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Eleven more credit unions convert to the Portico account processing
platform
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Fiserv receives high-praise for implementation and service
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Portico's open architecture enhances flexibility and options for
credit unions
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Fiserv
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today details of increasing adoption of
its Portico® account processing solution, including nearly a
dozen credit unions serving members in 12 states.
"With recent signings and conversions, we are delighted to welcome 11
additional credit unions to our Portico account processing solution,"
said Mark Sievewright, president, Credit Union Solutions, Fiserv. "With
more than 360 clients now using Portico, it is a proven solution for
credit unions that need robust, powerful and adaptable account
processing technology, available in ASP-mode. Importantly, our strategy
of offering America's credit unions a range of account processing
options means that we don't believe in a one-size-fits-all approach. In
fact, we hear time and again that our ability to offer choice is an
important factor that drives our market leadership position, serving
more credit unions than any other account processing provider. Our focus
remains on enabling best-in-class results for our clients and superior
service levels for their members."
In the past 13 months, Fiserv has converted 11 credit unions to Portico,
accounting for nearly 73 total years of contract commitment. Portico
offers a unique, zero-footprint solution for credit unions, providing
powerful account processing without heavy infrastructure requirements.
It also features an open architecture, allowing for customized
integration and applications. Recent conversions include:
Portico consistently receives high marks on post-implementation surveys,
with near seamless transitions and high credit union and member
satisfaction.
"Our credit union had a 30-year relationship with our prior core
vendor," said Tom Menzies, CEO, R-G Federal Credit Union. "The
conversion to Portico was a major step for us, and what could have been
a stressful process was made easy by the service, support and expertise
Fiserv provided. Our managers and members are now enjoying new
capabilities and significant new efficiencies that sold us on the
solution."
"Everything about the experience — from the incredible conversion team,
to the technology that empowers us to pull reports and analyze data on
our own —has strengthened our credit union," said Cynthia Jenkins, CEO,
Welcome Federal Credit Union. "I'm amazed at what we can do with the
system and appreciate that Fiserv continually provides technology
updates and advancements that keep us moving into the future."
In addition to these new signings and conversions, Portico clients have
also demonstrated notable loyalty to the product. Of clients that have
converted to Portico over the past 10 years, 99 percent have renewed
their relationship with an average contract term of six years.
Some credit union executives are even bringing the technology - and new
acquisitions for Fiserv - with them when changing positions.
"Having come from a credit union using Portico, it - and the support and
service Fiserv offers - have always impressed me," said Chell Callaway,
President and CEO, Kellogg Midwest Federal Credit Union. "When I joined
Kellogg, I wanted to ensure our core processing solution was not only
the best available, but also a forward-looking one that would allow us
to add services and capabilities in the future. Portico was absolutely
the correct choice."
Fiserv is the U.S. market leader in account processing services for
financial institutions. More than one third of U.S. financial
institutions rely on Fiserv for account processing solutions and
expertise, including more than 2,000 credit union core processing
clients.
About Fiserv
This year, Fiserv Inc. (NASDAQ: FISV) celebrates 30 years of leadership
in financial services technology. As one of FORTUNE® magazine's
World's Most Admired Companies, Fiserv is helping clients worldwide
achieve best-in-class results by driving innovation in payments,
processing services, risk and compliance, customer and channel
management, and business insights and optimization. For more
information, visit www.fiserv.com.
FISV-G
Media Relations:
Julie Nixon
Senior Public Relations
Manager
Fiserv Inc.
678-375-3744
julie.nixon@fiserv.com
or
Additional
Contact:
Wade Coleman
Director, Communications &
Thought Leadership
Fiserv Inc.
678-375-1210
wade.coleman@fiserv.com
Source: Fiserv Inc.
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