Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions and the largest provider of business-driven technology solutions for credit unions, announced today that Complex Community Federal Credit Union in Odessa, Tex., has signed an agreement to implement the Portico(TM) account processing platform from Fiserv. In doing so, they plan to move their technology operation from in-house to an online service bureau environment. After a competitive review of solutions, the $273 million institution chose Portico based on the robust functionality, disaster recovery capabilities and the track record of superior client service delivered by Fiserv.
In addition to Portico, Complex Community FCU will implement a wide range of Fiserv solutions to meet the needs of its 30,000 members, including Card Services for debit card processing; Virtual Branch(R) for online banking, lending and bill payment; eFichency(SM) for document imaging; Loancierge(TM) for loan origination; AML Manager for regulatory compliance; ConvergeIT(R): IVR for audio response; electronic statements; Wisdom(TM) ALM for asset liability management; and Mobile Money(TM) for mobile banking. Complex Community FCU will implement Portico in March 2011.
"We looked to Fiserv because we wanted a technology provider that would be able to make ongoing investments in research and development to keep us on the leading edge of technology, and had established a strong reputation for customer service," said Jason Berridge, Chief Executive Officer for Complex Community FCU. "We reviewed several systems and in the end my staff voted unanimously that Portico was the right product to meet our needs."
Complex Community FCU's decision to move from an in-house solution to the online Portico solution supports a growing trend among credit unions seeking an economical way to keep pace with ever-evolving technology, while reducing maintenance expenses. Outsourced solutions can provide credit unions of all sizes with advanced functionality, streamlined upgrades and superior disaster recovery capabilities already in place.
"We are pleased to earn the opportunity to serve Complex Community Federal Credit Union. This agreement reinforces the commitment Fiserv has made to continually invest in innovative technologies to serve the nation's credit unions, and the depth and breadth of solutions Fiserv can deliver to its clients today," said Albert Ku, segment executive for Credit Union Solutions at Fiserv.
Based on a service-oriented architecture, Portico is a sophisticated service bureau account processing solution with a zero footprint infrastructure that delivers unmatched reliability. With an interface built entirely in Microsoft .NET, Portico supports growth and drives efficiencies by offering intuitive navigation, logical workflows and expedited training. Portico features tight integration to value-added solutions, including loan origination, audio response, online banking and document imaging applications from Fiserv.