Virginia Credit Union Selects Fidelity Information Services' MISER(R) Core Solution
Topics: General Ledger/General Accounting,
Virginia Credit
Ability to Define and Deploy New Products Quickly and the 'Passion' of MISER Clients Cited as Key Criteria in Highly Competitive Selection Process
JACKSONVILLE, Fla., March 21 /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. (NYSE:FNF) , a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, and its Fidelity Information Services ("Fidelity") division announce that Richmond-based Virginia Credit Union has selected Fidelity's MISER(R) core processing system and ViewPoint(TM) suite of branch automation, business intelligence and CRM capabilities. One of the 75 largest credit unions in the country -- with $1.2 billion in assets -- Virginia Credit Union will leverage the comprehensive and integrated suite of Fidelity solutions to fully support its market growth and offer a wider array of service options to its more than 160,000 members.
"We had been on our existing system for 10 years and wanted to be sure about our choice for a replacement," said Dawn Jones, CIO for the credit union. "We were seeking a vendor with a proven track record of delivery and a system with fewer constraints; one that could provide us with better management reporting capabilities and continuously deliver new technologies that we could use to bring new services to our field of membership."
The decision in favor of the MISER system was the result of an extensive, 19-month search that intensified during the first half of 2004 with hands-on comparisons and site visits, multiple committee reviews and existing client surveys and interviews. Key factors in the selection process, according to Jones, included MISER's ability to help Virginia Credit Union define and deploy new products quickly based on truly powerful and integrated business intelligence as well as the financial strength and stability of Fidelity, which makes it a secure choice to serve the long-term interests of its members.
"Finally, our research revealed that MISER users are passionate about not only the product, but about the quality of service Fidelity delivers on a consistent basis. Taking all of this into account, we feel the MISER solution is the best choice to support our brand today and our vision for tomorrow," concluded Jones.
Full integration again came into the decision-making process when the credit union also opted for the comprehensive suite of capabilities designed to deliver the same look and feel to users, making the system easier to use and reducing training requirements. An integral part of the MISER system, ViewPoint delivers branch automation, CRM and business intelligence capabilities that offer a single, integrated business and member view that will assist Virginia Credit Union in streamlining service, identifying cross- selling opportunities and attracting new members.
"Virginia Credit Union is an institution that believes in living its brand," said Santo Cannone, senior vice president of Fidelity's Integrated Financial Solutions division and executive in charge of the company's credit union business. "To support this philosophy, we're delivering solutions that will streamline their processes, help them better understand and market to members, and strengthen their existing culture that fosters collaboration and teamwork among employees. And the flexibility built into our products means that this vibrant, growing institution will have the ability to meet their members' needs not just for today, but well into the future."
About
Founded in 1928, Virginia Credit Union is a not-for-profit financial cooperative owned by its members. Eligible members include employees and retirees of
About Fidelity National Financial
Fidelity National Financial, Inc., number 262 on the Fortune 500, is a provider of products and outsourced services and solutions to financial institutions and the real estate industry. FNF is the nation's largest title insurance company, with nearly 32 percent national market share, and is also a provider of other specialty insurance products, including flood insurance, homeowners insurance and home warranty insurance. Through its subsidiary Fidelity National Information Services, Inc. ("FIS"), the Company is a leading provider of technology solutions, processing services and information services to the financial services and real estate industries. FIS' software processes nearly 50 percent of all U.S. residential mortgages, it has processing and technology relationships with 45 of the top 50 U.S. banks and more than 3,600 small and mid-sized U.S. financial institutions and it has clients in more than 50 countries who rely on its processing and outsourcing products and services. FIS also provides customized business process outsourcing related to aspects of the origination and management of mortgage loans to national lenders and servicers. FIS offers information services, including property data and real estate-related services that are used by lenders, mortgage investors and real estate professionals to complete residential real estate transactions throughout the
This press release contains statements related to future events and expectations and, as such, constitutes forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be different from those expressed or implied above. The Company expressly disclaims any duty to update or revise forward- looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, the effect of governmental regulations, the economy, competition and other risks detailed from time to time in the "Management's Discussion and Analysis" section of the Company's Form 10-K and other reports and filings with the Securities and Exchange Commission.
Source: Fidelity National Financial, Inc.
CONTACT: Daniel Kennedy Murphy, Senior Vice President, Finance and
Investor Relations, Fidelity National Financial, Inc., +1-904-854-8120, or
dkmurphy@fnf.com; or Dennis Holland, Fidelity Integrated Financial Solutions,
+1-972-943-2685, or dennis.holland@fnf.com
Web site: http://www.vacu.org/
http://www.fnf.com/
http://www.fidelityinfoservices.com/