Fiserv and COCC Meet Tomorrow’s Digital Banking Expectations
Fiserv (NYSE: FI) has expanded its partnership with COCC, a client-owned fintech serving over 200 community banks and credit unions, to enhance digital banking solutions through Experience Digital (XD). The collaboration aims to transform financial services by delivering seamless, connected digital experiences powered by open banking APIs and data-rich tools.
The platform will extend to the cloud using microservices architecture and include a developer studio for custom experiences through an app market. This addresses current market challenges, as revealed by a Javelin Strategy & Research survey showing 30% of dissatisfied mobile banking users struggle with app features, and 28% find it difficult to navigate mobile banking.
Fiserv (NYSE: FI) ha ampliato la sua partnership con COCC, una fintech di proprietà dei clienti che serve oltre 200 banche comunitarie e cooperative di credito, per migliorare le soluzioni di banking digitale attraverso Experience Digital (XD). La collaborazione mira a trasformare i servizi finanziari offrendo esperienze digitali connesse e senza soluzione di continuità, alimentate da API di open banking e strumenti ricchi di dati.
La piattaforma si estenderà al cloud utilizzando un'architettura a microservizi e includerà uno studio per sviluppatori per esperienze personalizzate tramite un mercato delle app. Questo affronta le attuali sfide di mercato, come rivelato da un sondaggio di Javelin Strategy & Research che mostra come il 30% degli utenti insoddisfatti del mobile banking abbia difficoltà con le funzionalità delle app e il 28% trovi difficile navigare nel mobile banking.
Fiserv (NYSE: FI) ha ampliado su asociación con COCC, una fintech de propiedad de los clientes que atiende a más de 200 bancos comunitarios y cooperativas de crédito, para mejorar las soluciones de banca digital a través de Experience Digital (XD). La colaboración tiene como objetivo transformar los servicios financieros mediante la entrega de experiencias digitales conectadas y sin problemas, impulsadas por APIs de banca abierta y herramientas ricas en datos.
La plataforma se extenderá a la nube utilizando una arquitectura de microservicios e incluirá un estudio de desarrolladores para experiencias personalizadas a través de un mercado de aplicaciones. Esto aborda los desafíos actuales del mercado, como revela una encuesta de Javelin Strategy & Research que muestra que el 30% de los usuarios insatisfechos de la banca móvil tienen dificultades con las funciones de las aplicaciones y el 28% encuentra difícil navegar por la banca móvil.
Fiserv (NYSE: FI)는 200개 이상의 지역 은행과 신용 조합에 서비스를 제공하는 고객 소유 핀테크인 COCC와의 파트너십을 확장하여 Experience Digital (XD)을 통해 디지털 뱅킹 솔루션을 강화했습니다. 협력의 목적은 오픈 뱅킹 API와 데이터가 풍부한 도구를 기반으로 한 매끄럽고 연결된 디지털 경험을 제공하여 금융 서비스를 혁신하는 것입니다.
플랫폼은 마이크로서비스 아키텍처를 사용하여 클라우드로 확장되며, 앱 마켓을 통한 맞춤형 경험을 위한 개발자 스튜디오를 포함합니다. 이는 Javelin Strategy & Research의 설문조사에서 드러난 현재 시장의 도전 과제를 해결하며, 설문조사에 따르면 불만족스러운 모바일 뱅킹 사용자 중 30%는 앱 기능에 어려움을 겪고 있으며, 28%는 모바일 뱅킹 탐색이 어렵다고 느낍니다.
Fiserv (NYSE: FI) a élargi son partenariat avec COCC, une fintech appartenant aux clients qui sert plus de 200 banques communautaires et coopératives de crédit, pour améliorer les solutions de banque numérique via Experience Digital (XD). Cette collaboration vise à transformer les services financiers en offrant des expériences numériques connectées et sans couture, alimentées par des API de banque ouverte et des outils riches en données.
La plateforme s'étendra au cloud en utilisant une architecture de microservices et inclura un studio de développement pour des expériences personnalisées via un marché d'applications. Cela aborde les défis actuels du marché, comme le révèle une enquête de Javelin Strategy & Research montrant que 30 % des utilisateurs insatisfaits de la banque mobile ont des difficultés avec les fonctionnalités des applications, et 28 % trouvent difficile de naviguer dans la banque mobile.
Fiserv (NYSE: FI) hat seine Partnerschaft mit COCC erweitert, einem kundenorientierten Fintech, das über 200 Gemeinschaftsbanken und Kreditgenossenschaften bedient, um digitale Banklösungen durch Experience Digital (XD) zu verbessern. Die Zusammenarbeit zielt darauf ab, Finanzdienstleistungen zu transformieren, indem nahtlose und verbundene digitale Erlebnisse bereitgestellt werden, die durch offene Bank-APIs und datengestützte Tools unterstützt werden.
