Vincent Brennan, president, Credit Union Solutions, Fiserv

Fiserv has announced that Allegacy Federal Credit Union has selected Fiserv DNA and Verifast in a bid to enhance its core platform as well as its business capabilities. Fiserv’s DNA is a real-time core account processing platform with open architecture whereas Verifast is Fiserv’s biometric solution. According to the supplier, these solutions are expected to be instrumental in simplification of loan originations, reduction of fraud and automation of marketing programs. It will also enhance authentication processes and front-line efficiency.

“We needed a comprehensive solution to support our strategy of expanding commercial and member relationships while providing the efficiency, integration and real-time processing benefits needed to manage our ongoing growth,” said Cathy Pace, president and CEO, Allegacy Federal Credit Union. “In the past five years, we have opened six new financial centres with one more scheduled for this fall. Enhancing our core enables us to continue that growth and better serve our members with an enriched experience, faster service and improved security around their accounts.”

Established in 1967, North Carolina-based Allegacy Federal Credit Union provides personal and business financial services to a membership base including the employees, retirees and families.

“Fiserv shares Allegacy Federal Credit Union’s focus on innovation and member service,” said Vincent Brennan, president, Credit Union Solutions, Fiserv. “The robust, real-time capabilities of DNA and other integrated solutions from Fiserv will position Allegacy Federal Credit Union to capture more of their market with the full range of products, services and channels that retail and commercial members expect in today’s fast-moving world.”

Recently, Fiserv’s DNA solution was selected by three Canadian credit unions– Carpathia Credit Union, Estonian Credit Union and PARAMA Credit Union, in a bid to fuel their efficiency, modernize operations and enhance their customer services.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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