Velocity Credit Union taps Fiserv for DNA core processing system
Austin, Texas-based Velocity Credit Union has selected Fiserv as its DNA core processing platform, as well as a number of integrated solutions including general ledger, item processing and enterprise payments.
The Credit Union chose Wisconsin-based Fiserv to improve its loan servicing capabilities for business and real estate, as well as “facilitate the integration of third-party solutions”. Founded in 1947 as Austin Municipal Federal Credit Union, Velocity changed to its current moniker in 2003 and holds assets of around $840 million.
Velocity holds assets of around $840 million
“To remain competitive, we must offer the best possible digital services to business accounts and individual members,” says Debbie Mitchell, president and CEO, Velocity Credit Union.
“Faster integration of the latest market innovations, which is possible with an open architecture platform like DNA, means we can quickly deliver the latest services to members. This helps us stand out and shows the business community and our members that we are invested in them.”
Vincent Brennan, president of credit union solutions at Fiserv, adds: “Growth oriented credit unions are increasingly focused on improving offerings for small businesses and entrepreneurial members, in no small part because these areas drive growth and retention across the member base.
“We are looking forward to working with Velocity as it creates value for its members and community with the premier retail and commercial functionality of DNA.”
Texas has been a happy hunting ground for Fiserv. It has signed three other institutions in the Lone Star State in recent years including Texas Dow Employees Credit Union in 2016, as well as Amplify Credit Union, and Members Financial Credit Union in 2017.
