Credit union charts course for growth with move to a new core
platform built around member relationships
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, today announced that SEFCU, headquartered in
Albany, New York, has selected Fiserv as a technology partner to help
drive the credit union's member-centric growth strategy and deliver
greater efficiencies throughout the organization.
The credit union evaluated multiple systems, and identified DNA®
from Fiserv as the platform that provided the right combination of
capabilities, including a sophisticated, modern technology stack, the
ability to scale to potentially handle billions more in assets and
accounts, and real-time, 24x7 processing capabilities. SEFCU will
convert from its current account processing provider, and move from an
in-house to an on-demand delivery model.
SEFCU is among the top 50 credit unions in the U.S., with approximately
$3.5 billion in assets and more than 350,000 members in communities
across New York. For 11 consecutive years, SEFCU has been voted Best
Bank/Credit Union in the annual Times Union Reader's Poll. It
carries a deep commitment to social responsibility toward the residents
of its charter communities.
"At SEFCU, we want to change the world. The success of that mission
depends on the strength of three strategic pillars - Employees, Members,
and Community," said SEFCU president and CEO Michael J. Castellana. "We
will leverage DNA to the benefit of all three, reinventing and driving
efficiencies throughout our organization. The platform will allow us to
better serve our members, grow, and enhance our ability to give back to
the communities we serve."
SEFCU has a large footprint in New York, with 47 branches. As a part of
its strategy, it will focus on expanding digital and online services
from the backbone of DNA to complement its physical locations.
The credit union also will be able to gain better insight into members,
thanks to the person-centric architecture of DNA. This architecture
focuses credit unions' line of sight on the members and businesses they
serve, presenting information in a way that provides a full view of
those relationships. Even at scale, it allows credit unions to keenly
understand, serve, and market to members.
"SEFCU chose Fiserv to help enable their focus on ‘changing lives every
day,'" said Vincent Brennan, president, Credit Union Solutions, Fiserv.
"We welcome them to our growing, collaborative client community and look
forward to putting our technology and expertise to work to help them
deliver on the evolving expectations and needs of their members."
SEFCU is the fifteenth credit union to select Fiserv for account
processing this year.
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. In a world that is moving
faster than ever before, Fiserv helps clients deliver solutions that are
in step with the way people live and work today - financial services at
the speed of life. Learn more at fiserv.com.
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and
deliver financial services experiences that are in step with the way
people live and work today. For more than 30 years, Fiserv has been a
trusted leader in financial services technology, helping clients achieve
best-in-class results by driving quality and innovation in payments,
processing services, risk and compliance, customer and channel
management, and insights and optimization. Fiserv is a member of the
FORTUNE® 500 and has been named among the FORTUNE Magazine World's Most
Admired Companies® for four consecutive years, ranking first in its
category for innovation in 2016 and 2017. For more information, visit fiserv.com.
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Manager, Public Relations
Director, Public Relations
Source: Fiserv, Inc.
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