Data Processing Market Leaders Maintain Their Positions

Four companies account for nearly 70% of the data processing market for credit unions. Here's an analysis of the top performers in this category, as highlighted in Callahan's 2002 Credit Union Technology Survey.

 
 

The data processing market for credit unions over $25 million in assets continues to be dominated by four companies. Although more credit unions continue to move into this asset range, the leaders in data processing are maintaining a steady share of the business as compared to this time last year, according to Callahan's 2002 Credit Union Technology Survey.

As of year-end 2001, there were 2,866 credit unions over $25 million, representing $443 billion, or 87%, of industry assets. The addition of 178 credit unions to this group and conversions during the year had only a slight impact on the market share distribution of data processing companies. As the chart below shows, Fiserv Companies, which include six Fiserv resources, continue to dominate the market with a 42.4% share. EDS and Symitar Systems each held their second and third place positions, respectively, though the gap has narrowed between these two players. Harland Financial Services maintained their fourth place position as well. Combined, these four organizations account for nearly 70% of the data processing market for larger credit unions. CGI Group, formerly C.U. Processing, remained in fifth place.

When measured by average credit union asset size served, two Fiserv companies, Summit and AFTECH, are at the top of the list with an average client size of $254M and $253M, respectively. Symitar is next with an average of size of $232M. Each is now working with larger clients on average versus last year, primarily due to the strong asset growth credit unions experienced during 2001.

 

 

 

June 24, 2002


Comments

 
 
 
  • Would have been better if there was a breakdown showing market share of each of the Fiserv companies.
    Anonymous
     
     
     
  • Good information
    Anonymous
     
     
     
  • Would be interested in knowing the FISERV breakdown
    Anonymous
     
     
     
  • I appreciated the information.
    Anonymous
     
     
     
  • Fiserv actually has several platforms that I assume make up thier total of 42%. Is there movement between the various platforms or, is there any particular movement from or to any of the other vendors?
    Anonymous
     
     
     
  • Fi Serv is more than a collection of companies. One of those companies dominates the big credit union market.
    Anonymous