Brookfield, Wis., December 17, 2007 - XP Systems, a business unit of Fiserv, Inc. (NASDAQ: FISV), announced that Digital Federal Credit Union (DCU) of Marlborough, Mass. has successfully converted to the XP2 in-house system in a transition that brought at least seven major new systems live in tandem with a 26-hour core system conversion. The technology overhaul at DCU spanned all of the $3.9 billion credit union's operations and remote delivery services, centering on XP Systems' core processing solution and integrating an array of Fiserv and other technology solutions.
Due to the success of XP Systems' conversion process, DCU opened its doors to members one day earlier than planned, including its headquarters, operations center and all 18 branch locations. Electronic delivery services including new platforms for ATMs, audio response, Internet banking and plastic cards came live on the conversion weekend along with the credit union's member, teller, lending and back-office systems. In addition, DCU's more than 800 employees were trained and ready for the move to new applications and processes. The efficient, sweeping technology change was the result of extensive preparation by staff at XP Systems and DCU.
"We can say without reservation that the conversion was a resounding success," said Carlo Cestra, DCU's president and CEO. "I know from experience that all conversions are challenging. In fact, this is one of the most massive projects DCU has ever undertaken. Our extensive preparations have touched every area of the organization. Thanks to the hard work, attention to detail, patience and tenacity of the staff of DCU and XP Systems, the results of our conversion are as great as a conversion can be. We look forward to working with XP Systems on a steady stream of innovations that will benefit our members and staff over the coming years."
The core conversion finished Sunday, with over 100,000 new transactions already posted to the system by that afternoon. Members experienced little to no downtime from the conversion; the DCU call center remained open, internet banking and all electronic services were operational. Internet, plastic card, audio response and ATM transactions that took place during the conversion timeframe were stored and posted to member accounts by Sunday night. By the Monday following the conversion, DCU was proceeding with business as usual, processing 20,857,021 financial and non-financial transactions in 48 hours. Teller and system totals were in balance and performance levels were high.
Kris VanBeek, who spearheaded the conversion as DCU's vice president of information technology, said, "It felt good to keep the call center open over the weekend, it felt great to keep internet banking (and all electronic services) going all weekend, but the best was opening the doors a day early. Conversions don't get any better than this. Most of our folks returned to their regular schedule a day after going live. The front-line staff love using the XP2 system, we are hearing a lot of compliments.
"Bringing DCU into the XP Systems family benefits our entire credit union client base," said John Edwards,president of XP Systems. "DCU's drive to provide superior financial services has made it one of the nation's fastest-growing credit unions, and XP Systems' clients have already seen results of our collaboration in areas such as a new member loyalty program built-in to the core system. We have an exciting future with DCU and our relationship will significantly enhance the XP2 system."
DCU will leverage its new Fiserv XP Systems-based technology platform at the core and will soon introduce expanded services to members, including plans for taking check deposits submitted from members' home scanners, Health Savings Accounts, online banking with special cash management features.
DCU (Digital Federal Credit Union) is a full-service, not-for-profit financial institution cooperatively owned by and operated for its members. DCU was chartered in October of 1979. Since then, DCU has been chosen as the credit union for employees and members of more than 700 companies and organizations along with their families. DCU has $3.9 billion in assets and serves more than 330,000 members in all 50 states. DCU has full-service branch offices in Massachusetts, New Hampshire, Georgia and Colorado. For more information about DCU, please visit www.dcu.org.
About XP Systems
XP Systems, a business unit of Fiserv, Inc., provides information management solutions to credit unions. Headquartered in Moorpark, Calif., XP Systems serves 300 credit unions nationwide. The company's XP2 product is a comprehensive system of integrated software, hardware, and services that allows credit unions to manage their data processing in-house. XP2 operates in a Web-enabled Microsoft® Windows(TM) environment with an open,relational database and the IBM pSeries as its main server. For more information about XP Systems, visit www.xpsystems.com.
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company serves more than 21,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic commerce services. Fiserv and CheckFree had more than $4.5 billion in combined pro forma total revenue for 2006. For more information, please visit www.fiserv.com.
Contact Name: Steve Jost
Contact Phone: 866-505-9100 x709