First Community Credit Union Selects the Fiserv award-winning DNA Platform to Stay on Cutting Edge of Banking Technology
Fiserv (NYSE: FI) announced that First Community Credit Union (FCCU) has selected its award-winning DNA® core processing platform to power future growth. FCCU, a Missouri-based institution with $4.5bn in assets and 42 branches, chose DNA for its modern, member-centric capabilities, integration features, and commercial functionalities.
The DNA platform recently received the 2024 xCelent Advanced Technology Award from Celent for its best-in-class technology architecture. FCCU, serving over 400,000 members, operates nearly half its branches within a national retailer's stores. The credit union, celebrating its 90th anniversary in December 2024, has been a Fiserv client for more than 30 years.
Fiserv (NYSE: FI) ha annunciato che la First Community Credit Union (FCCU) ha scelto la sua premiata piattaforma di elaborazione core DNA® per alimentare la crescita futura. FCCU, un'istituzione con sede nel Missouri con $4,5 miliardi di attivi e 42 filiali, ha scelto DNA per le sue capacità moderne e incentrate sui membri, le funzionalità di integrazione e le funzionalità commerciali.
La piattaforma DNA ha recentemente ricevuto il 2024 xCelent Advanced Technology Award da Celent per la sua architettura tecnologica di livello superiore. FCCU, che serve oltre 400.000 membri, gestisce quasi metà delle sue filiali all'interno dei negozi di un rivenditore nazionale. La credit union, che festeggerà il suo 90° anniversario a dicembre 2024, è cliente di Fiserv da oltre 30 anni.
Fiserv (NYSE: FI) anunció que la First Community Credit Union (FCCU) ha seleccionado su galardonada plataforma de procesamiento central DNA® para impulsar el crecimiento futuro. FCCU, una institución con sede en Missouri con $4.5 mil millones en activos y 42 sucursales, eligió DNA por sus capacidades modernas centradas en el miembro, características de integración y funcionalidades comerciales.
La plataforma DNA recibió recientemente el 2024 xCelent Advanced Technology Award de Celent por su arquitectura tecnológica de primer nivel. FCCU, que atiende a más de 400,000 miembros, opera casi la mitad de sus sucursales dentro de las tiendas de un minorista nacional. La cooperativa de crédito, que celebrará su 90° aniversario en diciembre de 2024, ha sido cliente de Fiserv durante más de 30 años.
Fiserv (NYSE: FI)는 First Community Credit Union (FCCU)가 향후 성장을 위해 수상 경력이 있는 DNA® 핵심 처리 플랫폼을 선택했다고 발표했습니다. 미주리주에 본사를 둔 FCCU는 45억 달러의 자산과 42개의 지점을 보유하고 있으며, 현대적이고 회원 중심의 기능, 통합 기능 및 상업적 기능 때문에 DNA를 선택했습니다.
DNA 플랫폼은 최근 Celent로부터 최고의 기술 아키텍처에 대해 2024 xCelent Advanced Technology Award를 수상했습니다. 40만 명 이상의 회원에게 서비스를 제공하는 FCCU는 거의 절반의 지점을 전국 소매업체의 매장 내에서 운영하고 있습니다. 2024년 12월 90주년을 기념하는 이 신용 조합은 30년 이상 Fiserv의 고객입니다.
Fiserv (NYSE: FI) a annoncé que la First Community Credit Union (FCCU) a choisi sa plateforme de traitement central DNA® primée pour soutenir sa croissance future. La FCCU, une institution basée dans le Missouri avec 4,5 milliards de dollars d'actifs et 42 agences, a choisi DNA pour ses capacités modernes centrées sur les membres, ses fonctionnalités d'intégration et ses fonctionnalités commerciales.
La plateforme DNA a récemment reçu le 2024 xCelent Advanced Technology Award de Celent pour son architecture technologique de premier ordre. La FCCU, qui sert plus de 400 000 membres, exploite près de la moitié de ses agences au sein des magasins d'un détaillant national. La coopérative de crédit, qui célébrera son 90e anniversaire en décembre 2024, est cliente de Fiserv depuis plus de 30 ans.
