Credit union will leverage core account processing platform and multiple integrated solutions from Fiserv to expand its commercial business and increase efficiency.
BROOKFIELD, Wis. — (BUSINESS WIRE) — September 19, 2019 — Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Velocity Credit Union, based in Austin, Texas, has selected Fiserv as a key technology provider as the credit union diversifies into business services and automates processes.
Velocity Credit Union has a long history of serving the greater Austin area. In recent years, the credit union has focused its strategic efforts on enhancing services for small businesses and creating a better digital experience for members. The credit union chose DNA(R) from Fiserv to improve loan servicing capabilities for business and real estate, and to facilitate the integration of third-party solutions through the platform’s open architecture.
“To remain competitive, we must offer the best possible digital services to business accounts and individual members,” said Debbie Mitchell, president and CEO, Velocity Credit Union. “Faster integration of the latest market innovations, which is possible with an open architecture platform like DNA, means we can quickly deliver the latest services to members. This helps us stand out and shows the business community and our members that we are invested in them.”
DNA is a modern core account processing platform that provides powerful, built-in commercial servicing capabilities to support business account growth. The platform’s open architecture makes it easier for financial institutions to integrate other solutions, bring products and services online quickly, and add new capabilities using downloadable DNAapps(TM).
As part of their technology transformation, the credit union also added several integrated solutions from Fiserv including general ledger, item processing and enterprise payments.
“Growth oriented credit unions are increasingly focused on improving offerings for small businesses and entrepreneurial members, in no small part because these areas drive growth and retention across the member base” said Vincent Brennan, president, Credit Union Solutions, Fiserv. “We are looking forward to working with Velocity as it creates value for its members and community with the premier retail and commercial functionality of DNA.”
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.
About Velocity Credit Union
Chartered in 1947 to serve City of Austin employees, Velocity Credit Union is now open to anyone who lives or works in the five-county area (Travis, Hays, Williamson, Bastrop and Caldwell). The credit union prides itself on being active in the Austin area community with support for city sponsored events and non-profit organizations whose goal is to help local members, children, pets and veterans. They are also a proud supporter of the Austin Theatre Alliance and a long-time corporate sponsor of the historic Paramount theatre.
Today, Velocity is one of the largest and strongest credit unions in the state of Texas with over $840 million in assets and more than 88,000 members.
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(TM) cloud-based point-of-sale solution. Fiserv is a member of the S&P 500(R) Index and the FORTUNE(R) 500, and is among the FORTUNE Magazine World’s Most Admired Companies(R) . Visit fiserv.com and follow on social media for more information and the latest company news.