Fiserv’s GAAP revenue increased 5% to $1.36 billion for the second quarter of 2016. Compared to Q2 2015, its payments segment saw 9% growth and the financial segment grew 1%. In terms of the first six months of 2016, the firm’s financial results were a similar story. GAAP revenue increased 5% to $2.69 billion, with […]
Pennsylvania State Employees Credit Union (PSECU) has gone live with Temenos’ Lifecycle Management Suite’s account origination module. Temenos says PSECU was looking for a method to “streamline” the account opening process for both deposit and loan-based accounts. Andrew Coy, AVP of lending, PSECU, says the account origination solution goes “hand-in-hand with the other Temenos Lifecycle […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Abcul slow on tech modernisation project Exclusive: First credit unions to go live before year-end. New mobile banking for SMEs readies for UK launch Tide will offer a “nimble small business current account”. Top ten retail banking sites […]
The Association of British Credit Unions (Abcul) is yet to go live with its new shared core platform for its members, a project it has been working on for over two years. The UK government is behind the Abcul project, as part of the Department of Work and Pensions’ Credit Union Expansion Programme. The overall […]
Dakota Plains Credit Union has replaced its existing system with an integrated technology suite from Fiserv, including XP2 for core account processing. The North Dakota-based credit union will also use Fiserv’s Virtual Branch for online banking, Mobiliti for mobile banking, CheckFree RXP for electronic payments, Statement Advantage for statements and e-statements, Wisdom for comprehensive accounting […]
Oklahoma-based Encentus Federal Credit Union has chosen Fiserv’s Portico core account processing platform for digital banking and lending services. The credit union is migrating from its current providers to Fiserv; and Misty Potter, president and CEO, Encentus, says Fiserv “will empower our credit union with the progressive and innovative technology to drive a more rewarding […]
US-based banking software heavyweight Jack Henry & Associates and its Symitar subsidiary are busy with a number of core software projects across the US. Jack Henry converted Georgia-based Bank of Newington and Wisconsin-based Cleveland State Bank to its Windows-based Core Director platform. Both banks decided to replace their previous core systems and multiple third-party vendor […]
A new alliance of US community banks, credit unions and other financial institutions – Golden Contract Coalition (GCC) – launches to stand up to IT providers. GCC’s aim is to ensure fair market deals from the technology suppliers to its members. “GCC is the first alliance of its kind where a group of like-minded institutions […]
Hot on the heels of the R. C. Olmstead (RCO) acquisition, core banking software start-up Nymbus takes over another fellow vendor, KMR. KMR was founded in 2007 and focuses on the US credit union space. Its flagship suite, AgilityFOUR, consists of two products: AgilityWeb (a remote banking solution) and AgilityOrg (credit union management and compliance software). […]
Two Philippines-based credit union networks, National Confederation of Cooperatives (NATCCO) and Philippine Federation of Credit Cooperatives (PFCCO) will build a common banking and payments platform based on Temenos’ software. The new platform will underpin the service known as the ACCU Payment Platform (APP). ACCU stands for “Asian Confederation of Credit Unions” – both NATCCO and […]
One of Canada’s largest credit unions, Coast Capital Savings CU, is looking for a full-time software developer experienced in Temenos’ T24 core banking system. What’s the job? Writing code, developing and customising the credit union’s core processing platform, T24. “That sounds pretty simple but working on the software platform that powers our core banking operations […]
UK-based financial services vendor Perception is building a new comprehensive platform for credit unions, community development financial institutions (CDFIs), loan companies and start-up banks. The solution aims to cover loans, savings, mortgages and current account business lines, front-to-back office. Be different, make a difference Perception has identified the gap in the market that it feels […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Corelation’s Keystone core system reaches 50 users All aboard for US-based credit unions. Citizens Bank plans core banking revamp with FIS Bank is also looking at a new mobile platform and middleware layer. Scotiabank invests millions of dollars […]
US-based software vendor, Corelation, has onboarded 50 credit unions for its flagship Keystone core system. Keystone is a much newer system than most of its rivals, having hit the market just seven years ago. Corelation has also recently moved to a new head office in San Diego, California, to an office space four times bigger […]
California-based credit union, Xceed Financial, is merging with fellow Reach Federal Credit Union. The two entities will use Fiserv’s DNA core processing system as their centralised platform. It will be provided on a hosted basis. Xceed is already on the DNA platform, but has been using it in an in-house environment rather than outsourced. Reach […]
Three credit unions in the US have converted to the DNA core account processing platform provided by Fiserv. The projects were a couple of years in the making. Texas Dow Employees Credit Union The largest of the three is Texas Dow Employees Credit Union, with $2.7 billion in assets. The DNA platform supports all main […]
There is a lot of activity going on in the UK’s credit union space, as the participants realise they have no choice but to modernise. So who is doing what? Which technology providers are set to gain and who might be a loser? London Mutual Credit Union and TCS Financial Solutions London Mutual credit union […]
US-based Vibrant Community Credit Union (formerly DHCU) has completed its tech overhaul, with Fiserv’s DNA now supporting its core operations and Alkami’s ORB supporting digital banking activity at the front-end. The project was over a year in the making, and coincided with the brand overhaul at the credit union. It was formerly known as DHCU […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Fiserv’s CUnify core processing system bags 25 US credit unions More good news for the US software vendor. IBM delivers blockchain-as-a-service for developers Code to joy… nearly 44,000 lines made available. Potential “merger of equals” between Deutsche Börse […]
Fiserv has revealed that 25 US credit unions, with approximately $2.5 billion in assets and 250,000 members collectively, have committed to its CUnify account processing platform. Five of these credit unions are new core processing clients of Fiserv, and will be converting to CUnify in the course of 2016. CUnify is a core platform used […]
Credit unions play a critical role in local economies of countries throughout Latin America and the Caribbean, serving as a vital savings and credit conduit to vast numbers of people, especially those in the lower rungs of the income pyramid who are in many cases, priced out of the traditional banking system
