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Fiserv Sees Surge in Credit Union Sales for Check Imaging


Brookfield, Wis. - Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that it has signed more than 30 new credit union clients for its Source Capture Solutions® within the last ten months to provide them anywhere, anytime check image capture.

"We attribute this trend to the widespread adoption of imaging, coupled with the ongoing changes in the corporate credit union environment," said Gary Brand, director, Source Capture Solutions, Fiserv. "Fiserv is seen as a safer and more stable alternative because of its leadership in item processing and payments. We have 180,000 seats of Source Capture deployed across Fiserv. Plus, our common technology platform for all capture solutions - branch, merchant, teller, consumer, ATM and mobile - sets us apart from other remote deposit capture vendors."

A recent new client, Austin, Texas-based Velocity Credit Union, has implemented Branch Source Capture from Fiserv to help reduce costs and increase member satisfaction. Velocity Credit Union with assets of $568 million, is using Branch Source Capture(TM) from Fiserv to truncate deposits at the branch, electronically correct and balance deposits, reconcile to the teller system and present data and images to item processing systems to clear, settle and post to core seamlessly.

"Branch Source Capture from Fiserv allows us to offer a later cut-off time for same-day posting of deposits, which our members will appreciate," said Debbie Mitchell, Chief Executive Officer, Velocity Credit Union. "It also promises to reduce our check transportation costs and lower our per-item processing costs."

Source Capture Solutions is a unique set of products from Fiserv designed to enhance the reliability, versatility and scalability of image capture and check processing with a common web based platform. This solution set includes branch, merchant, teller, ATM and the increasingly popular consumer and mobile capture all on a common web platform that enable remote deposit capture.

Additional Resources:

  • Velocity Credit Union - https://www.velocitycu.com/

  • Branch Source Capture - http://sco.fiserv.com/tellerCapture.aspx

  • Source Capture Solutions - http://sco.fiserv.com/

    About Velocity Credit Union

    Chartered in 1947, Velocity Credit Union is a local banking alternative open to residents of the Greater Austin area. The credit union has assets of $541million and serves more than 70,000 members.

    About Fiserv

    Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry. Fiserv is driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For six of the past eight years, Fiserv ranked No. 1 on the FinTech 100, an annual international listing of the top technology providers to the financial services industry. For more information, visit www.fiserv.com.

    Additional Contact:

    Wade Coleman

    Director, Public Relations

    Fiserv, Inc.

    678-375-1210

    wade.coleman@fiserv.com

    Media Relations:

    Julie Nixon

    Senior PR Manager

    Fiserv, Inc.

    678-375-3744

    julie.nixon@fiserv.com

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