Allegacy Federal Credit Union, a $1.43bn financial institution, is set to upgrade its core platform with an integrated suite of Fiserv solutions.
The credit union will switch to Fiserv’s DNA, a real-time core account processing platform and other integrated solutions.
Go deeper with GlobalData
The move is expected to rationalise loan origination process and reduce frauds. Additionally, it will also enable Allegacy Federal to automate marketing initiatives and deliver personalised statements.
Allegacy Federal will also deploy Fiserv’s Verifast Branch biometric solution. It scans the respective member’s palm-vein pattern for authentication as well as helps in increasing front-line efficiency.
Allegacy Federal Credit Union president and CEO Cathy Pace said: “We needed a comprehensive solution to support our strategy of expanding commercial and member relationships, while providing the efficiency, integration and real-time processing benefits needed to manage our ongoing growth.
“In the past five years we have opened six new financial centres with one more scheduled for this fall.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“Enhancing our core enables us to continue that growth and better serve our members with a enriched experience, faster service and improved security around their accounts.”
The credit union serves more than 151,000 members worldwide. The company has 16 locations and eight high school student-run credit unions.
Fiserv offers financial services to its clients worldwide. Earlier this month, Mercury Payment Services and Arion Bank selected Fiserv to streamline AML processes and reduce fraud risks.