Fiserv (NYSE: FI) gab bekannt, dass die First Community Credit Union (FCCU) ihre preisgekrönte DNA® Kernverarbeitungsplattform ausgewählt hat, um zukünftiges Wachstum zu fördern. Die in Missouri ansässige FCCU mit 4,5 Milliarden Dollar an Vermögenswerten und 42 Filialen wählte DNA aufgrund seiner modernen, mitgliederzentrierten Funktionen, Integrationsmerkmale und kommerziellen Funktionalitäten.
Die DNA-Plattform erhielt kürzlich den 2024 xCelent Advanced Technology Award von Celent für ihre erstklassige Technologiearchitektur. FCCU, die über 400.000 Mitglieder betreut, betreibt fast die Hälfte ihrer Filialen in den Geschäften eines nationalen Einzelhändlers. Die Kreditgenossenschaft, die im Dezember 2024 ihr 90-jähriges Bestehen feiert, ist seit über 30 Jahren Kunde von Fiserv.
- Award-winning DNA platform recognized for technical excellence
- Secured major client with $4.5bn in assets
- Platform enables enhanced integration and commercial features
- Long-term client relationship spanning 30+ years
- None.
Insights
This contract renewal with First Community Credit Union reinforces Fiserv's strong position in the core processing market, a critical segment that typically accounts for 15-20% of the company's revenue and provides highly stable, long-term recurring cash flows. Core processing contracts generally span 7-10 years with high switching costs, creating significant revenue visibility for Fiserv.
The DNA platform's recognition with the xCelent Advanced Technology Award strengthens Fiserv's competitive positioning against primary rivals FIS and Jack Henry in the ongoing battle for financial institution technology infrastructure. This award particularly highlights DNA's technological advantages at a time when approximately 25-30% of U.S. financial institutions are evaluating core system modernization.
While a single mid-sized credit union contract (
Fiserv's ongoing investments in DNA's cloud capabilities, commercial features, and open architecture position the company to capitalize on the accelerating trend of financial institutions migrating from legacy systems to modern, API-friendly platforms. These investments may pressure margins short-term but strengthen Fiserv's ability to cross-sell its payments and digital banking solutions, potentially increasing revenue per client relationship.
Market-leading core account processing platform, DNA, recognized with xCelent Advanced Technology Award for best-in-class technology architecture
FCCU, based in
“We are a high-touch credit union with a number of our branches uniquely located in the stores of a large national retailer. This is a significant differentiator for us among our members, but we take immense pride in blending in-person service with the digital experience,” said Glenn Barks, President and CEO, FCCU. “We picked DNA because it is a technologically sophisticated solution that will prime our organization for the future and keep us on the cutting edge of banking technology.”
DNA leads the way in awards and client satisfaction
The recent enhancements to DNA were recognized by research and advisory firm Celent at the 2024 xCelent Awards for community-based financial institution core systems, earning an xCelent Advanced Technology Award for its best-in-class technology architecture, with a high breadth of functionality complemented by significant customer base and support capabilities. In addition, DNA was designated a Luminary for technical capability. Celent noted that the diversity of the client base on DNA by institution type, size and geographic market are indicators of its technological superiority.
“Fiserv continues to invest heavily in its modern real-time DNA core system, with its scalable architecture, open integration, deployment flexibility and configurability making it a top solution for banks and credit unions,” said Craig Focardi, principal analyst, Celent. “Recent enhancements for public cloud deployment, commercial loan servicing, and open ecosystem integration will continue to appeal to financial institutions seeking to replace their current core systems.”
“We are committed to listening and acting to ensure our banking clients receive the solutions and support that they need, and that we meet and exceed their evolving expectations,” said Dudley White, president, Core Account Processing Solutions, Fiserv. “As we make continual investments in our core systems, we look forward to extending our partnership with First Community Credit Union to help them differentiate and enhance their offerings.”
About First Community Credit Union
First Community Credit Union has been operating for over 90 years and serves nearly 410,000 members. First Community is among the top 100 credit unions in the nation. Its mission is to provide quality products and affordable financial services. It serves all persons living and working in the communities of
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.
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Media Relations:
Mark Jelfs
Senior Manager, Communications
Fiserv, Inc.
+1.414.218.4019
mark.jelfs@fiserv.com
Additional Contact:
Melissa Moritz
Vice President, External Communications
Fiserv, Inc.
+1.516.410.1188
melissa.moritz@fiserv.com
Source: Fiserv, Inc.
FAQ
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