Velera to Provide Card Processing Services to Ohio-Based Kemba Credit Union

Velera will begin providing the credit union with this support in August, the companies said in a Tuesday (Jan. 27) press release emailed to PYMNTS.

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“We are confident Velera’s card processing services will help us deliver more flexibility, choice and control to our members, while also advancing our long-term organizational goals,” Kemba CEO Dan Sutton said in the release.

Tiffany Doty, senior vice president, sales at Velera, said in the release that the partnership will deliver “enhanced card services and an even stronger member experience for years to come.”

Velera serves more than 4,000 financial institutions across North America, according to the release. Along with payment processing, the CUSO offers fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and member support via its contact centers.

Credit union innovation has become a defining factor in how these institutions compete, grow and serve members in a rapidly changing financial landscape, according to the PYMNTS Intelligence and Velera collaboration “Credit Union Innovation Readiness: How Credit Unions and FinTechs Are Innovating Together.”

The report also found that credit unions are using external partners to move faster, expand capabilities and manage rising complexity. More than half of the credit unions surveyed said that partners help bring innovations at a much faster pace or on a larger scale than they could achieve on their own.

Velera announced another credit union partnership on Jan. 20, saying Indiana-based Financial Center selected it to provide debit and credit card processing services.

Velera serves more than 4,000 financial institutions across North America, according to the release. Along with payment processing, the CUSO offers fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and member support via its contact centers.