Die Plattform wird in die Cloud erweitert und nutzt eine Microservices-Architektur und umfasst ein Entwicklerstudio für maßgeschneiderte Erlebnisse über einen App-Marktplatz. Dies spricht die aktuellen Herausforderungen des Marktes an, wie eine Umfrage von Javelin Strategy & Research zeigt, die offenbart, dass 30 % der unzufriedenen Nutzer von Mobile Banking Schwierigkeiten mit den App-Funktionen haben und 28 % es als schwierig empfinden, durch das Mobile Banking zu navigieren.
- Partnership expansion with COCC extends market reach to 200+ community banks and credit unions
- Cloud migration and microservices architecture implementation enables faster market adaptation
- Development of new app market and developer studio for custom solutions
- None.
Insights
The expanded Fiserv-COCC partnership represents a significant advancement in digital banking infrastructure, focusing on cloud-native solutions and open banking APIs. The implementation of Experience Digital (XD) with microservices architecture indicates a strategic shift towards more agile, scalable banking solutions. The developer studio and app marketplace approach mirrors successful tech ecosystem models, potentially creating new revenue streams and innovation opportunities.
The partnership addresses critical market pain points revealed in the Javelin survey, where
This partnership expansion has strategic importance in the competitive digital banking landscape. With COCC serving over 200 community banks and credit unions, this collaboration gives Fiserv significant leverage in the community banking sector. The focus on cloud infrastructure and API-driven architecture positions both companies to capture growing demand for modern banking solutions.
The Javelin survey data highlighting user dissatisfaction with current mobile banking offerings suggests substantial market opportunity. By addressing these pain points, Fiserv and COCC could strengthen their market position and potentially increase their client base. The emphasis on personalization and fintech integration indicates a forward-thinking approach that could help smaller financial institutions compete more effectively with larger banks.
Extended collaboration enables seamlessly connected ecosystem uniting the very best in digital fintech experiences for consumers and small businesses
Together, Fiserv and COCC are setting a new standard of excellence in the digital banking landscape. XD delivers a seamless, connected digital experience powered by open banking APIs and enhanced by a suite of data-rich, intelligent tools that drive highly personalized financial experiences. Under the enhanced partnership, the platform will extend to the cloud in a microservices architecture, enabling swift adaptability to evolving market needs. Additionally, with the goal of unlocking easy access to fintech integrations, a developer studio will facilitate the creation of custom experiences made available in an app market.
Despite consumers’ growing demand for digital experiences that delight them, a recent survey by Javelin Strategy & Research of more than 10,000
“It’s imperative for financial institutions to continue investing in digital banking and offer their clients the best possible digital banking experience,” said Jacob Jegher, President at Javelin. “Digital banking is a critical driver of customer satisfaction and banks of all sizes need to differentiate in a crowded and competitive playing field.”
“The bar is set by consumers and businesses’ best digital experience — likely on a mobile phone. This challenges financial institutions to accelerate digital innovation, unlocking the opportunities digital banking can provide,” said Whitney Russell, President of Digital and Financial Solutions at Fiserv. “Our partners at COCC maintain a commitment to enabling success through enhanced digital banking, and together we look forward to providing their clients access to a wide range of experiences that meet tomorrow’s digital expectations.”
“We’re thrilled to further strengthen our partnership and co-development arrangement with Fiserv as COCC joins them on the journey to deliver the latest cutting-edge, cloud-native digital banking platform,” said Matt L’Heureux, Senior Vice President and Chief Innovation Officer at COCC. “Their innovative approach aligns perfectly with our vision to continue to enable our clients to remain competitive with a tech-forward, seamless, secure and future-ready experience that attracts and retains consumers and businesses alike.”
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 has been recognized as one of Fortune® World’s Most Admired Companies™ for 9 of the last 10 years. Visit fiserv.com and follow on social media for more information and the latest company news.
About COCC
As an industry-leading fintech provider, COCC delivers innovative, comprehensive technology solutions and strategic partnerships with an unparalleled focus on service. Offering a robust, feature-rich suite of modern, standards-based core and digital banking solutions, COCC’s cutting-edge systems are designed with intuitive user interfaces and are fortified by advanced APIs which seamlessly facilitate leading fintech integrations. Consistently ready to adopt and embrace emerging technologies, COCC remains agile and forward-thinking, meeting the demands of a rapidly evolving financial landscape where live real-time functionality matters. COCC is forever dedicated to assisting community banks and credit unions with remaining strong and competitive by providing the technology, support, and expertise needed to succeed. To learn more, visit www.cocc.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20241211054527/en/
Media Relations:
Mark Jelfs
Senior Manager, Communications
Fiserv, Inc.
+1.262.737.8244
mark.jelfs@fiserv.com
Additional Contact:
Chase Wallace
Director, Communications
Fiserv, Inc.
+1.470.481.2555
Chase.wallace@fiserv.com
Source: Fiserv, Inc.
FAQ
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