Financial Technology

Financial Technology

March 19, 2012

Members Credit Union Picks Fiserv XP2 for Account Processing

Fiserv, a provider of account processing software, has announced that Members Credit Union, based in Winston-Salem N.C., has chosen its XP2 account processing software. The credit union has around $232 million and serves more than 50,000 customers.

“XP2 was simply technologically superior to other solutions we considered. The way the system shows all member account relationships through a 360-degree view is just one example of how this modern account processing platform provides the technological support that can help us drive efficiency and improve member service,” Kack Braswell, CEO of Members Credit Union said.

The package features Microsoft .NET (News - Alert) architecture and is backed by an IBM DB2 database. “With scalable technology and established interfaces for a broad range of enterprise solutions, XP2 supports credit unions' growth and drives operational efficiency,” a statement by Fiserv said.

The system allows the credit union to integrate their multiple software products, including the LynxGate for switch gateway processing and the ConvergeIT: IVR interactive voice response package they are also implementing.

“With its advanced technology and established integration for a broad range of our solutions for card services, online banking and more, XP2 demonstrates the Fiserv goal to deliver an enterprise-wide solution for financial institutions from a single technology provider,” Naseer Nasim, segment executive for XP2, Credit Union Solutions, Fiserv said. “Fiserv provides Members Credit Union and other organizations like it with a total solution to support its business goals.”

In addition to Members Credit Union, Northrop Grumman (News - Alert) Federal Credit Union is also implementing Fiserv’s Acumen account processing solution. “The capabilities of Acumen are well suited to help us improve efficiency, even in the decentralized structure of our credit union. The workflow processes enable our staff to virtually manage branches more effectively, efficiently and consistently,” Matt Herbert, president and chief operating officer, Northrop Grumman FCU said.

In addition, Fiserv has just launched the Retirement Illustrator retirement planning tool. Customers can see all their options and try various plans in a fully graphical environment.

Edited by Jennifer Russell

blog comments powered by Disqus