needs and growing competition from outside the financial servicesindustry.

|

The St. Petersburg, Fla.-based CUSO PSCU announced it will bethe payments provider for the Marlborough, Mass.-based CooperativeCredit Union Association. Under terms of the agreement, PSCUestablishes long-term servicing relationships with 44 creditunions, representing 47,000 credit and debit accounts.

|

CCUA sought to provide its credit unions benefits and productenhancements that improve cardholder service and maximize the valuefrom their card programs. CCUA President Paul Gentile said one ofthe core reasons for selecting PSCU is its industry-leading fraudprevention systems. PSCU significantly exceeds industry benchmarkson both fraud loss-to-sales ratios and their ability to recover asignificant amount of gross fraud via charge backs and merchantcredits.

|

Lino Lakes, Minn.-based Sharetec System announced the $26million Evansville (Ind.) Firefighters FCU and $41 millionShreveport, La.-based Post Office Employees FCU selected Sharetecas their new core system provider.

|

Sharetec System, one of the fastest growing core systems,announced 49 successful credit unions service bureau installationsfor 2016.

|

The 1.3 billion Muskego, Wis.-based Corporate Central CreditUnion announced it has partnered with Strategic ResourceManagement, an independent professional services firm, to offer anew service to member credit unions called CU•Save. The partnershipspecializes in revenue enhancement and cost reduction for creditunions, specifically in the card processing space.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.