IntegraSys, a unit of Fiserv, Inc., is reporting a "dramatic increase" in use of its Virtual Branch suite of consumer electronic financial offerings. In 2003, Virtual Branch processed more than 90-million electronic transactions including account balance requests, fund transfers and bill payments on behalf of U.S. credit union members-a 260% increase over the numbers from two years earlier, the company said. End-users of the electronic banking suite also have increased more than 60% in that time period. Among the 400 credit unions using Virtual Branch, 40 are new clients that signed on to use the product in 2003.
"With a 60-plus percent increase in our clients' and their members' use, IntegraSys clients are leading the trend in electronic banking adoption," said Dave Selina, SVP and general manager of Virtual Branch, XRoads and Industry Services for IntegraSys. The company said that in addition to online check images, bill pay and other popular features, it has completed significant enhancements to Virtual Branch, including personalized logon that gives members the ability to change their own logon id, e-mail alerts that notify members when scheduled bill payments or account transfers fail, and an enhanced "Contact Us" feature that allows credit unions to provide multiple contact points for online users to get more information.
The company noted that during 2003, its Virtual Branch hosted more than 44-million unique user sessions, almost double the usage from 2001; processed close to six-million bill payments valued at more than $1.3 billion; presented more than 4.5-million check images to credit union members; hosted user connect time equal to 608 years.
For info: www.fiserv.com.
