- Florida’s fifth largest credit union chooses DNA to expand its membership
- New client cites the scalable, member-centric nature of DNA and deep integration with Fiserv solutions as key decision factors
- MIDFLORIDA Credit Union to complement DNA with integrated suite including payment processing, CRM, business intelligence, teller line authentication and loan origination
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that MIDFLORIDA Credit Union, based in Lakeland, Fla. with assets over $1.9 billion, has selected the DNA™ account processing platform from Open Solutions, now part of Fiserv, to gain greater visibility into its 195,000 member relationships. Leaders of MIDFLORIDA Credit Union based their decision on the platform’s member-centric design, scalability and easy integration with their new and existing Fiserv solutions.
“With our expansion over the past several years, both organic and via merger, we require an account processing platform that can scale with our growth ambitions while deepening our ability to provide exceptional personal service. We’ve found the solution with DNA,” said Steve Moseley, executive vice president, MIDFLORIDA. “DNA will give us a 360 degree view of our member relationships while its open architecture will allow us to streamline the delivery of cutting-edge Fiserv solutions.”
Recognized by industry leading analysts for its best-in-class technology, user experience and breadth of functionality, DNA from Fiserv is the first open, relationship-centered core banking platform built for global collaboration. DNA is a 24/7 continuous, real-time platform that employs a relational data model designed around the person, not the transaction, so MIDFLORIDA staff can securely analyze their retail and small business member relationships by person, product or account. DNA provides a scalable infrastructure that will enable MIDFLORIDA to grow rapidly without sacrificing efficiency or service excellence.
“DNA will help MIDFLORIDA roll out new products quickly and easily with the personalized service its members expect,” said Steve Cameron, president, Open Solutions Division, Fiserv. “MIDFLORIDA can realize efficiency and automation gains from the platform and solutions from Fiserv, as well as custom built applications developed by other banks and credit unions collaborating on the DNA platform. It’s this flexible foundation and comprehensive solution set that keeps attracting forward-thinking banks and credit unions to DNA.”
MIDFLORIDA will optimize its investment with Best Practices services and several new solutions from Fiserv, including Velocity™ for loan origination, Verifast™ for teller line authentication and CRM and business intelligence applications for DNA. The credit union will also have access to the DNAcreator™ development toolkit, which allows the credit union’s technical staff to create and sell custom core extensions called DNAapps™ to other financial institutions via the DNAappstore™ -- the first online marketplace for core applications.
“As the leader in account processing for credit unions in the U.S., Fiserv has always been focused on providing technology solutions designed to help credit unions achieve best-in-class results. With the addition of the DNA platform to our existing solution set, we continue to enjoy the technology partner relationship with credit union innovators like MIDFLORIDA,” said Mark Sievewright, division president, Credit Union Solutions, Fiserv.
MIDFLORIDA Credit Union will leverage the .NET architecture of DNA to integrate its existing Fiserv solutions, including Card Services Debit and Credit Processing, Nautilus® for enterprise content management, Prologue™ for financial accounting, WireXchange® for wire transfer processing, ConvergeIT® for interactive voice response, Source Capture Solutions® for remote deposit capture and Virtual Branch®: Loan for online lending as well as card production services.