Fintech

ALBUQUERQUE, N.M. – Rio Grande CU picked up an additional branch with a merger of $30-million, 2,500-member New Mexico Central CU.

Fiserv, the third-largest provider of financial services technology on the FinTech 100 ranking, Monday announced it has acquired Open Solutions, a smaller provider of core banking software. The purchase price was $55 million, and Fiserv assumed approximately $960 million of debt.

With the launch of the MasterCard Dual Value Health Card, Medagate enables its cardholders to redeem targeted offers and incentives at the point of sale.

VeriFone Systems announced Jan. 14 a suite of payment products, including an iPad mini version of its Payware Mobile card reader, a similar sleeve for the iPhone 5 and VeriFone HQ, a cloud-based system that allows retailers to monitor their terminals and manage their brands.

Cadence Bank NA plans to issue new Discover debit cards to all of the bank’s debit cardholders during the second quarter of 2013, Riverwoods, Ill.-based Discover Financial Services announced Jan. 14.

A German banking committee has approved an Ingenico SA payment terminal as the first to accept contactless payments in the country under a new contactless pay system called giorgo.

Florida Central CU said that in the new year it plans to stick with the same growth strategies that have helped it to prosper over the past year, but will make one adjustment-slightly lower deposit rates.

Estimating again that $400 billion in checking deposits could be on the move this year, one economist recommends CUs exercise excellent expense control to not only protect their portion of these funds, but to grow share from banks.

It's no secret that for any credit union to grow in 2013 it is necessary to market to a younger demographic. Similarly, it's no secret that means investing in technology and other delivery channels, especially mobile. But that's not enough.

CU nimbleness and the ability to turn bank converts into profitable relationships are keys to growth this year.