Three Canadian Credit Unions Forge Long-term Relationships with Fiserv to Further Growth and Efficiency
BROOKFIELD, Wis.--(BUSINESS WIRE)--Sep 24, 2018--Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Crosstown Civic Credit Union (US$2.3 billion in assets), based in Winnipeg, Manitoba, Noventis Credit Union (US$626 million in assets), based in Southern Manitoba, and IC Savings (US$566 million in assets), based in Toronto, have selected Fiserv to deliver technology solutions that will enhance the credit unions’ ability to compete in today’s fast-paced and digitally driven banking environment. Canadian financial technology provider Celero will provide conversion and hosting services to each institution.
The three credit unions were seeking technology providers with significant experience in the Canadian market, a track record of innovation focused on emerging consumer and industry trends, and a modern core processing platform to serve as a technology foundation for the next 15 to 20 years.
After thorough reviews, each credit union decided to move from their existing provider to the DNA core account processing platform from Fiserv. Fiserv is the North American market leader in core processing services and its platforms are used by 60 of the top 100 credit unions in Canada based on assets.
“Working with Fiserv gives us the flexibility to introduce the solutions our members need in real time, while helping to streamline internal workflows,” said Mona Forsen, CEO, Crosstown Civic Credit Union. “Our selection of Fiserv and Celero will enable us to stay competitive in the digital world and help us achieve our goal of organic growth through an enhanced member experience.”
DNA is a modern, unified core account processing platform that provides a 360-degree view of member relationships, enabling financial institutions to deliver personalized service and more relevant product offerings. The open architecture of DNA makes it easy for financial institutions to integrate other solutions, bring products and services online quickly, and extend the capabilities of DNA with downloadable DNAapps™. DNA has been recognized by industry-leading analysts for its technology, user experience and breadth of functionality. DNA is used by more than 100 credit unions and more than 1.2 million credit union members in Canada.
“The architecture and features of DNA, along with the ability to readily integrate other capabilities into the platform, will enable us to realize operational efficiencies while also enhancing the omnichannel service experience for our members,” said Kevin McKnight, CEO, Noventis Credit Union.
“We chose DNA and Fiserv because we wanted technology and partners we could work with for at least the next 20 years,” said Fausto Gaudio, president and CEO, IC Savings. “The modern design of DNA helps our member service reps maintain our historically strong productivity ratio while supporting our personal and differentiated brand of neighbourhood banking that allows us to compete with the largest banks in Canada.”
The credit unions’ transition to their new banking system will be led by Celero, which hosts and supports more than 80 Canadian credit unions using DNA spanning five provinces.
“We are excited to partner with these three progressive credit unions to share our deep knowledge of credit unions, innovative industry solutions and financial technology expertise, supporting their goals of providing a member-centric service experience that will make them a compelling competitive choice in the financial services market,” said Simon Vincent, executive vice president, Banking and Omnichannel Solutions and Services, Celero.
“Crosstown Civic Credit Union, Noventis Credit Union and IC Savings recognize the central role that technology plays in driving growth, increasing efficiency and deepening member engagement,” said Rob Palin, general manager, Canada, Fiserv. “A modern core platform is a foundation for long-term success, and we look forward to helping these credit unions deliver an exceptional experience for members and their communities for years to come.”
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
About Crosstown Civic Credit Union
Crosstown Civic Credit Union serves more than 31,000 members and is the fifth largest financial institution in Manitoba. The credit union is committed to providing the best value to members by offering competitive products, services and honest advice delivered through a network of nine Winnipeg branches, a Virtual Division and a Commercial Services Department. For more information, visit crosstowncivic.mb.ca.
Noventis Credit Union, based in Gimli, Manitoba, takes pride in building relationships with its members to meet their goals and supporting the communities it serves through numerous sponsorships and social responsibility projects. The credit union serves 26,000 members through digital channels and 11 branch locations. For more information, visit noventis.ca.
About IC Savings
IC Savings has grown into one of Ontario’s most trusted and well-established credit unions through a focus on providing attentive, personal neighbourhood banking. IC Savings serves 13,000 members through in-branch, online and mobile channels, and through a lending division throughout southern Ontario. For more information, visit icsavings.ca.
Celero is a leading provider of Information Technology (IT) solutions to credit unions and other financial institutions across Canada and the only Canadian company included in the 2017 IDC Top 100 FinTech Rankings. A full-service IT company, Celero provides complete banking solutions, IT planning, systems integration, hosting, support, and consulting services as well as business analytics solutions and expertise. Celero meets the unique needs of financial institutions and delivers world-class reliability and security through its Canadian-based data centres, employees, and operations. For more information, visit celero.ca.
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and deliver financial services experiences in step with the way people live and work today. For more than 30 years, Fiserv has been a trusted leader in financial services technology, helping clients achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and insights and optimization. Fiserv is a member of the FORTUNE ® 500 and has been named among the FORTUNE Magazine World’s Most Admired Companies ® for five consecutive years, recognized for strength of business model and innovation leadership. For more information, visit fiserv.com.
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KEYWORD: UNITED STATES NORTH AMERICA CANADA WISCONSIN
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE PROFESSIONAL SERVICES BANKING
SOURCE: Fiserv, Inc.
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PUB: 09/24/2018 08:35 AM/DISC: 09/24/2018 08:35 AM