ST. PETERSBURG, Fla. — PSCU said it is making a multi-year investment of $100 million to further advance its solutions.
According to the company, the investment will go toward helping the company to further provide an end-to-end payments platform in an integrated environment for a fully customizable and seamless experience. The investment will be spread over the next three years.
“The focus will be on accelerating the development of technology, solutions and operational initiatives, including modernizing existing infrastructure, leveraging cloud technology anddriving efficiencies through robotics and artificial intelligence,” PSCU said.
It added a “significant” investment will also be made to further enhance Lumin Digital, PSCU’s digital banking platform.
“PSCU’s strategic priorities continue to focus on optimizing digital experiences, driving the ability to grow member engagement and delivering market-leading security solutions – all while delivering an unparalleled experience for our credit unions and their members,” said Chuck Fagan, president and CEO of PSCU, in a statement. “This significant level of additional investment will provide a further catalyst for these efforts.”
Added PSCU Chair Cathie Tierney, who is also president/CEO of Community First Credit Union in Appleton, Wis., “To remain competitive in the rapidly evolving payments landscape, credit unions must continue to enhance the member experience, provide leading digital capabilities and elevate security. The board is confident these investments will enable PSCU’s owner credit unions to better compete in today’s market and ultimately contribute to their sustainable growth and success.”