Dakota Plains Credit Union focuses on commercial lending and member experience with move to XP2 platform from Fiserv
Hosted Software as a Service (SaaS) model will enhance efficiency while enabling the credit union to deliver superior member services in step with the Speed of Life
BROOKFIELD, WI (July 25, 2016) — Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Dakota Plains Credit Union, based in Edgeley, North Dakota, has selected an integrated technology suite from Fiserv. The suite includes XP2® for core account processing as well as solutions for online and mobile banking, electronic payments, statements, and card processing. Dakota Plains will move from their existing providers to the new solutions in order to provide a more robust and seamless experience that meets the needs of members.
The commercial lending capabilities of XP2, overall functionality, member service support and leadership from Fiserv were cited by the credit union’s leaders as key benefits of the selection.
“Our members live and work in thriving farm communities, and our credit union has strong demand for commercial and agricultural loans. We needed a new integrated core technology suite to service these loans with high efficiency,” said Michael Reisnour, president and CEO of Dakota Plains. “The integrated suite greatly expands our service capabilities, and outsourcing these products enables us to focus more of our attention on new products and services to satisfy our members.”
Dakota Plains was founded in 1941, and currently has more than $68 million in assets and more than 4,000 members. Over the past seven decades, the credit union has grown and expanded to serve anyone living within a 75 mile radius of the home office in Edgeley. The partnership with Fiserv empowers Dakota Plains to outsource the management of mission-critical technology to Fiserv to enhance efficiency and reduce cost. This will enable Dakota Plains to focus internal resources on driving loan growth through XP2-enhanced functionality for commercial lending.
“Growing credit unions drive the development of communities, and Fiserv is committed to providing the innovative technology that enables their success,” said Santo Cannone, chief product officer, Credit Union Solutions, Fiserv. “The integrated XP2 suite will help increase Dakota Plains’ efficiency and allow them to deliver a portfolio of products and services that reflect the way people live and work today.”
The technology suite selected by Dakota Plains includes XP2 for core account processing, Virtual Branch® for online banking, Mobiliti™ for mobile banking, CheckFree® RXP® for electronic payments, Statement Advantage™ for statements and e-statements, Wisdom™ for comprehensive accounting and call report functionality, Nautilus® for enterprise content management, as well as solutions for enhanced commercial lending and card processing.
Fiserv is the U.S. market leader in account processing services, and more than one-third of U.S. financial institutions rely on Fiserv for account processing solutions and expertise. XP2 enables the success of credit unions through an easy-to-use interface that can streamline processes, drive member satisfaction and grow loan portfolios.
In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life. Learn more at TheSpeedofLife.com.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud- based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been recognized as one of FORTUNE World's Most Admired Companies® for 11 of the past 14 years and named among the World’s Most Innovative Companies by Fast Company for two consecutive years. Visit fiserv.com and follow on social media for more information and the latest company news.