MADISON, Wis. – Just two weeks after announcing that its three-year Internet banking alignment with FundsXpress was over, CUNA Network Services has selected EDS to be its new Internet banking partner. CNS will now offer EDS' Virtual Branch Internet banking/bill pay solution to credit unions. Virtual Branch is currently used by approximately 300 EDS CU clients. This move is interesting on a couple of fronts. For EDS, it marks a sea change from how it markets its online banking solution. Prior to this deal, EDS had made no such strategic partnerships to get VirtualBranch into more CUs – it was only marketing to EDS CU clients and via an EDS' sales force. "We have been focusing entirely on EDS clients. One of my jobs coming here was to build up the EDS Virtual Branch usage. I think given CNS' reach this is a better way to go, rather than build up our own sales force," said Dave Selina, an EDS client executive. Selina joined EDS earlier this year after leaving Cavion, which went bankrupt and was bought by Liberty. He is a veteran of EDS who left in 1995 to help start Cavion. Now back at EDS after six years, Selina said the organization has changed. "I can tell you that it's a very different EDS. At the time I left it was a slow moving, very methodical organization. Now I have experienced a more aggressive, more of an outside the box thinking and flexible company. This transaction is an example of that," said Selina. This deal brings CNS deeper into the e-com space. While the FundsXpress partnership was about Internet banking, EDS will provide much more, said CNS Senior Vice President Doug Benzine. He said the EDS deal will allow CNS to offer Internet banking/bill payment; wireless banking; online lending; marketing services; and others in the future. "We selected EDS really for the total solution they bring to the table. They have facilities to support all sizes of credit unions. They're on the cutting edge of technology. There will be additional products coming out that we will release," said Benzine. When CNS and FundsXpress parted ways, CNS said one reason for the break was that FundsXpress was focusing more on the larger CUs, and not the entire market. FundsXpress said it wanted out because CNS wouldn't allow it to market more of its products through the agreement, though it doesn't look like CNS is going to limit EDS just to Net banking. Selina said there's no telling what this partnership can lead to. "We anticipate that it will go well beyond Internet banking. We're going to also have the lending solution, and hopefully we can integrate more products at some point," said Selina. CNS is 40% owned by CUNA Strategic Services, which is 51% owned by CUNA. [email protected]

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