Fiserv,
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, today announced that Allegacy Federal Credit
Union, a $1.43 billion in assets credit union based in Winston-Salem,
North Carolina, will advance its member and business services
capabilities and prepare for the next stage of its growth by enhancing
its core platform with an integrated suite of solutions from Fiserv.
“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
centers with one more scheduled for this fall. Enhancing our core
enables us to continue that growth and better serve our members with a
enriched experience, faster service and improved security around their
accounts.”
The credit union will be moving to DNA®,
a continuously available real-time core account processing platform with
an open architecture, along with integrated solutions from Fiserv to
streamline loan originations, enhance wire services, reduce fraud,
improve and automate marketing programs and create customized,
personalized statements. The credit union also selected the Verifast™
Branch biometric solution from Fiserv, which scans a member’s unique
palm-vein pattern and instantly pulls up the member’s account for
reliable and secure authentication and increased front-line efficiency.
“Financial institutions are increasingly becoming technology companies,”
said Ernie Hanington, vice president, Emerging Technologies, Allegacy
Federal Credit Union. “Finding a partner that could grow and support our
digital plans for the future was imperative. The ability of Fiserv to
enhance internal efficiencies and more easily integrate and streamline
our vendor relationships is essential for our growth and member
experience.”
Because Allegacy Federal Credit Union is widely known for supporting the
physical and financial wellness of its employees, members and their
communities with initiatives such as their WellQ program, they are
promoting the transition to Fiserv internally using the theme: Strengthening
Our Core.
“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.”
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. DNA is the first open, core
banking platform built for collaboration and has been recognized
by industry-leading analysts for its technology, user experience and
breadth of functionality.
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.
About Allegacy Federal Credit Union
For 52 years, Allegacy has helped its members, employees and the
communities it serves be their best by helping people make smart
financial choices. By doing right, Allegacy has become one of the
largest credit unions in North Carolina serving more than 151,000
members worldwide with almost $1.5 billion in assets and an additional
billion dollars in assets under management in its financial planning
group. With roots in Winston Salem, Allegacy has 16 locations and eight
high school student-run credit unions. Allegacy offers personal and
business financial services to help a broad membership base including
the employees, retirees and families of over 1,800 companies throughout
the country be their best. To learn more, visit Allegacy.org.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and
deliver financial services experiences in step with the way people live
and work today. For 35 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 six consecutive years, recognized for strength
of business model, people management, social responsibility and
innovation leadership. Visit fiserv.com
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on social media for more information and the latest company news.
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