proving to be roughly 50/50, according to Deese. In August 2016, Fiserv announced that Merchant Bank of Sri Lanka & Finance PLC (MBSL) had selected the Signature® core account processing platform and Teller front-end teller system.
In September 2016, Fiserv partnered with FCTI Inc., (FCTI), a nationwide ATM network company, to provide transaction processing for nearly 8,000 ATM terminals at franchise- and corporate-owned 7-Eleven stores across the United States. In November 2016, Fiserv announced the addition of
CrowdStrike’s SaaS-based endpoint protection technology to its multi-layered SentrySM Cyber Security offering. The partnership integrates CrowdStrike’s Falcon to create an additional layer in the Sentry SM Cyber Security for advanced threat detection helping customers stop cyber breaches.
Recent Activity
Fiserv has snapped up no less than 25 credit unions, at once gaining a set of customers with assets of around $2.5 billion and a customer base of 250,000. All 25 of the credit unions opted for the vendor’s CUnify account processing system, with five of the number being completely new core processing clients. Among these is 1st Ed Credit Union, based in Chambersburg, Pennsylvania. With around $125 million in assets and 6,400 members, it selected a stack of solutions from Fiserv including ConvergeIT IVR, Data Vaulting, Digital Document and other tools for eStatements, online banking and call centre functionality. US-based Vibrant Credit Union has completed its conversion to Fiserv’s DNA account processing platform. Vibrant has also implemented a number of integrated solutions from Fiserv including the CRM and Business Intelligence suite, Digital Document, tMagic teller capture, Credit Card Management and other card solutions, Prologue accounting suite, Vantage Risk & Budgeting Manager, and item processing. More than 20 US FIs, ranging from the $18.7 billion First Hawaiian Bank to community banks and credit unions, have chosen Fiserv’s Corillian Online ASP solution during the past six months. This offers a simplified, tablet-inspired user interface that surfaces the most commonly used online banking and payments functionality together on a single page. West Community Credit Union, a credit union with more than $150 million in assets and 19,000-plus members, has integrated Corillian Online with its Spectrum core account processing platform as part of its digital banking and payments solution set, which also includes Fiserv’s Mobiliti for mobile banking, CheckFree RXP, Popmoney, TransferNow and AllData PFM. In 2016, Fiserv had signed three credit unions in British
Columbia, Canada, for its DNA account processing platform. North Peace Savings and Credit Union (NPSCU), Bulkley Valley Credit Union (BVCU) and Spruce Credit Union (SCU), will be aided by Fiserv partner Celero in the conversion of their
US Financial Services Technology Market Report |
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systems. Celero will also take on a hosting role for NPSCU and SCU, while Fiserv would support BVCU. FIS has won its three-year battle with rival Fiserv over allegations that it infringed four business method patents. FIS and another domestic banking software provider, Metavante (which FIS acquired in 2009), were sued in the United States District Court by Fiserv subsidiaries CheckFree and CashEdge in January 2012 for allegedly infringing the patents. Fiserv claimed that certain features of FIS’s financial and payment solutions, including its Payment Manager product, infringed the asserted patents.
In December 2016, Fiserv was appointed as the technology partner of First Financial Bank in the US as a part of the bank’s aim to boost its digital banking services. The bank is implementing several business-focused platforms from Fiserv’s offerings including Mobiliti, Business Online, CheckFree Small Business and Mobile Source Capture. It had converted to Fiserv’s Cleartouch bank platform in April 2016. In March 2017, US-based Iroquois Federal Savings & Loan
Association selected the Premier core account processing platform and other integrated Fiserv solutions, as its new technology foundation. In the same month, US-based Iroquois Federal Savings & Loan Association chose the Premier core processing system, online and mobile banking solutions for consumers and businesses, CheckFree RXP and CheckFree Small Business for online bill payment, Popmoney for personal payments, TransferNow for account-to-account transfers and a range of card services and item processing solutions, to modernize its front-to-back office technology. In May 2017, First National Bank of Pandora selected the
Premier core account processing platform and announced the consolidation of ten existing vendors in the process. In particular, the US bank selected Retail Online and Business Online for consumer and business online banking, Mobiliti for mobile banking, and CheckFree RXP for the likes of electronic bill payment, web hosting and design services. During the same month, US based Apple Creek Bank also chose the Precision core account processing platform, additional back- office tools, and services for retail and business customers that includes Retail Online and Business Online for consumer and business online banking, Mobiliti for mobile banking, CheckFree RXP for online bill payment, Director for enterprise content management, and additional solutions.
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