Shared Branching to be Available Through Fiserv

ATLANTA – Credit unions all over the country that already have a relationship with Fiserv EFT in ATMs or other services will now have the opportunity to participate in shared branching through the processing firm. That’s because Credit Union Service Centers has certified Fiserv EFT as a third party processor for its Next Generation Switch. CUSC is the credit union shared branching network which works primarily through state leagues and league shared branching networks. The NGN, designed by CUSC specifically for credit unions, is a state-of-the-art technology platform providing robust custom functionality, fraud prevention and connectivity capabilities, according to CUSC. The certification connects the transaction processing capability of Fiserv EFT with CUSC’s more than 1,400 shared branch network service center and outlet locations throughout the United States. “Our relationship with CUSC is a tremendous benefit to credit unions across the country,” said Tony Catalfano, president and chief operating officer of Fiserv EFT. “Our connection to the NGN ensures our credit union clients can take advantage of industry-leading processing capabilities and shared branching products, while realizing the tangible benefits of enhanced service and nationwide service reach.” Fiserv and CUSC already have a relationship through a co-switch agreement which allows Fiserv to provide shared branching services to 250 credit union clients and process approximately 1.2 million shared branching transactions per month, according to the processor. “What this essentially means is that all the credit unions that already conduct shared branching transactions with Fiserv will be able to use the Next Generation Switch and that Fiserv will be able to offer the switch to other credit unions around the country,” explained Craig Beach, vice president with CUSC, “including those which may not have been part of shared branching previously.” CUSC is excited about its Next Generation Switch because of the additional data it can carry as well as the additional transactions it makes possible, Beach said. In the past the shared branching network has cited the ability of an acquiring credit union in a shared branching transaction to access information such as the date of birth of the member making the transaction, date the account opened, any expanded joint owner fields, and up to 30-days of transaction history using the NGN switch. So far, Fiserv EFT is the only third processor network certified for the NGN switch, CUSC said, and although no other processors are currently in certification the network is open to processing others. -