BROOKFIELD, Wis.—Fiserv said it continues to enhance its core banking platforms, reporting that more than 500 credit unions are now using its cloud-based Portico solution.
Following recent updates, Portico now operates in a cloud environment within Microsoft Azure, the company said.
“We are focused on powering credit unions with technology that allows them to operate more efficiently and respond quickly to their members’ changing needs,” Doug Donofrio, senior vice president and head of Credit Union Solutions at Fiserv, said in a statement. “With the migration of Portico to the cloud, clients will enjoy greater flexibility, with the ability to enhance the experience of both staff and members, and will be able to access additional capabilities via both Fiserv and third party integrations.”
According to Fiserv, a cloud-based deployment model helps financial institutions “deliver maximum uptime, enabling the continual delivery of a consistently excellent client experience for credit unions and their members. Benefits include improved monitoring tools, architecture enhancements for speed and efficiency, tightly monitored controls, and compartmentalized disaster recovery environments, reducing complexity and potential points of failure.”
Third Party Migrations
The company reported that recent third-party integrations into Portico include MessagePay, a solution that allows credit union members to make self-service ACH and debit card payments on their outstanding loans, and Eltropy, a digital conversations platform that the company said allows two-way texting capabilities between members and their credit unions, with texts generated directly from the Portico platform.
Among the credit unions that are now using both solutions, according to Fiserv, is Honolulu Fire Department FCU, which is now offering a real-time solution for members to make loan payments and see the results instantly within their digital banking applications.
“We pride ourselves on offering unique solutions to our fire department and firefighter membership, equipping them to manage their finances in the ways that are most convenient for them, at any time of the day or night,” HFDFCU CEO Guy Usui said in a statement. “With Portico at the heart of our credit union, we have the flexibility to quickly respond to our members’ changing needs.”
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