SEATTLE – Gesa CU, a longtime Fiserv customer which opted for the company’s new Acumen core processing system, has filed suit in federal court to terminate the contract after it said the company failed to meet a variety of benchmarks and deadlines.
In a civil suit filed in U.S. District Court for the Eastern District of Washington, the $1.2 billion credit union claims Fiserv breached its contract to implement Acumen “repeatedly failed to meet its milestone dates, commitments and other undertakings.” As a result, Gesa invoked its right to terminate the Fiserv contract on July 25.
The credit union has paid Fiserv $1.3 million so far to implement Acumen and claims additional damages of $1.6 million for delays and deficiencies, and is asking the court to award it trebled damages.
Gesa has been a Fiserv customer since 1985 and has been running the company’s Spectrum core processing system since then.
