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Fiserv launches new CU account-processing service

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BROOKFIELD, Wis. (10/8/09)--Fiserv has launched a new global account-processing solution, Acumen, which Fiserv said aims to change the way large credit unions do business by giving credit unions complete control over their technology strategy. Acumen provides a browser interface for front- and back-end office applications, and gives credit unions the capability to create and implement custom applications. It was designed for large credit unions “seeking to transform and differentiate their strategies and services through technology,” said Scott Butler, Fiserv president of credit union solutions. The solution was originally launched in Canada under the name iSpectrum, and offers multi-lingual and multi-currency capabilities. iSpectrum was changed to Acumen as the solution evolved into the U.S. market. “We’re taking what we’ve learned from our deployments in Canada and evolving the solution to suit the needs of the U.S. industry,” said Sara Brooks, senior vice president of strategy and offerings development for Fiserv’s credit union solutions. Alterna Savings and CU, Ontario, Canada, already has implemented the solution. Now that it is being offered in the U.S., Alterna has “access to even greater resources,” said John Lahey, CEO, Alterna Savings and CU. Fiserv, based in Brookfield, Wis., provides technology solutions to financial institutions including credit unions.

CO-OP to acquire CUNA Mutual LoanLink Center

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MADISON, Wis. (10/8/09)--CUNA Mutual Group announced Wednesday that CO-OP Financial Services will acquire CUNA Mutual’s The LoanLink Center. Under the agreement, effective Oct. 31, CUNA Mutual and CO-OP will work together to strengthen The LoanLink Center’s lending and member services product lines. The acquisition will give CO-OP another way to offer members continuous access to their credit union accounts and will help sustain and expand credit union call center support. The transition will be transparent to existing customers of The LoanLink Center, with no immediate changes planned for the business. CO-OP will assume operations and all employees for The LoanLink Center, which will continue to operate in Fort Worth, Texas. The companies will partner in the sales and remarketing process, and CO-OP will rely upon CUNA Mutual's loanliner.com and Lenders Development Program to cross-sell insurance on lending transactions. The purchase of The LoanLink Center by CO-OP extends the mutual use of the credit union owned Next Generation Network (NGN) conduit. Through an agreement in 2003, credit unions have leveraged existing connectivity to CO-OP’s NGN platform for lending and member service call center activities. CO-OP Financial Services offers ATM processing, check imaging services and mobile payments. It also has 28,000 surcharge-free ATMs and 3,700 shared branch locations.