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hadn’t come until early 2010, at Christian Community Credit Union. However, as seen below, not everything has gone to plan, to say the least. FIS gives Fiserv a run for its money in the high-end


banking sector and in 2011 picked up United Bancshares ($9 billion and 111 branches in five states) for its Integrated Banking Services (IBS). A win at American Chartered Bank ($2.4 billion) was also worthy of note. Brookline Bank ($4.8 billion) was the standout deal for


Jack Henry & Associates that year, the third of the ‘big three’ suppliers (down from four when Metavante was acquired by FIS in 2009). Massachusetts-based Brookline acquired the Silverlake system plus a host of the supplier’s other applications. The deal was largely driven by the need to standardise on one platform following the acquisitions of Ipswich National Bank and Bank RI. The consolidation of systems included CRM and internet banking. Other bank deals for Jack Henry, in the $1-3 billion asset sector, comprised Midland States Bank, Think Mutual Bank, First Community Bank and UniBank. Of Jack Henry’s five mid-tier signings for Silverlake in 2011, four opted for an outsource model. While Fiserv seemed to grab the larger credit union deals on offer, Jack Henry is an important player in this sector as well, with its Symitar division. It has two systems, Episys and Cruise, the latter aimed at the smaller credit unions. One trend during 2011 was a shift of Episys users from in-house deployments to outsourcing (Episys as a Service – EASE, although slightly confusingly, EASE includes Cruise as a service as well). Jack Henry announced that 16 existing in-house credit union users had moved to outsourcing between mid-2010 and the end of 2011 (by way of comparison, only one user moved this way in 2008). However, bucking the trend was Jack Henry’s largest known credit union deal of the year, from Pennsylvania-based Clearview Federal Credit Union, a $730 million institution that decided on an in-house implementation. Why the shift to outsourcing? The credit union space has been hit hard by new capital requirements but, due to their mutual status, there is only so much they can do to improve efficiency and moving to outsourcing is one route. Slightly down the pecking order in 2011 were Open


Solutions (now Fiserv) and Harland Financial Solutions (now D+H). Open Solutions’ largest known bank and credit unions deals for its DNA flagship platform were Cambridge Savings Bank ($2.1 billion in assets) and Affinity Federal Credit Union ($1.9 billion). First State Bank ($1 billion) and Standford Federal Credit Union ($1.2 billion) were the other known deals within institutions at or above the $1 billion asset mark. The latter was a rather rare Wealthview ‘convert’. Wealthview was added to Open Solutions’


software


portfolio with the acquisition of Canada-based Fincentric in early 2007 but the users have not rushed to DNA. Harland’s deals were mainly for its Phoenix solution,


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with eight wins, all to banks below the $1 billion mark. There were also a couple of wins for its Sparak system and a small credit union success with its Ultradata system. Harland is seeking to move Ultradata users to Phoenix and three had completed the move by 2011: Dupaco Community Credit Union, Consumers Credit Union and Spokane Teachers’ Credit Union. One of the larger Ultradata users, Langley Federal Credit Union ($1.5 billion) was intending to go the same way. Harland has been adding credit union functionality into Phoenix and suggested that those credit unions that were becoming more commercial should look to head this way. However, Harland said it had no plans to ‘sunset’ Ultradata and that it was still applicable for smaller credit unions. What of the upstarts? Well, both Vsoft Corporation and


Corelation made progress. Vsoft gained a second taker for its new system, Coresoft, in the form of $700 million community bank, Evans Bank, beating FIS, Fiserv, Harland and Jack Henry. The system is Java-based and was originally built for 140-branch Carter Bank. Corelation gained Orion Federal Credit Union and


Prospectors Credit Union for its Keystone system during 2011 and claimed three others. The supplier started the year without a live site but saw cut-overs at Harbor Federal Credit Union, Cabrillo Credit Union and Oregon Pioneer Credit Union. There is an in-house option and an outsource one, via partner, Wescom Resources Group (two additional 2011 signings, Arkansas-based ALPS FCU and Georgia Heritage FCU, opted for the latter). Corelation is a California start-up from a number of ex-Symitar developers, and Cabrillo and Harbor signed within a week of each other as first takers in March 2010.


2012


Throughout the year, Fiserv’s Acumen seemed to pick up momentum with new-name wins including Florida’s fifth largest credit union, Midflorida Credit Union, with $1.6 billion in assets. This institution signed in late 2012. Others included CFE Federal Credit Union, a $1.3 billion institution in Florida (it merged with University of Central Florida FCU in late 2011), $872 million Northrop Grumman FCU, and Nebraska’s largest credit union, SAC Federal Credit Union, with around 70,000 members and $570 million of assets. In mid-2012, Fiserv’s taker of the previous year, Trustone Financial FCU, apparently went live with Acumen to replace its 20-year-old Ultradata system from Harland. The credit union, with $739 million in assets, selected Acumen ahead of Episys from Jack Henry/Symitar, Open Solutions’ DNA and Corelation’s Keystone. The latter was deemed too small for Trustone. There was, however, a loss of business for Fiserv in 2012, with three high-profile credit union failures for Acumen. Conexus in Canada, plus US-based Gesa Credit


Market Dynamics Report www.ibsintelligence.com


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