contract with the vendor. Navigant CU had shortlisted DNA as part of its original selection process in early 2012, but selected Acumen due to concerns about Open Solutions’ financial situation. The plans to move Acumen’s front-end components onto DNA would still go ahead, according to the vendor. TruStone Financial Federal Credit Union, on the other hand, ditched Acumen, less than two years after the deployment, and went with the Episys offering of Jack Henry’s Symitar division, having evaluated the DNA route. It cut over in June 2014. According to the vendor’s full year results, 2013
brought 31 takers for DNA, all in the US, with most moving from Acumen and other Fiserv platforms. Among these were: Heritage Bank in Washington; Community Bank of Wheaton/Glen Ellyn; Evansville Teachers Federal Credit Union in Indiana; Maine-based First Federal Savings & Loan; Texas-based Randolph-Brooks Federal Credit Union; and Michigan-based Wildfire Credit Union. This didn’t look far off what Open Solutions had been doing under its own steam (albeit, of course, without captive user bases to sell into).
DHCU Community Credit Union is going through an enterprise-wide brand and technology revamp, shortly changing its name to Vibrant Community Credit Union and its core system to Fiserv’s DNA. The contract with Fiserv was signed on 30th December 2014 and the dedicated project team was assembled in January 2015. Telhio Credit Union, a US community bank based in Columbus, Ohio, is implementing Fiservs DNA platform as its new processing platform. Scalability and adaptability were major reasons behind the selection. DNA will be replacing Telhios legacy system, Ultradata, supplied by D+H Corporation. As well as gaining DNA from Fiserv, Telhio will also be adding a suite of CRM and analysis solutions from the vendor In December 2016, three credit unions, Arkansas Federal
Credit Union, Consumers Credit Union and Andigo Credit Union selected Fiserv’s DNA system. In addition to DNA, Arkansas Federal selected multiple
integrated solutions from Fiserv, including Verifast™ for in- person authentication, Nautilus® for enterprise content management, a suite of CRM and business intelligence solutions, tMagic™ teller capture, card services and Statement Advantage™. Andigo Credit Union - the eighth largest credit union in Illinois, selected DNA along with Verifast™: Palm Authentication and Nautilus. Consumers Credit Union also selected Weiland Account AnalysisTM from Fiserv.
In February 2017, Massachusetts based mutual bank Salem Five, selected Fiserv’s DNA account processing platform along with a host of other solutions including digital banking and payments. In March 2017, Milwaukee based PyraMax Bank selected Fiserv’s core banking solution DNA along with integrated mobile, online and branch banking solutions. The deal also included Verifast™: Palm Authentication, Fiserv’s proprietary biometric system. In April 2017, US-based SouthEast Bank announced the selection of the DNA core account processing platform from Fiserv, along with a range of payment, branch banking, customer relationship management, and business
82 US Financial Services Technology Market Report |
www.ibsintelligence.com
intelligence solutions. In May 2017, US based Whatcom Educational Credit Union (WECU) replaced its
existing
core processing system with DNA core account processing platform and Architect for digital banking. In the same month, In May 2017, six credit unions with assets of over $1 billion selected DNA, Fiserv’s account processing platform, along with a variety of integrated surround solutions from the company to meet their own unique goals. The credit unions include Army Aviation Federal Credit Union (based in Daleville, Alabama), Central Credit Union (based in Columbus, Indiana), Collins Community Credit Union (based in Cedar Rapids, Iowa), FORUM Credit Union (based in Fishers, Indiana), Franklin Mint Federal Credit Union (based in Broomall, Pennsylvania), and General Electric Credit Union (based in Cincinnati, Ohio). In August 2017, SEFCU credit union, headquartered in
Albany, New York, chose to implement DNA. In the succeeding month, Texas based Amplify credit union chose Fiserv DNA, the sixteenth one to do so in 2017. Other customer wins were New York based Dime Commmunity Bank and Cyprus based Hellenic Bank. In December, five credit unions with assets between $400M and $2.7B also signed up for DNA, followed by Motor City Community Credit Union in January 2018 and Kawartha, a $1.5 billion (Canadian) asset credit union in February 2018.
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