Staley Credit Union, a $130 million institution based in Decatur, Ill., has adopted Fiserv's Corillian Online platform – a system that integrates online banking, payments and personal financial management tools into one interface.
Under this new approach, Staley also implemented Fiserv's "Mobiliti" for its members' mobile banking needs and "Popmoney" as a P2P payment service.
A statement from Staley explained that the credit union elected to make these changes after it found that its prior online banking technology wasn't enabling the credit union to "brand its website the way it wanted to, leading to serious concerns about a lack of differentiation from competitors." Consequently, Staley needed an online banking platform which would differentiate itself from other financial institutions while providing "strong functionality" for its members.
To compound matters, Staley's online banking provider began marketing other products directly to Staley's members through the online banking site.
"We desperately needed to get away from where we were," said Staley's chief financial officer Kim Ervin. "We were looking for the ability to use our own colors and logos. We wanted to be able to distinguish ourselves from other credit unions."
So Staley turned to Fiserv, a company that had already supplied the credit union's account processing system (Spectrum) and several other solutions.
"With Corillian Online, we're getting a top-notch online banking solution in an ASP environment," Ervin said. "The interface between Corillian Online and Spectrum was greatly enhanced because they were both Fiserv products, and Fiserv is focused on keeping Corillian Online strong and robust."
Staley added that its goal is to get 50% of its members to sign up for online banking with Corillian Online – thus far, 44% of them have already done so.
