Brookfield, Wis.-based Fiserv announced Credit Sense, a new offering that allows members to monitor their credit score, and the rebranding of Raddon Financial Group to Raddon, a Fiserv company.
Credit Sense, enables credit unions to meet member expectations for personalized credit information by integrating credit scores into the digital banking experience. Credit Sense provides a credit score, daily credit monitoring, insight into factors influencing credit score and free financial education resources. Credit Sense also helps financial institutions strengthen and grow member relationships through customized lending offers.
Credit Sense allows the display of a person’s credit score within the online or mobile banking user interface alongside their account information with additional insights and offers tailored to each user. Credit Sense incorporates technology from SavvyMoney, and will be available through Fiserv’s multiple core account processing and online and mobile banking platforms.
According to the Expectations & Experiences quarterly consumer trends survey from Fiserv, 64% of U.S. consumers believe it is important or very important to know their credit scores.
The 155-million Charleston, W.Va.-based Star USA Federal Credit Union has been using Credit Sense for several months. “We are seeing our members become more financially savvy as they monitor their credit scores,” Tammy Wells, CFO of Star USA, said. “Our ability to customize lending offers for our members’ needs has also allowed us to make a substantial number of new loans.”
The 94-billion Huntsville, Texas-based Community Service Credit Union also recently started using the credit monitoring product. “We are always looking for new ways to expand relationships and provide more value for our members, and Credit Sense is helping us do so,” Brenda Hooker, CEO, Community Service, said.
“It’s a natural fit for financial institutions to provide credit monitoring capabilities and financial literacy resources,” Byron Vielehr, group president, depository institution services, Fiserv, said.
The Raddon Financial Group relaunched with an updated slate of research and consulting services for financial institutions. These services provide banks and credit unions with the insight and direction needed to navigate an increasingly competitive market.
“Raddon has been a sought-after source of financial industry insights and expertise for more than 30 years,” Chris Canton, senior vice president, Raddon, said. “In today’s rapidly changing world, bank and credit union clients rely on us for information that helps them anticipate future demand and positions them to grow. We’re changing how we go to market with a focus on delivering actionable insights that enable our clients to better serve their customers and members.”
