Patelco Credit Union of San Francisco has agreed to use a core processing application from Fiserv Inc.
The Brookfield, Wis., banking technology vendor said Thursday that the $3.6 billion-asset Patelco is planning to implement its Acumen software to help its expansion efforts.
Fiserv said its Acumen software was designed specifically for credit unions. It was introduced in the United States last year, and was marketed abroad before that.
"The Acumen platform's scalability matches the aggressive and service goals of Patelco Credit Union," Scott Butler, Fiserv's president of credit union solutions, said in a press release. It "provides large, progressive institutions like Patelco the freedom to respond and adapt to market demands quickly."
Fiserv has said that upgrading their core systems can give financial companies better insights into their customers' overall financial status, and that having such information can help increase cross-sales.
Shares of Fiserv were trading at $54.37 at midday Thursday, up 1.12% from the closing price Wednesday.