OREANDA-NEWS. Fiserv, Inc. (NASDAQ:FISV), a leading global provider of financial services technology solutions, today announced that UMassFive College Federal Credit Union (UMassFive), a $400 million asset credit union with a field of membership that includes employees and students of Amherst College, Hampshire College, Mount Holyoke College, Smith College and the University of Massachusetts, has deployed a suite of digital banking, payments and personal financial management (PFM) capabilities from Fiserv. Adoption of online and mobile banking and payments has increased following implementation of the new, integrated services, indicating that a unified experience is a significant factor in driving digital engagement.

UMassFive implemented Corillian Online® for online banking, CheckFree® RXP® for electronic bill payments, the Popmoney® personal payment service and AllData® PFM. The credit union already utilized MobilitiTM from Fiserv for mobile banking and Mobile Source Capture™ for remote deposit capture, having launched these services in 2013 and 2014, respectively. The tight integration of these digital banking and payment capabilities with the credit union's existing Portico® core account processing platform from Fiserv, as well as with each other, was a key factor in the credit union's choice.

"On a scale of one to 10, UMassFive viewed the importance of integrating account processing and digital channels with one vendor as an 11," said Jon Reske, vice president, marketing, UMassFive College FCU. "When it comes to services that our members use every day, our goal is to deliver the very best user experience. Tighter integration facilitates a better experience, such as the ability for members to use one set of credentials across all services."

Just two months after implementation, online banking adoption had risen from 39 percent of members to 42 percent. In the same period, Mobiliti adoption increased from 43 percent of online bankers to 48 percent. Currently, more than 50 percent of members' online banking activity comes from mobile users through Mobiliti.

The Fiserv Consumer Trends Survey has shown that digital banking and payments users are more satisfied with and less likely to leave their financial institution than non-users. This is particularly significant for UMassFive because of their member base.

"We face a high hurdle when it comes to member retention because many of our members move away at the end of school or professional commitments," said Reske. "Digital banking services are critical not only to growing our membership, but to retaining it, because these services can be accessed by our members no matter where life leads."

Enhanced digital capabilities such as mobile deposit help UMassFive members self-serve and complete key banking and payment tasks even if they live far away from branch locations. The new AllData PFM capabilities support the credit union's financial literacy commitment and are now a key discussion point in budgeting seminars.

"Digital banking and payments services that are practical and convenient can be powerful tools to increase member engagement in a competitive world," said Marc West, division president, Digital Channels, Fiserv. "UMassFive is providing a unified digital banking experience that fits right into members' daily lives."