MEMPHIS, Tenn.—Share One is reporting that from 2010 – 2015 it recorded a 75% increase in gross sales and an 87% increase in new system sales. The company said it credits the growth to its highly competitive NewSolutions core processing technology, the extensive offering of after-market ancillary products, and the ability to create and maintain a personal partnership with each credit union client.
From 2001 - 2004, Share One reported that 23 credit unions converted from its legacy software to the then newly developed NewSolutions Core Processing System. Today the client count stands at 118. From 2013 - 2015 the company will have increased the client roster by 27 new credit unions with a $1.5 billion asset share, and the installations queue has 11 conversions scheduled through the second quarter of 2016.
Share One further said its existing clients have contributed to this growth by expanding their product lines and by expanding their memberships. Between 2014 and 2015 Share One assisted with 11 mergers.
The company said that with all business expansions, the continual need for process efficiencies brings the invention of new services. Disaster Recovery became a focus of improvement in 2011, prompting the development of the Hosted delivery system in 2012. This secure solution not only allows for improved redundancy with real-time data replication to two off-site locations, but also saves Share One clients the continual costs associated with hardware maintenance and server licensing. This cost-saving and improved technology will be delivered to 21 clients by the close of 2015, Share One said.
In 2015, the big changes in the EFT world have prompted over 22 of Share One’s existing clients to convert their internal credit card portfolios and/or ATM/Debit card programs to alternative vendors in order to offer better and more efficient programs for their members. Mobile Banking, Remote Deposit Capture, PayPal and Electronic Signature business is growing, with over 20 credit unions completing those installations in 2015.
Share One is a CUSO whose clients range in assets from $10 million to $1.5 billion.