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Fiserv Launches New Account Processing Solution For Credit Unions

Features a ubiquitous browser interface for both front-end and back-office applications

Fiserv, a provider of financial services technology solutions and business-driven technology solutions for credit unions, has developed a new global account processing solution – Acumen. Reportedly, it is designed to transform the way large credit unions do business. Acumen supports growth with its server deployment model that allows credit unions to scale their operation quickly. Acumen was built from the ground up using Internet technologies like Java and AJAX.

Fiserv has said that the solution’s architecture gives credit unions capabilities for creating and implementing custom applications. Acumen is deployed on Linux servers, which support simple and affordable scalability for growth. Continuous database replication allows Acumen to achieve premium uptime, as well as provide disaster recovery capabilities.

Scott Butler, president of Credit Union Solutions at Fiserv, said: “Acumen was designed for a very specific segment of the credit union market and with the unique needs of some of our largest clients in mind. It was built for those seeking to transform and differentiate their strategies and services through technology. Open at every architectural level, Acumen gives large, IT-savvy credit unions total ownership and control over their technology strategy. Acumen is a great example of Fiserv innovation at work, and showcases our investment in next-generation platforms that will change the game for the largest, most progressive credit unions.”

Sara Brooks, senior vice president, strategy and offerings development for Credit Union Solutions at Fiserv, said: “It’s very rare that you can use the words ‘new’ and ‘proven’ in the same breath, but we make a point of learning from every new way in which we apply technology. In this instance, we’re taking what we’ve learned from our deployments in Canada, and evolving the solution to suit the needs of the US industry.”

John Lahey, chief executive officer for $2 billion Alterna Savings and Credit Union, which serves 130,000 members in Ontario, said: “Acumen has been and will continue to be a critical tool for the Canadian credit union system, one that offers premium technology support. We’re proud to have been with Fiserv every step of the way as they introduced this new solution to the market. And now that Fiserv is offering the solution to credit unions in the U.S., we are excited to have access to even greater resources and added functionality from a stable provider we know we can depend on.”