Texas-based Velocity Credit Union has picked Fiserv Inc. as its key technology provider, as the credit union eyes business diversification and automation.

The credit union currently has on its agenda, augmentation of services for small businesses and a better digital experience for members. To support the same, the union has zeroed in on DNA solution from Fiserv to improve loan servicing capabilities for business and real estate, and to facilitate the integration of third-party solutions through the platform’s open architecture.

“Faster integration of the latest market innovations, which is possible with an open architecture platform like DNA, means we can quickly deliver the latest services to members. This helps us stand out and shows the business community and our members that we are invested in them,” Debbie Mitchell, president, and CEO, Velocity Credit Union commented.

DNA is a core account processing platform that provides built-in commercial servicing capabilities to support business account growth. The platform’s open architecture makes it easier for financial institutions to integrate other solutions, bring products and services online quickly.

As part of the technology transformation, the credit union also added other integrated solutions from Fiserv including general ledger, item processing, and enterprise payments.

Fiserv, a provider of payments and financial technology, offers clients solutions in areas including account processing and digital banking, card issuer processing and network services, payments, e-commerce, merchant acquiring and processing, and cloud-based point-of-sale solution.

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by Sheeba Bhagat Dawar
Market Analyst at IBS Intelligence
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