News

Navy Army Federal Credit Union signs with Fiserv for DataSafe account processing

September 27, 2009

Fiserv Inc. has announced that Navy Army Federal Credit Union in Corpus Christi, Texas, has renewed its contract for account processing with Fiserv.

With more than 72,000 members and almost $865 million in assets, Navy Army is the 13th largest credit union in Texas.

According to a news release from Fiserv, the credit union has used the DataSafe system since 1992. The renewed Navy Army agreement includes new software, services and development from Fiserv, including solutions for online banking, bill payment, wire transfer, and fraud and risk.

First National Bank of South Carolina signs with Fiserv for Precision

Fiserv also announced that First National Bank of South Carolina, a community bank with more than 100 years of service in the Charleston area, has selected Fiserv's Precision bank platform to provide an enterprise-wide technology. The $162-million bank based in Holly Hill, S.C., chose Fiserv for its account-processing and value-added solutions.

After 24 years of processing in-house, First National Bank of South Carolina is now outsourcing processing on the Precision platform.

Ron Anderson, the bank's president and chief executive, says increasing regulatory pressures pushed the bank to move processing out-of-house:

The regulatory scrutiny and risk associated with in-house processing became overwhelming for us. Fiserv offered the best solution to meet our needs now and into the future.

The bank expects its fourth-quarter 2009 conversion to result in tighter enterprise-wide integration of its applications.

In addition to Precision, First National Bank of South Carolina is using Fiserv's Director, Business Process Manager and Internet Banking for Precision and CheckFree for bill payment.