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Sharenet acquires Express Teller for ATM expansion

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SYRACUSE, N.Y. (8/27/14)--Sharenet has purchased Phoenix-based Express Teller Services, an acquisition that will allow the Syracuse, N.Y.-based ATM provider to expand its services to credit unions and community banks on the West Coast.
 
"We wanted to find talented, experienced individuals within the marketplace that would allow us to expand our reach to the West Coast and, more importantly, give credit unions and community banks easier access to our services," said Sharenet CEO Ray Davis.

"Our goal was to align with a financial institution-focused company that understands the evolving U.S. ATM industry, the complex regulatory requirements involved in operating ATMs, and the challenges and potential for growth," said Josh Ettesvold, president/founder of Express Teller Services.

Ettesvold said Express Teller clients will receive better pricing on transactions, equipment, supplies and services because Sharenet's network gives the company collective buying power which it will pass on in the form of lower prices.

CU24 distributes $1M bonus dividend

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TALLAHASSEE, Fla. (8/26/14)--CU24, a credit-union owned cooperative that provides electronic-funds transfer and payment-related services to small- and mid-size credit unions, will distribute $1 million in patronage dividends to its shareholder credit unions. 
 
The dividends will be distributed in the third quarter. 
 
"The board of directors declared this patronage in accordance with our mission to help our credit unions compete and improve their members' lives," said Mansel Guerry, CU24 president/CEO.  "The dividend is reflective of the company's positive financial performance and the value of participation for credit unions of all sizes."
 
CU24 has disbursed more than $17.5 million to credit union shareholders since the company was established in 1981. 
 
In addition to patronage dividends, shareholders have a voice in the network's structure and governance, including the development and enhancement of services that credit unions need to compete in an increasingly challenging financial services industry. 
 
"Now, more than ever, it is important for credit unions to be part of a credit union-owned organization, an organization that focuses on credit union interests as opposed to maximizing its own earnings," said Guerry.

LaserPro integrates Equifax real-time credit info

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ATLANTA (8/25/14)--D+H's LaserPro loan and mortgage origination service now integrates real-time consumer credit reports from Equifax.
 
Equifax's Credit*HiLite provides consumer credit information from all three credit reporting agencies. LaserPro's consumer and mortgage origination and processing modules will use the information to provide immediate eligibility feedback to the applicant and provide loan options that match the borrower's needs.
 
The integration automatically populates liability, credit score and key factor data into LaserPro, streamlining data entry. Applications are automatically populated with credit report liability data so that lenders can quickly determine ability to repay.
 
"Reducing workflow timelines and eliminating issues associated with manual data entry is pivotal to lenders' success," said Craig Crabtree, senior vice president, Equifax Mortgage Services. "Delays are costly and can quickly pile up, so it is important to have a means of preventing those headaches altogether."
 
The information also populates LaserPro's worksheets for credit score disclosures, risk-based pricing, adverse action notices and credit approval.
 
"Providing this expanded functionality with Equifax as one of the industry's leading credit data providers with LaserPro is a way to help our mutual clients be more accurate and efficient in their lending process," said Mitch Lucas, vice president of product management and legal compliance, D+H.

Inc. taps Symbionce CUSO for fastest-growing list

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EAST HANOVER, N.J. (8/22/14)--Symbionce Financial Solutions, a credit union service organization based in New Jersey, was named to Inc. magazine's list of America's fastest-growing private companies.
              
Symbionce specializes in residential mortgage brokerage, compliance and internal audit services. With its 478% growth in sales over the past three years, Symbionce landed at No. 945 in the 2014 Inc. 500|5000 ranking ( The Daily Exchange Aug. 21).
 
"Besides being the only credit union service organization to be honored this year, we are the 26th highest-ranked company in New Jersey out of 166 honored this year," said managing member Ann South.
 
Symbionce was founded in 2009, and its revenue has grown to $3.2 million in 2013 from $565,991 in 2010.

Corelation expands in 5 years from friends, family feel

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SAN DIEGO (8/21/14)--Corelation is celebrating the fifth anniversary of its KeyStone core processing system--one that started out with a small meeting of its founders and now has 26 signed contracts.
 
"We've come a long way since our introductory 'Friends and Family' meeting five years ago," said Corelation President Theresa Benavidez, who co-founded the company with Chair John Landis and Chief Technology Officer Jeff Dent.
 
Thirteen credit unions currently are live on the KeyStone core platform, and Corelation's client credit unions range in asset size from $100 million to $3.8 billion.
 
"This team understands the credit union industry, and the pain points of being tied to a rigid, inflexible core system," said Ron Amstutz, executive vice president, $3.8 billion-asset Desert Schools FCU, Phoenix. "KeyStone was built with today's technology for easy integration and flexibility in an ever-changing market."

CSS' Silanis inks deal with Salesforce, Microsoft Dynamics

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NEW YORK (8/20/14)--Silanis announced Tuesday it has launched a new set of e-SignLive pre-integrated e-signature solutions developed for Salesforce and Microsoft Dynamics CRM (customer relationship management) software.

Integrating e-SignLive into these CRM systems allows business users to easily prepare, manage and send documents for an e-signature within their CRM environments, according to Silanis, a CUNA Strategic Services alliance provider.

The apps also enable sales and marketing teams to make business transactions faster while at the same time improve the customer experience.

"Organizations of all sizes are looking for competitive advantages in every aspect of their business," said Michael Laurie, Silanis vice president of product strategy and co-founder. "The contracting process is a great first interaction with e-signatures--it's where a business can see that e-signatures can help close the deal quickly while also creating a great customer experience."

Customers that use the new e-SignLive apps also will be able to:
  • Deliver and manage contracts and other documents in real-time;
     
  • Easily integrate e-signatures into their existing processes; and
     
  • Securely and legally sign and store documents.
Credit unions and other financial institutions that use e-SignLive for their customer-facing processes will have access to the same e-signature solution, but now with a tightly integrated CRM tool that can be used for signing non-disclosure agreements, statements of work, agreements and contracts, Silanis said.

Fiserv: Serve 4 mobile payment audiences

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BROOKFIELD, Wis. (8/19/14)--Credit unions and other financial institutions can dive into the mobile payments world right now by offering members the four most-frequently used mobile payment services, according to a white paper from Fiserv, a Wisconsin-based financial technology solutions firm.

By building a mobile-payments strategy that focuses on "The Four Pillars of Mobile Payments," the paper's namesake, financial institutions can position themselves to attract, retain and strengthen relationships with current and prospective members and consumers who already use the mobile channel, including Gen Yers, the paper argues.

The pillars, or popular services are:
  • Paying Self: Mobile deposit and funds transfer capabilities;
     
  • Paying Other People: Person-to-person payments to individuals and groups;
     
  • Paying Billers: Payments to a biller either through a financial institution or biller; and
     
  • Paying Merchants/Retailers: Purchases via mobile proximity payments, cloud or online with apps and mobile websites.
"Due to their trusted relationship with consumers, financial institutions have a distinct advantage over non-bank competitors as the mobile banking and mobile payments user experiences converge," said Ginger Schmeltzer, Fiserv senior vice president of emerging payments.

"Banks and credit unions that offer mobile deposits and transfers, and that facilitate mobile payments to billers and individuals, will position themselves successfully as the provider of choice for mobile retail payments," Schmeltzer added.

The paper also argues that credit unions and others should invest in the mobile payments industry now, so that it can capitalize on advancements in technology in the future, especially when point-of-sale mobile payments mature.

To download the paper, use the link.