Educational Systems Federal Credit Union selects Finastra to enhance digital experience

By Pavithra R

Finastra, a leading financial software solution provider, has announced that U.S. based Educational Systems Federal Credit Union (FCU) has gone live with Finastra’s Fusion Digital Banking to deliver an enhanced digital experience capable of satisfying the CU’s more than 85,000 members.

Educational Systems was looking for a digital platform built with open banking standards at its core that could integrate with core banking and ancillary solutions from different vendors, as the credit union transitions to a new core system. Fusion Digital Banking expects to provide a platform that creates a consistent, omnichannel experience for Educational Systems FCU’s members, irrespective of the digital device being used.

“Educational Systems needed to provide its members with a digital experience that rivaled the in-branch experience in terms of ease of use and functionality. We were attracted to Fusion Digital Banking because it provided a robust digital solution and integrated well with other technology systems we use, including the new core we will be moving to later this year. Using their unique API architecture, Finastra was able to quickly build connectivity to our current core so we could implement the new digital solution immediately,” said Chris Conway President/CEO of Educational Systems Federal Credit Union.

Fusion Digital Banking was built to be open platform and leverages open APIs to be core-agnostic. It integrates with virtually any core available in the market, as well as with PFM tools, lending platforms and other technologies that power a financial institution. Besides Fusion Digital Banking, Educational Systems FCU has also selected Allied Payment Network, a third-party app available on the platform for easier account-to-account (A2A) and person-to-person (P2P) transfers to and from accounts at other financial institutions.

“Now, more than ever, account holders require a robust digital experience from their financial institution. We’re excited to be working with Educational Systems Federal Credit Union to bring this to its members. And as the credit union is in the process of changing its core provider, we were committed to making sure that the digital experience remained consistent for these members. We were able to build out integration with their existing core to help bridge the gap while they undergo this significant technology transformation, so members can benefit from a consistent digital experience throughout the migration,” said Chris Zingo, SVP and GM of Americas Field Operations, Finastra.

Founded in 2017, Finastra is building an open platform that accelerates collaboration and innovation in financial services. Recently, The Peoples Community Bank selected Finastra to enhance its digital capabilities.