Technology CUSO garners $10 million in revenue in 2012, experiencing 6% growth over 2011.
PASADENA, CA (February 11, 2013) – Setting revenue records and experiencing healthy growth during its 10th anniversary last year, Wescom Resources Group (WRG), a provider of software and technology service solutions for credit unions, is poised to match or surpass that performance in 2013. WRG achieved its highest revenue in its 10-year history with more than $10 million in earnings -- and experienced 6.6 percent growth over 2011, as a result.
Client increases WRG experienced in 2012 include:
• More than 50 new clients overall across all products and services, including year-end totals of:
o 68 Online Banking clients
o 73 Mobile Banking clients
o 15 Service Bureau clients, utilizing Symitar’s Episys or Corelation’s Keystone host processing systems.
New products/services or upgrades WRG developed in 2012 include:
• Launched its next-generation platform of MemberEdge Online Banking 3.0, now live at eight credit unions.
• Launched MemberEdge Mobile Banking 2.1 running on the NewSolutions core processing platform from Share One, Inc.
• Launched its integrated mobile Remote Deposit Capture solution, driven by DeposZip® from Vertifi, LLC, and sold to 14 credit unions.
• Launched its integrated Personal Financial Management (PFM) solution driven by Geezeo, Inc, now sold to 15 credit unions.
In 2013, WRG expects to develop MemberEdge Mobile 3.0 to sport a new interface and provide a more seamless integration with third-party providers. The technology CUSO also plans to develop new in-branch and enterprise lending, cross-sales, and service tools this year.
In addition, WRG made significant new investments in service to its existing clients, adding five new employees to its Client Services and Support teams to support its growing client base. The technology CUSO also created a new department focused strictly on its enterprise solutions, which will build the in-branch and enterprise tools previously mentioned.
“It’s been an incredible year in growth for us, while deploying new platforms for our clients,” states Tim Dolan, president of WRG. “We have seen extraordinary demand for our online banking and mobile banking products, and are very pleased with this. Looking forward, one of our chief concerns is positioning our team for the right pace of growth, and adding the capacity to support our growth. We look forward to implementing more process improvements in 2013, as well as announcing exciting new solutions that will be welcomed by our clients.”
About Wescom Resources Group
Backed by Wescom Credit Union, one of the nation’s largest credit unions, with nearly $2.4 billion in assets and serving 225,000 members, Wescom Resources Group provides credit unions with advanced technology solutions that increase their competitive edge. With over 260 credit union clients, WRG is a leader in innovative technologies for the credit union industry. Through its MemberEdge® suite, WRG offers an integrated e-Services channel with Online Banking, Bill Pay, Mobile Banking, eAlerts, Multi-Factor Authentication, Member-Directed ACH, online account opening and more. The WRG Services Division provides Merger support, custom programming, network consulting, and system efficiency studies. WRG also offers one of the most robust Service Bureau solutions in the industry. WRG provides credit unions with innovations that enhance their ability to serve members, reduce costs, and streamline internal operations. For more information, visit www.wescomresources.com.