SEFCU selects Fiserv to further member-centric growth strategy
Credit union charts course for growth with move to a new core platform built around member relationships
BROOKFIELD, WI (August 15, 2017) — Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that SEFCU, headquartered in Albany, New York, has selected Fiserv as a technology partner to help drive the credit union’s member-centric growth strategy and deliver greater efficiencies throughout the organization.
The credit union evaluated multiple systems, and identified DNA® from Fiserv as the platform that provided the right combination of capabilities, including a sophisticated, modern technology stack, the ability to scale to potentially handle billions more in assets and accounts, and real-time, 24×7 processing capabilities. SEFCU will convert from its current account processing provider, and move from an in-house to an on-demand delivery model.
SEFCU is among the top 50 credit unions in the U.S., with approximately $3.5 billion in assets and more than 350,000 members in communities across New York. For 11 consecutive years, SEFCU has been voted Best Bank/Credit Union in the annual Times UnionReader’s Poll. It carries a deep commitment to social responsibility toward the residents of its charter communities.
“At SEFCU, we want to change the world. The success of that mission depends on the strength of three strategic pillars – Employees, Members, and Community,” said SEFCU president and CEO Michael J. Castellana. “We will leverage DNA to the benefit of all three, reinventing and driving efficiencies throughout our organization. The platform will allow us to better serve our members, grow, and enhance our ability to give back to the communities we serve.”
SEFCU has a large footprint in New York, with 47 branches. As a part of its strategy, it will focus on expanding digital and online services from the backbone of DNA to complement its physical locations.
The credit union also will be able to gain better insight into members, thanks to the person-centric architecture of DNA. This architecture focuses credit unions’ line of sight on the members and businesses they serve, presenting information in a way that provides a full view of those relationships. Even at scale, it allows credit unions to keenly understand, serve, and market to members.
“SEFCU chose Fiserv to help enable their focus on ‘changing lives every day,’” said Vincent Brennan, president, Credit Union Solutions, Fiserv. “We welcome them to our growing, collaborative client community and look forward to putting our technology and expertise to work to help them deliver on the evolving expectations and needs of their members.”
SEFCU is the fifteenth credit union to select Fiserv for account processing this year.
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. 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 fiserv.com.
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About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, 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 and has been recognized as one of Fortune® World’s Most Admired Companies™ for 9 of the last 10 years. Visit fiserv.com and follow on social media for more information and the latest company news.
