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Teachers Federal Credit Union Selects DNA and Host of Integrated Surround Solutions from Fiserv
|By Business Wire
|June 30, 2014 09:12 AM EDT
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that Teachers Federal Credit Union
(TFCU), based in Hauppauge, New York, has selected the DNA™
account processing platform and over 20 complementary Fiserv solutions
to accelerate growth. The $4.9 billion asset credit union will use the
integrated Fiserv solutions to drive efficiency and service for its
As one of the top 25 credit unions in the nation and a Bauer Financial
5-star rated institution, TFCU wanted an account processing platform
that could help improve operational efficiency while enhancing service
for its diverse and growing membership of over 237,000. After a thorough
review of the industry’s leading vendors, TFCU selected Fiserv.
“With Fiserv, we’ll be able to drive efficiency through a cohesive
solution set that is intuitively designed,” said Robert G. Allen,
president and CEO of TFCU and a 2014 Credit Union House Hall of Leaders
inductee. “At the center of it all, DNA will give us real-time access to
the data and tools we need to expand member relationships with targeted
products and services. We’ll be able to respond quickly to a changing
market with leading solutions from a single provider we can trust.”
TFCU selected DNA for its open architecture and member-centric design –
factors that will allow the credit union to easily integrate
complementary solutions while maintaining a 360-degree view of its
retail and business relationships. Developed using contemporary,
standards-based components, DNA provides TFCU with 24/7 real-time
processing, scalability and robust retail, mortgage and commercial
With DNA, TFCU will also have the ability to add new functionality with
integrated core extensions, called DNAapps™. TFCU can create its own
DNAapps using the DNAcreator™ development toolkit or download them from
the DNAappstore™ – the first collaborative online marketplace for custom
“For TFCU, upgrading its enterprise technology to be more flexible and
scalable is essential to the credit union’s growth strategy,” said Steve
Cameron, president, Open Solutions Division, Fiserv. “DNA and the
integrated solutions from Fiserv will scale with this progressive credit
union as it expands into western Long Island and enable it to improve
efficiency and service through new capabilities from Fiserv.”
In addition to DNA, TFCU will implement Velocity™ for loan origination,
Prologue™ for financial accounting, WireXchange® for wire
exchanges, AML Manager for anti-money laundering, Voice Response for
DNA, the CRM and Business Intelligence suite for DNA, and additional
solutions for item processing, card and statement production, and credit
and ATM/debit cards.
Fiserv is the U.S. market leader in account processing services, and
more than one-third of U.S. financial institutions rely on Fiserv for
account processing solutions and expertise. DNA has been recognized
by industry-leading analysts for its technology, user experience and
breadth of functionality, including two recent awards from CEB
TowerGroup for “Best-in-Class” product management and
About Teachers Federal Credit Union
Founded in 1952, TFCU is a not-for-profit, member-owned financial
institution that exists to serve its members. TFCU provides personal
financial services to more than 237,000 members and with over $4.9
billion in assets, they are one of the largest credit unions in the
country. TFCU has 27 branch locations throughout Long Island to provide
up-to-the-minute financial assistance and security. For more
information, visit www.teachersfcu.org/.
This year, Fiserv, Inc. (NASDAQ: FISV) celebrates 30 years of leadership
in financial services technology. As one of FORTUNE® magazine's
World's Most Admired Companies, Fiserv is helping clients worldwide
achieve best-in-class results by driving innovation in payments,
processing services, risk and compliance, customer and channel
management, and business insights and optimization. For more
information, visit www.fiserv.com.
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