SunStream Business Services Chooses Fiserv to Modernize Operations

Fiserv, Inc., a leading global provider of payments and financial services technology solutions, announced SunStream Business Services, based in St. Paul, Minnesota, will move to Fiserv to meet the complex loan servicing needs of its shareholders and react more quickly to regulatory and compliance updates.

SunStream Business Services provides business and technology services to Farm Credit Entities throughout the Farm Credit System. The organization is a service entity owned by four shareholders: AgriBank FCB, Compeer Financial Services, Farm Credit Mid-America, and an ownership collaboration of nine Farm Credit Associations, totaling more than $82 billion in assets.

The mission of farm credit providers is to support rural communities and agriculture with reliable, consistent credit and financial services. Having moved away from a network of custom-built systems, all SunStream shareholders will utilize DNA from Fiserv as their common core loan accounting platform, providing these specialized lenders with increased flexibility and more options.

"After upgrading our other financial platforms, we faced the challenge of modernizing our core loan accounting system,"said Ruth Anderson, vice president of product and service delivery at SunStream Business Services."We were looking for a single platform that could handle all of our loan portfolios, including mortgage, operating, term and capital markets loans, and provide us flexibility and ease of integration. Fiserv and their DNA platform proved very well suited to the task."

"SunStream has done a tremendous job helping its members keep pace with technology changes, manage rising costs and increase efficiency,"said Chris Van Der Stad, general manager of DNA at Fiserv."The open architecture and real time capabilities of DNA will enable SunStream shareholders to further streamline operations, while allowing them to customize the platform for each of their serviced organizations and best support their respective needs."