operations under the new VisiFI brand in 2020. For credit unions with $250 million to $1 billion in assets, for example, Fiserv boasts 226 credit union clients versus Symitar’s 219.Īlong with mergers and liquidations, Fiserv lost clients when Italy's Dedagroup combined its U.S. It tends to lead the market in clients in each of the other asset bands. Meanwhile, Fiserv has 156 credit union clients with more than $1 billion in assets that’s up 14 from last year. Its clients include 177 credit unions with more than $1 billion that’s 18 more than the previous year. Symitar serves more of the movement’s largest credit unions. Īlthough the domination of these two stalwarts in the credit union core processing space is clear - Fiserv and Symitar have a combined 39.8% market share - their client bases do differ. Symitar remains in second place in market share, with 533 clients and a 10.4% share that’s up 64 basis points from one year ago.
Of the 139 credit unions lost in the past year, 33 - or 23.7% - were Fiserv clients. That’s down 1.4 percentage points from last year.
Annual membership growth was 3.9% as of June 30 as the number of members increased from 123.7 million to 128.5 million.įiserv Slips A Little But Still Dominates Market Shareįiserv remains the 800-pound gorilla in the core processing room, with 29.4% - 1,510 of 5,136 credit unions - using one of its family of 15 platforms. Loans, meanwhile, grew $56.8 billion (5.0%) from $1.1 trillion as of June 30, 2020, to more than $1.2 trillion as of June 30, 2021. But, fueled by pandemic-related relief measures, total shares at those cooperatives increased $226.5 billion (15.0%) from $1.5 trillion to more than $1.7 trillion during that same time. The total number of American credit unions decreased from 5,275 as of June 30, 2020, to 5,136 one year later. As of June 30, 2021, 29 core providers were competing for the business of a movement that is shrinking in numbers but not in impact. Micro Merchant's material customization tools allow for a variety of design templates for every marketing and sales activity that can be customized by the FI's marketing staff to meet the needs of a specific location.The core processing system is the brain for every credit union - it controls various systems and enables different departments to operate as one, member-serving unit. The solution allows FIs to develop and order printing of marketing materials in-house using a centralized Web portal-the new insertion order form gives FIs the ability to proof the ad and place an order. NORCROSS, Ga.-A new advertisement and insertion order form feature has been added to Dynamic Marketing Solutions' Micro Merchant solution. The check scanning technology provider will now be able to supply credit unions with information on scanner status and usage through remote access to diagnostic tools and image quality assurance.įor info: and Micro Merchant Solution Unveiled NORTHFIELD, Ill.-Digital Check has partnered with Weston, Fla.-based Esprida Corporation to give its check scanners remote management capabilities for financial institutions as well as partner service providers. Ten organizations in Canada have chosen to implement iSpectrum since January 2008 including three of the largest credit unions in the country.įor info: Digital Check Teams With Esprida In determining the direction to go when replacing their legacy system, 20 Conexus staffers looked at a number of platforms and recommended iSpectrum because of its web service technology, scalable open architecture, and seamless member experience capabilities. REGINA, Saskatchewan-Conexus CU here is implementing Fiserv Solutions of Canada's advanced iSpectrum core banking system, the $3.69 billion institution announced.
Fiserv ispectrum series#
The series 6100 features simultaneous 2-sided scanning at 200 dpi with options for 400 dpi as well as color, integrated E13B MICR with exceptional accuracy and USB connectivity. The check scanners will be combined with IBT's Remote Deposit Capture solution to create a new package for FI customers who wish to make deposits at any time from any location.
RIVERTON, Wy.-Pertech Resources here hassigned an agreement with Integrated Bank Technologies for the latter to distribute Pertech's 6100 check scanner products.
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