WINSTON-SALEM, N.C.—The $1.43-billion Allegacy FCU here said it has signed an agreement with Fiserv. The CU said it made the move to 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 with Allegacy Federal Credit Union, in a statement. “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 an enriched experience, faster service and improved security around their accounts.”
The credit union will be moving to DNA, which Fiserv describes as a continuously available real-time core account processing platform with an open architecture, along with other integrated solutions from Fiserv to streamline loan originations, enhance wire services, reduce fraud, improve and automate marketing programs and create customized, personalized statements, according to the company.
Other Solutions Selected
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 with Allegacy FCU, in a statement. “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.”
“Fiserv shares Allegacy Federal Credit Union’s focus on innovation and member service,” added Vincent Brennan, president of Credit Union Solutions with Fiserv, in a statement. “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.”