Educational Community Credit Union Selects DNA and Integrated Surround Solutions from Fiserv
Fiserv, Inc. (NASDAQ:FISV) , a leading global provider of financial services technology solutions, announced today that Educational Community Credit Union (ECCU), based in Kalamazoo, Michigan, has selected the DNATM account processing platform and a host of integrated Fiserv solutions to drive future growth. The $424 million asset credit union will use DNA and its complementary solutions to expand business services, offer new digital channels and deepen relationships with its existing 37,000 members.
Founded in 1935, ECCU recently converted to a community charter and needed a contemporary technology platform that could help it grow. The full service credit union sought a platform with robust commercial capabilities and digital channels to attract new Gen Y and business members. After a rigorous review of the industry’s leading vendors, ECCU selected Fiserv.
“Our new Fiserv platform will enable us to offer more relevant products and services through the channels members prefer, and do so more efficiently than ever before,” said Charles Cornelius, president and CEO of ECCU. “With DNA, we can grow our commercial, mortgage and retail operations on a single platform while providing the self-service experience today’s members expect. And as our needs change, we can enhance and customize DNA with other Fiserv solutions and DNAapps.”
DNAapps are custom core extensions that seamlessly integrate with DNA to add new features, data views and more. With DNA, ECCU can create its own DNAapps using the DNAcreatorTM toolkit or download DNAapps created by others from the DNAappstoreTM online marketplace.
ECCU also selected DNA for its robust business banking capabilities, which combine with comprehensive mortgage and retail functionality to create a single, unified platform designed around the member. ECCU will use its 360 degree view of members to better understand their needs and offer more relevant products. The credit union will also benefit from 24/7 real-time processing and a contemporary, open architecture for increased efficiency and greater flexibility.
ECCU will use the open architecture of DNA to integrate leading self-service solutions from Fiserv for a complete digital ecosystem. MobilitiTM will enable ECCU members to manage accounts using a smartphone or tablet while DNAwebTM Retail and Business provides web access. Members will be able to pay themselves using mobile check capture and account-to-account transfers, pay other people using Popmoney(R) and pay billers using CheckFree(R) RXP(R) and CheckFree(R) Small Business. They will also be able to open new deposit and loan accounts using the Instant OpenTM online enrollment tool. Combined, these seamlessly-integrated, digital channel and payment solutions will enhance member satisfaction and drive efficiency at ECCU.
“By selecting DNA, ECCU is investing in a technology platform that will help the credit union drive member service, efficiency and future growth,” said Steve Cameron, president, Open Solutions Division, Fiserv. “We are pleased to deepen our partnership with this ambitious credit union as it expands into new markets. Fiserv will help ECCU deliver the meaningful products and services its members desire today and well into the future.”
ECCU will also implement the CRM and Business Intelligence suite for DNA, tMagicTM teller capture, VerifastTM member authentication, Nautilus(R) electronic content management, VantageTM Risk and Budgeting Manager, VelocityTM loan origination system and the PrologueTM Accounting suite. The credit union will integrate its existing ConvergeIT(R) telephone banking solution into DNA and engage the DNA Professional Services team to get the most out of its technology investment.
Fiserv is the U.S. market leader in account processing services, and more than one-third of U.S. financial institutions rely on Fiserv for account processing solutions and expertise. DNA is the first open, core banking platform built for collaboration and has been recognized by industry-leading analysts for its technology, user experience and breadth of functionality.
About Educational Community Credit Union
Established in 1935, ECCU has grown from serving only Kalamazoo school employees, to serving the greater educational community, to now providing a full range of financial products and services to anyone who lives, works, worships or attends school in any of our 21 Michigan counties. The credit union exceeds $424 million in assets and serves more than 37,000 members. Visit eccu1.org to learn more about membership and why ECCU just feels right, and our members feel right at home.
This year, Fiserv, Inc. (NASDAQ:FISV) celebrates 30 years of leadership in financial services technology. As one of FORTUNE(R) magazine’s World’s Most Admired Companies, Fiserv is helping clients worldwide achieve best-in-class results by driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.
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