Top Core Processors Among Largest US Credit Unions

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Fiserv DNA, Symitar Episys and FIS Miser were ranked the top three core processors for credit unions or greater than $1 billion in assets, according to CUCollaborate’s proprietary database. Among credit unions between $500 million and $1 billion in assets, Corelation KeyStone took the top slot, followed by Fiserv DNA, Symitar Episys, Fiserv DataSafe and Fiserv Spectrum.

The ranking system runs from 1 (Very Poor) to 6 (Great) and is based on reviews and surveys by users of those platforms. For the purposes of this article, each core processor had to have at least 5 credit union clients in the asset-size category.

Click on the name of the companies below to reach their individual rank profile page or click here to do your own sorting of the core processors.

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>$1B in assets

1. Fiserv DNA: Average score: 5.18 (2 of 6 survey respondents are >$1B)

49 of 117 credit unions running on DNA are >$1B

Clients by assets

  • Average: $1.4B
  • Median: $817.0M

Contracts with the bigger credit unions are approximately 5 years, but the smallest credit union is 1-year contract. To give you a cost per member of those contracts:

  • Average credit union is $10.94
  • Median credit union is $5.74

Top 3 Benefits Ranking (of 52 Core Processors)

  • MCIF Analysis Functionality (12)
  • Native Application Integration (18)
  • Availability of third-party integrations (22)

     To determine integration details, click here.

Review: Clients said Fiserv’s datamining capabilities are a great strength as well as integration. Weaknesses were listed as mortgage servicing, complexity and pricing for changes and monthly maintenance fees.

2. Symitar Episys: Average score: 5.06 (15 of 38 survey respondents are >$1B)

114 of 475 credit unions running on Episys are >$1B

Clients by assets

  • Average: $824.4M
  • Median: $385.6M

Contracts with the largest credit union is 10 years, but the average and median are 4-5 years. The smallest credit union has a 1-year contract. To give you a cost per member of those contracts:

  • Average credit union is $102.89 (anomalies in the data may have affected this)
  • Median credit union is $4.58

Top 3 Benefits Ranking (of 52 Core Processors)

  • System documentation (7)
  • Willingness to work with 3rd parties (8-12 in related categories)
  • User Training and Consulting (16)

To determine integration details, click here.

Review: Reliability, integration and flexibility were repeatedly listed by users among Episys’ strengths. At the same time, it’s weaknesses included being slow to modernize, including costly 3rd party integration and old code.

3. FIS Miser: Average score: 4.59 (2 of 2 survey respondents are >$1B)

17 of 21 credit unions running on Miser are >$1B

Clients by assets

  • Average: $2.0B
  • Median: $1.6B

Contracts with the bigger credit unions are approximately 5 years, but the smallest credit union has a 3-year contract. To give you a cost per member of those contracts:

  • Average credit union is $3.11
  • Median credit union is $3.11

Top 3 Benefits Ranking (of 52 Core Processors)

  • MCIF Analysis Functionality (4)
  • Deposits (8)
  • R&D, Imaging, Third-Party Integrations (9)

To determine integration details, click here.

Review: Strengths of the Miser platform, according to one user, include its open architecture, but weaknesses include the expense of the hardware.

 $500M-$1B in assets

  1. Corelation KeyStone: Average score: 5.63 (2 of 7 survey respondents are $500M-$1B)

12 of 67 credit unions running on Keystone are $500M-$1B

Clients by assets

  • Average: $481.3M
  • Median: $236.0M

Contracts with the bigger credit unions are run up to 10 years, but the smallest credit union is 5-year contract. The average is 6.2 years and median is 5 years. To give you a cost per member of those contracts:

  • Average credit union is $7.14
  • Median credit union is $6.53

Top 3 Benefits Ranking (of 52 Core Processors)

  • ATM/Debit Cards, Imaging, User Training & Consulting, System Documentation (3)
  • Reporting Information & Management, System Architecture, R&D, Relationship Management, Interoperability of 3rd party integrations (4)
  • General Ledger, Native Application Integration, Disaster Recovery & Business Continuity (5)

To determine integration details, click here.

Review: KeyStone is seen by clients as modern and reliable, however, its weakness according to clients will be its ability to manage growth. In response to a credit union question about KeyStone, several clients chimed in to explain their decision to convert to Keystone. Click here to see the discussion.

  1. Symitar Episys (81 of 475 credit unions, 9 of 38 survey respondents)

See data above for details

  1. Fiserv DNA (28 of 117 credit unions, 2 of 6 survey respondents)

See data above for details

  1. Fiserv DataSafe: Average score: 4.176 (6 of 14 survey respondents are $500M-$1B)

24 of 171 credit unions running on DataSafe are $500M-$1B

Clients by assets

  • Average: $413.7M
  • Median: $140.2M

Contracts with the bigger credit unions are run up to 7 years, but the smallest credit union is 1-year contract. The average and median are 5 years. To give you a cost per member of those contracts:

  • Average credit union is $9.29
  • Median credit union is $5.03

Top 3 Benefits Ranking (of 52 Core Processors)

  • Imaging (21)
  • Disaster Recovery & Business Continuity, Availability of 3rd Party Integrations (25)
  • Relationship Management (26)

To determine integration details, click here.

Review: Stability was the primary strength listed among DataSafe clients who reviewed the platform. On the flipside, weaknesses included the age of the system and cost of adding 3rd parties.

  1. Fiserv Spectrum: Average score: 3.81 (3 of 12 survey respondents are $500M-$1B)

26 of 151 credit unions running on Keystone are $500M-$1B

Clients by assets

  • Average: $624.8M
  • Median: $287.1 M

Contracts with the bigger credit unions are run up to 7 years, but the smallest credit union is 1-year contract. The average is 3.6 years and median is 4 years. To give you a cost per member of those contracts:

  • Average credit union is $14.77
  • Median credit union is $11.13

Top 3 Benefits Ranking (of 52 Core Processors)

  • MCIF Analysis Functionality (29)
  • ATM/Debit Cards (30)
  • Native Application Integration (31)

To determine integration details, click here.

Review: The Spectrum software was considered stable and easy to use, according to client reviews. However, the stability that comes from a mature system is counterbalanced by the need to modernize the platform, users said. It can also be expensive.

February 07, 2018