Fiserv’s Doug Donofrio on Portico’s Growth, Cloud Strategy, and Supporting Credit Unions

By John San Filippo

The America’s Credit Unions Governmental Affairs Conference (GAC) was held in Washington, DC, March 2-6, 2025. While there, Finopotamus conducted several interviews of credit union technology luminaries, including Doug Donofrio, senior vice president and head of credit union solutions for Fiserv. He spoke with Finopotamus about the significant momentum behind the Portico core platform, Fiserv’s broader credit union strategy, and the evolving landscape for financial institutions.

Accelerating Portico Migrations 

Doug Donofrio

Addressing the notable increase in Portico installations, as reflected in data provided by Callahan & Associates, Donofrio confirmed a significant acceleration in migrations from legacy Fiserv cores. While initial reports suggested some 200 installations over one year, Donofrio clarified it was over a couple of years, but acknowledged a dramatic uptick. “Last year we did over a hundred [Portico migrations],” he noted.

This surge, driven by high client demand, prompted Fiserv to invest heavily in speeding up the conversion process. “We’ve made a lot of changes to our conversion,” Donofrio noted, citing investments in both personnel and technology. Automation tools now streamline data movement, significantly reducing manual effort. “For a Fiserv-to-Fiserv conversion, we were able to cut the time in half by using some automation, newer tools and better processes.” While most conversions are internal migrations, the numbers also include new clients joining Fiserv.

Core Strategy: Portico and DNA Leading the Way

Fiserv’s core strategy for credit unions centers on Portico and DNA as the primary go-forward platforms. “We’ve gone to market with Portico and DNA for years,” Donofrio stated, confirming this approach remains consistent. While Fiserv continues to support clients on its other legacy cores, many are choosing to migrate, particularly to Portico. Fiserv is not actively selling new contracts for legacy systems like XP2, although the company continues to service and develop for existing clients on those platforms.

The decision between Portico and DNA isn’t strictly based on asset size, although larger institutions often lean towards DNA. “It is really understanding the credit union and how they work and what would be the best solution for them,” Donofrio explained. Portico serves a wide range, from very small credit unions up to those exceeding $1 billion in assets. At the time of the interview, Portico had surpassed 600 clients.

Cloud, Openness, and Fintech Integration

Fiserv moved Portico’s mid-tier to the Microsoft Azure cloud in 2023. This move provides enhanced stability and uptime for clients through better redundancy. “Stability is definitely one of the bigger advantages that our clients see,” Donofrio remarked.

Fiserv emphasizes an open approach, particularly with Portico. “We have well over 300 different connections into Portico” via APIs, allowing integration with both Fiserv’s ancillary products and third-party/fintech solutions.

Donofrio highlighted the integration with MessagePay, a text-based payment solution popular among clients. This integration allows for real-time posting of loan payments made via text. Fiserv works with fintechs requested by clients, using the same API integration process. This flexibility caters to credit unions preferring a single vendor (“one throat to choke”) and those wanting to assemble best-of-breed solutions from various providers.

Supporting Smaller Credit Unions and Future Outlook

Donofrio stressed the importance of smaller credit unions to Fiserv and the industry. “Portico is such a great product for them because Portico really helps them to save time. They spend more time with their members,” he explained. Fiserv also aims to scale solutions affordably for this segment, sometimes bundling necessary products rather than offering à la carte options that smaller institutions might struggle to manage.

Donofrio predicts that a continued focus on attracting and serving younger members will be a “big piece of the future.” He also sees artificial intelligence playing a growing role, particularly in enhancing support services. “If we could get answers to clients quicker using AI... It’s something we’re looking at now and is a great opportunity.” The goal is to help credit unions service their members faster.