United Nations Federal Credit Union (UNFCU), based in New York, has chosen Fiserv’s DNA core account processing platform to replace Temenos’ T24.
The $4.3 billion asset financial institution had been using the T24 core banking system since 2004, IBS Intelligence understands (or at least it signed a contract back in 2004 to implement T24).
UNFCU will also add DNAcreator to create and market customised DNAapps (the DNA appstore was introduced a few years back and has proved to be popular).
It will also deploy Fiserv’s Activity Manager for business process management, tMagic for automated teller capture, Marketing Analytics for business intelligence (BI) and marketing automation, Verifast for automated member authentication, and tools for deposit management and digital document processing.
On the treasury and capital markets side, UNFCU has been a long-standing user of Sungard’s Ambit Treasury Management/Sierra solution.
William Predmore, president and CEO, UNFCU, says the software revamp will allow it to ‘deliver even more personalised service across the globe’.
UNFCU was established in 1947 at the New York headquarters of the United Nations (UN). It has other US locations in Washington, DC, and Virginia, and international locations in Geneva, Vienna, Nairobi and Rome.
It serves more than 115,000 members in over 200 nations and territories. The credit union oversees social responsibility initiatives through the UNFCU Foundation, the UNFCU Global Sustainability Program and an array of global sponsorships. Membership is available to those affiliated with the UN and its global agencies, funds and programmes, and members of the United Nations Association of the United States of America (UNA-USA).
System success
DNA (formerly the flagship system of Open Solutions) has been doing well for Fiserv in the US.
While Utah Community Credit Union (UCCU) chose to replace its legacy Datasafe core system with DNA in late 2015. UCCU also selected Fiserv’s tMagic, Nautilus and WireXchange systems.
Telhio Credit Union, a US community bank based in Columbus, Ohio, chose DNA to replace its legacy system, Ultradata, supplied by D+H Corporation.
Georgia’s Own Credit Union picked DNA, part of a long-running partnership between the two companies that stretches back two decades.
North of the border, Canada has also proved to be a successful hunting ground.
Recently, the vendor won three new credit unions over to its side in British Columbia, Canada, with each choosing the DNA platform. All three are moving from the sunsetted Acumen system.
Another Canadian credit union, Williams Lake and District CU, has also selected DNA to replace Acumen.