Fiserv fuels Siscoop’s Mexican banking scoop
Banking in Mexico can be “challenging”
Siscoop, a cooperative providing services to credit unions in Mexico, will enable 26 of its members to get their first taste of digital banking services using Fiserv technology.
The cooperative will use DigitalAccess, an end-to-end multi-tenant solution, for banking and payments.
According to Fiserv, Siscoop “valued the fact” that it has worked with a number of credit unions in “similar situations worldwide”.
“The ability to offer full-featured digital banking places us on par with the leading financial institutions in Mexico,” says Alfonso Garcia, commercial director, Caja Popular Mexicana (CPM). “We can now provide our members with access to their accounts anytime, anywhere, transforming the way our members bank and increasing our competitiveness.”
Siscoop member CPM is the largest credit union in Mexico and will be the first to deploy DigitalAccess.
Fiserv says via its solution, CPM can let its two million members bank through mobile and desktop browsers and native applications for Apple and Android devices, including smartphones and tablets.
In addition to accessing account information, CPM members will be able to sign up for SMS (text) and email alerts and receive in-app notifications, transfer funds between accounts, pay bills and make person-to-person (P2P) payments.
Fiserv adds that banking in Mexico can be “challenging”, requiring people to travel long distances to their bank or credit union to manage their personal finances. At the same time, it says many credit unions have seen younger generations seek services with banks that provide more digital options.
Founded in 2008, Siscoop specialises in the implementation and operation of electronic payment projects such as processing of debit cards and credit cards, ATMs and operations by internet.
