Finger Lakes Federal Credit Union Moves to Fiserv for Digital Banking and Payments
255 Fiserv Dr.
Brookfield, WI, 53045
Press release date: March 12, 2014
• More robust digital banking and payments capabilities, including additional mobile banking options, position the credit union to grow
• Personal financial management tools with 'family view' capabilities serve as a differentiator in a competitive market
• Members now have access to an improved bill payment experience, as well as the Popmoney person-to-person payment service
Brookfield, Wis. — Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Finger Lakes Federal Credit Union (Finger Lakes FCU), a community credit union with 15,000 members and $98 million in assets headquartered in Geneva, N.Y., has enhanced its digital banking and payment capabilities through the addition of multiple solutions from Fiserv. These include Corillian Online® and Mobiliti™ for online and mobile banking, AllData® PFM for personal financial management, and CheckFree® RXP® and Popmoney® for bill payment and person-to-person (P2P) payments. Finger Lakes FCU, which is seeing increased use of its electronic channels, is using the new technology to position the credit union to grow in a competitive market.
"Fiserv has demonstrated a commitment to continued innovation that will enable us to offer our members the digital banking and payment services they want, now and in the future," said Bob McFadden, Executive Vice President, Finger Lakes Federal Credit Union. "Our new services provide members with more control over their finances and the ability to conduct transactions using the channel that best suits their needs. For us, this is an investment in building and retaining relationships."
Finger Lakes FCU, a long-term Fiserv client, chose the digital banking and payments services from Fiserv based, in part, on their ability to integrate not only with the credit union's Spectrum® account processing platform from Fiserv, but also with other third-party technologies. Credit union executives were also impressed with the robust and clearly defined roadmaps for the solutions, including Corillian Online, Mobiliti and CheckFree RXP.
Finger Lakes FCU went live on the new services following a conversion that was completed in about six months from signing to implementation. Finger Lakes FCU utilized Fiserv resources and training materials to familiarize the credit union staff with the new capabilities. Staff was then able to play a key role in educating members about the enhancements. Due to this preparation the transition for members was a smooth one.
By offering both Corillian Online and Mobiliti, Finger Lakes FCU delivers a convenient, consistent experience across the online and mobile channels. Finger Lakes FCU views the personal financial management tools they offer via AllData PFM as a key differentiator in a competitive market. The credit union is among the first to offer the 'family view' feature, enabling members to sign on once to view their family's entire relationship across multiple accounts.
Members also have access to new digital payment features that improve their control over their money, including the ability to receive electronic bills (e-bills) delivered directly to their online banking account and the ability to make person-to-person payments via Popmoney. The credit union plans to further expand these money movement capabilities with the addition of mobile remote deposit capture, which enables members to securely deposit a check by taking a picture of it with their smartphone camera.
"Finger Lakes Federal Credit Union's decision to offer enhanced digital banking and payments capabilities demonstrates their commitment to serving their members," said Erich Litch, division president, Digital Channels, Fiserv. "With these new technologies, the credit union is poised to grow its membership and enrich relationships with existing members."
About Finger Lakes Federal Credit Union
Finger Lakes Federal Credit Union is a $98 million, community-based credit union with three branches serving Ontario, Seneca Yates Counties. Finger Lakes FCU has a long-standing tradition of exemplary service dating back to 1967. As its mission, Finger Lakes FCU helps its members achieve their financial goals by providing convenient, high-value financial products, delivered with exceptional personal service. Finger Lakes FCU offers a full suite of personal banking products and services. For a complete listing of products and services, including more information on the new banking and bill pay offerings, visit https://www.flfcu.org.
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry, 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.
255 Fiserv Dr.
Brookfield, WI 53045
Director, Public Relations