BROOKFIELD, Wis.–Fiserv reported that over the last five months more than 20 financial institutions have completed remote core conversions to the company.
“While travel and social distancing requirements remain in place across the U.S., many financial institutions are eager to move forward with updates that will allow them to better serve consumers, driving new levels of demand for remote processes,” the company said.
Among those institutions have been a number of credit unions, including Family 1st of Texas FCU, as well as Hoboken School Employees FCU, both of which converted their systems in early April, along with Allegacy Federal Credit Union in May.
“This was a long-planned, digital enablement move that came at a time when we are looking for every possible way to stay close to our members,” said Sandra Szymanski, CEO of $16-million Family 1st Credit Union of Texas. “The Fiserv team worked quickly in an unpredictable, largely remote environment to deliver. The new tools and member service options will help us as we continue to navigate COVID-19 in Fort Worth.”
Fiserv said it is committed to moving its conversion pipeline forward remotely for as long as is needed, in accordance with guidance from national and local healthcare leaders.
Working in New Ways
“COVID-19 has compelled us to work in new ways, and our clients and associates have come together, not missing a beat as we have completed these mission-critical conversion projects,” said Todd Horvath, group president of account processing at Fiserv. “We will continue to leverage our expertise in remote operations and help financial institutions advance their strategic objectives.”
Continuing Momentum Toward SaaS
In addition to the remote core conversions, Fiserv said it has also completed remote migrations for more than a dozen financial institutions who have chosen to move from in-house account processing to a SaaS model. Many organizations have found the challenges of COVID-19 to underscore the value of outsourcing IT functions to a partner with scale and robust resources.