Financial technology services company Ser Tech on Thursday said it has signed two credit unions for its new Flitter Credit Network.
Dallas-based Ser Tech said Flitter is an online platform that integrates with a credit union’s mobile and home banking network to provide authentic FICO scores and credit education to members.
The first two CUs to use Flitter are $4.3 billion Redwood Credit Union, Santa Rosa, Calif., and $896 million S.F. Police Credit Union, San Francisco.
“Ser Tech was very flexible,” Tony Hildesheim, CIO at Redwood Credit Union, said in a statement. “We wanted a tight integration, and so they built their product to be API-driven as a service or as a complete package through single sign-on for those credit unions that did not have the time or access to use an API service.”
Wrynn Valentine, Redwood CU financial wellness advocate, added, “We truly believe providing members their credit score with common language that helps explain why they had that score is a major component, delivering a valuable piece of information they could use to better their financial lives. Unlike some credit scores, we do not require that members sign up to receive their score. They simply must have a loan product or credit card with us, then they can log in to online banking and their score will be there. As a result, we know views of the scores are very high.”
Kathy Litman, senior vice president of marketing for S.F. Police Credit Union, said Flitter “adds value” for SFPCU’s members.
“Since most consumers are anxious to learn about what affects their credit score, and FICO as an organization is dedicated to providing that type of financial education, we felt this could be a strong value-added service to make available to our members,” Litman said. “We are very excited to launch this service to our members. We are pleased to have worked with Ser Tech in securely displaying members’ FICO scores in online banking.”
Mike Covert, Ser Tech’s chairman, said, “We are very pleased Redwood and SFPCU are happy with the Flitter service. We know it provides their members valuable information about their credit.”
Ser Tech describes itself as a financial technology services company that leverages credit data to help clients target consumers to generate new loans, provide actual FICO scores and credit education for consumers, and identify, measure and manage portfolio risk and opportunity through comprehensive loan management. Ser Tech has served more than 3,000 credit unions since 1994.
