Desjardins Group will transition its credit card processing to Fiserv, a leading global provider of payments and financial services technology solutions.
Desjardins Group is the largest financial cooperative in North America. Desjardins will be the first, large-scale issuer deployment for Fiserv in Canada.
By streamlining management of consumer card, commercial card, prepaid card and business lines of credit portfolios onto a Fiserv’s unified platform, Desjardins will create synergies across products and power innovative new offerings for its consumer members and business clients.
Through its market-leading card issuing platform, which processes more than one billion credit accounts across North America, Fiserv will support Desjardins’ rapidly growing credit card portfolio, which now has close to four million accounts.
This will allow Desjardins to expand existing digital and mobile-first capabilities, to create a cohesive, real-time experience that includes push provisioning, self-servicing, and robust digital solutions for Desjardins members and clients.
“It is no longer enough just to deliver a card that works well and allows customers to pay,” said Zil Bareisis, Head of Retail Banking at Celent, the leading research and advisory firm.
“Customers expect to have real-time information at their fingertips, along with card controls that allow them to limit payments or freeze a card, and alerts should anything go wrong. Bank staff also want modern user interfaces and unified experiences. Modern platforms like Optis offered by Fiserv enable financial institutions to design great experiences for everyone.”
Fiserv (NASDAQ: FISV) will also provide end-to-end credit processing functions for Desjardins, including core card processing, fraud detection, risk management and ancillary services.
“As Desjardins modernizes for the future we’re enhancing our card platform to continue to deliver a best-in-class experience for our members, clients, and employees,” said Yann Jodoin, VP Payment & Retail Chief Product Officer at Desjardins. “Fiserv investments in digital innovation are allowing us to deliver new digital capabilities.”