Credit Unions Benefit from Advanced Functionality and Expanded Capabilities with Fiserv Core Platform Enhancements
Cloud deployment, new integrations equip credit unions for innovation
BROOKFIELD, Wis., October 17, 2023 – Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, continues to enhance its core banking platforms to provide greater flexibility, infrastructure resilience, and scalability, facilitating innovation and growth among its credit union clients.
One of multiple Fiserv cloud-based platforms, Portico® from Fiserv allows credit unions to operate more efficiently while meeting the demands of today’s members. More than 500 credit unions currently utilize the platform.
Following recent updates, Portico now operates in a cloud environment within Microsoft Azure. Continual technology upgrades and third-party integrations enable credit unions to deliver superior digital and in-person financial services, from any place, at any time.
“We are focused on powering credit unions with technology that allows them to operate more efficiently and respond quickly to their members’ changing needs,” said Doug Donofrio, senior vice president and Head of Credit Union Solutions at Fiserv. “With the migration of Portico to the cloud, clients will enjoy greater flexibility, with the ability to enhance the experience of both staff and members, and will be able to access additional capabilities via both Fiserv and third party integrations.”
A cloud-based deployment model helps financial institutions deliver maximum uptime, enabling the continual delivery of a consistently excellent client experience for credit unions and their members. Benefits including improved monitoring tools, architecture enhancements for speed and efficiency, tightly monitored controls, and compartmentalized disaster recovery environments, reducing complexity and potential points of failure.
New Integrations Equip Credit Unions for Innovation
Recent third-party integrations into Portico include MessagePay, a solution that allows credit union members to make self-service ACH and debit card payments on their outstanding loans, and Eltropy, a digital conversations platform that powers two-way texting capabilities between members and their credit unions, with texts generated directly from the Portico platform.
Honolulu Fire Department Federal Credit Union took advantage of both the MessagePay and Eltropy integrations with Portico, creating a real-time solution for members to make loan payments and see the results instantly within their digital banking applications.
“We pride ourselves on offering unique solutions to our fire department and firefighter membership, equipping them to manage their finances in the ways that are most convenient for them, at any time of the day or night,” said Guy Usui, CEO, Honolulu Fire Department Federal Credit Union. “With Portico at the heart of our credit union, we have the flexibility to quickly respond to our members’ changing needs.”
Based on a service-oriented architecture, Portico is a sophisticated, service-bureau, real-time transaction account-processing solution with a zero-footprint infrastructure that delivers unmatched reliability. Portico supports credit union growth by offering intuitive user experience, logical workflows, and expedited training.
In a world that is moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.
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