The $1.4 billion Navigant Credit Union in Smithfield, R.I., plans to convert to the DNA core processing platform from Fiserv Inc., the company and credit union said Tuesday.
The 62,000-member Navigant currently runs on a Fiserv Spectrum account processing platform, according to the Technology Survey from Callahan & Associates, and cited the credit union's relationship with Fiserv and the ability to integrate other solutions and roll out new products and services in its decision.
"The flexible, open architecture and single database design of DNA will enable us to roll out new products quickly and easily, improving our efficiency and enhancing the member experience," Navigant President/CEO Gary Furtado said in the announcement.
"Navigant Credit Union joins a large community of DNA clients who are leveraging the platform's openness and flexibility to serve the needs of today's digitally connected consumer," said Steve Cameron, president of the Open Solutions Division at Fiserv in Brookfield, Wis.
The announcement was the first signing of a billion dollar credit union since Fiserv bought Open Solutions earlier this year.
Open Solutions platforms currently are in use at 64 credit unions of more than $250 million in assets and 142 of less than $250 million, according to Callahan.
The deal also calls for Navigant to use other solutions from Fiserv, including debit processing, the Accel payments network for ATMs and point of sale access, Velocity software for consumer, home equity and small business loan origination, WireXchange for wire transfer processing, Prologue for accounting, Nautilus for document imaging and solutions for item processing, voice response, customer relationship management and business intelligence, the company said.
The Callahan survey said Navigant already is using Open Solutions e-statement software and Fiserv debit signature and PIN processing, as well as FIS for bill pay and credit card processing and Intuit home banking.
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