With addition of Verve, half of all $1 billion-plus credit unions in Wisconsin now rely on Fiserv for core account processing
BROOKFIELD, Wis.--(BUSINESS WIRE)--Jan. 8, 2020--
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Verve, a Credit Union, based in Oshkosh, Wisconsin, will enable its ongoing innovation and growth by moving to Fiserv for core account processing.
Verve has been growing rapidly since 2014 through organic expansion and a series of credit union mergers. Recently, the credit union announced its intent to acquire a bank in downtown Chicago, its first bank acquisition, and has plans to continue its growth trajectory.
The credit union selected DNA® from Fiserv, citing theplatform’s open architecture and APIs that facilitate integration with additional solutions from Fiserv and third parties, as well as the platform’s ability to support servicing of all loan types from a single system. These functions will help Verve continue to deliver the capabilities and experiences members and employees expect as it grows and brings acquired financial institutions into the fold.
“We want to be in a position to offer our members services before they realize they need them,” said Karrie Drobnick, chief marketing and strategy officer at Verve. “Fiserv and DNA will expedite our ability to do that, whether it’s through Fiserv or a third-party solution. This is just one of the areas where we have valuable strategic alignment with the Fiserv team. We both put member experience at the center of what we do.”
DNA is a modern, unified core account processing platform that provides a global view of member relationships, enabling financial institutions to deliver personalized service and more relevant product offerings. The open architecture of DNA makes it easy for financial institutions to integrate other solutions, bring products and services online quickly, and extend the capabilities of DNA with downloadable DNAapps™.
As part of their technology transformation, the credit union also added several integrated solutions from Fiserv including enterprise content management, item processing, wire transfer and financial accounting.
“Our aim is to make every experience at every credit union we work with matter – and that aligns directly with Verve’s strategic vision,” said Byron Vielehr, executive vice president and senior group president, Fiserv. “The strong retail and commercial functionality of DNA helps growth-minded credit unions meet member needs for new services and allows their employees to interact and deliver meaningful experiences in a frictionless way.”
In addition to Verve, Superior Choice Credit Union recently selected Fiserv, choosing DNA for account processing.
Superior Choice Credit Union, based in Superior, Wisconsin, wanted a platform that would help improve operational efficiencies, including streamlining processes, and expanding commercial capabilities. Open since 1932, Superior Choice Credit Union serves more than 29,000 members.
In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
Originally founded in 1937 as Wisconsin Axle Credit Union in Oshkosh, Wisconsin, Verve later merged with two other credit unions in 2014 and rebranded to Verve, a Credit Union. The name was chosen to represent the qualities that define the organization: enthusiasm, energy, strength and drive. The name is also reflective of how we serve our members and community. Today, Verve is one of the largest credit unions in the state of Wisconsin, and will have over $1.2 billion in assets, more than 66,000 members and 21 locations once recently announced acquisitions are complete. Visit verveacu.com to learn more.
Fiserv, Inc. (NASDAQ: FISV) 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 solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among the FORTUNE Magazine 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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Source: Fiserv, Inc.
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