BROOKFIELD, Wis.–Fiserv has announced three Canadian credit unions have selected it for core services and other solutions.
Selecting Fiserv were Crosstown Civic Credit Union (US$2.3 billion in assets) in Winnipeg, Manitoba; Noventis Credit Union (US$626 million) in Southern Manitoba, and IC Savings (US$566 million) in Toronto. 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, Fiserv said.
Fiserv added that after thorough reviews, each credit union decided to move from their existing provider to the DNA core account processing platform from Fiserv. Fiserv said it 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.
‘Flexibility’ Provided
“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 in a statement. “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.”
Fiserv described DNA as 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,” the company said. “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 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.
“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.”