With addition of Verve, half of all $1 billion-plus credit unions in Wisconsin now rely on Fiserv for core account processing
Fiserv, Inc., a leading global provider of financial services technology solutions, announced 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.
Read More: The Timken Company Celebrates 120th Anniversary by Ringing NYSE Closing Bell
The credit union selected DNA from Fiserv, citing the platform’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.
Read More: FintechOS Raises GBP 10.7 Million (USD 14 Million) Series A for Global Expansion
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.”
