FRISCO, Texas – Credit union data processor IntegraSys is partnering with fellow Fiserv credit union processors to get its Wisdom Financial Management Suite in more credit unions. It has B2B agreements with Aftech, Galaxy, and CUSA Technologies to offer Wisdom to its CU clients. Each processor will offer the product differently and likely brand it in such a way that doesn’t highlight that it’s an IntegraSys product. In total, Wisdom is used by credit unions on 30 different core processing systems. Wisdom includes ALM, portfolio management and general ledger functionality. IntegraSys inherited Wisdom back when it was part of EDS. EDS picked up the Wisdom product in one of its acquisitions. Wisdom Product Manager Craig Strumpfer said some of the CU core processors are looking for Wisdom to help modernize their general ledgers without doing a complete rewrite. “What we see in the marketplace is a lot of the core systems have older legacy systems. Wisdom is a state of the art Windows-based product that integrates and interfaces well,” said Strumpfer. As for the ALM functionality, Dave Campbell, Senior Vice President with IntegraSys and general manager for its Charlotte, CubicsPlus and Wisdom products, said credit unions need more ALM tools these days. “Examiners are focusing more on having an ALM plan. The other thing is credit unions are smarter in some cases (than banks). They realize the effect of margins, interest rate changes, things that may not impact a huge, large financial institution like a Bank of America. Interest rate margin changes could significantly impact their business. What Wisdom allows them to do is look at scenarios. How does a 50 point change in rates in the next year or next five years affect them,” said Campbell. Wisdom has reporting features that can show the CFO and CEO the high-level look they need, while boiling down overall results for directors. That’s one of the reasons Fort Lee FCU went with Wisdom. “Wisdom makes preparing required investment reports and NEV calculations, as well as financial statements for the board, less cumbersome and much faster than our old method, and our board had no difficulty adapting to the new format,” said Fort Lee FCU CEO Patsy Stuard. “Wisdom compares the projected budget to the actual numbers and allows the flexibility for changes.” Over the last two years, more than 80 CUs have added Wisdom. Today there are 450 CUs on the product. One new enhancement is the ability to run Wisdom over a wide-area network, giving CUs with multiple branches an opportunity to look at their entire operations. Wisdom also now has new net economic value calculations and a loan pool method for calculating loan loss provision. -pgentile@cutimes.com