A group of four credit unions have chosen the DNA account processing platform from Fiserv through USICOOP, a Puerto Rico-Based cooperative.
The four credit unions include Credicentro Coop, MaunaCoop, CamuyCoop and CoopRincón. They will use the DNA platform to improve efficiency and provide the technical foundation to attract additional credit unions to the co-op.
The unions, with more than 100,000 membership, have developed USIcoop last year to cost-effectively transform their enterprise technology and to lead a technological transformation in the island’s financial services industry.
Using Fiserv’s DNA, USICOOP credit unions will benefit from 24/7 real-time processing, robust retail, mortgage and commercial banking capabilities and a 360 degree view of their retail and business relationships.
Additionally, the credit unions will implement DNAweb for online banking, Velocity for loan origination, Voice Response, and the CRM and business intelligence suite for DNA.
USICOOP and president MaunaCoop board chairman Carlos Crespo said: "For many Puerto Rican credit unions, the core platform has become an impediment to growth, obstructing our ability to keep current with changing regulations, technological innovations and member needs.
"DNA offers a modern, compliant platform that integrates with a vast array of Fiserv products for a truly robust, enterprise-wide solution. With DNA, USICOOP credit unions will be able to compete more effectively with the latest products and services."
CamuyCoop USICOOP member credit union president Michelle Franqui said: "The platform’s open architecture broadens our hardware and software options. Better yet, with DNAcreator and DNAappstore, we’ll be able to pool our resources with other USICOOP credit unions to create and implement our own custom solutions."