News

Fiserv adds cross-selling capability to processing software

August 21, 2003

BROOKFIELD, Wis. -- Fiserv, Inc.'s (Nasdaq: FISV) newly acquired Credit Union Industry Group (CUIG) has added a new, integrated cross-selling capability for its CUBE and CUBEOL core-processing products.

Anne Stauch, CUIG director for the CUBE product, said in a news release that the new capability allows credit union employees to better understand members' needs so that they can selectively suggest appropriate new services. The system is integrated with the core processing application so that all member data is readily accessible and updated in real-time.

She said, "This latest cross-sell enhancement allows credit unions to shift to more of a sales culture instead of being solely transaction-based, creating a more member-centric environment."

According to the release, CUIG also renewed agreements with five longtime credit union clients: Seattle Metropolitan Credit Union, MIDFLORIDA Federal Credit Union, Tech Credit Union, Animas Credit Union and Colorado Springs Credit Union (CSCU).

In addition to the continued deployment and management of the CUBE and CUBEOL core processing products, the renewal agreements include related information technology services, including ATM and POS debit and credit card services, audio response services, Virtual Branch electronic banking, and Open Loan Interface, which enables clients to use any third-party loan origination system or Web-based application.

CUBEOL now has a separate database used for training new employees on the core processing application, according to the release.

Fiserv completed the acquisition of CUIG and its products from Electronic Data Systems Corp. (EDS) in July 2003. CUIG provides IT services -- including core data processing, Web- and PC-based electronic banking, debit cards and ATM services -- to more than 1,500 credit unions.