Pennsylvania credit union goes live with Temenos’ lifecycle management suite
Pennsylvania State Employees Credit Union (PSECU) has gone live with Temenos’ Lifecycle Management Suite’s account origination module.
Temenos says PSECU was looking for a method to “streamline” the account opening process for both deposit and loan-based accounts.
Andrew Coy, AVP of lending, PSECU, says the account origination solution goes “hand-in-hand with the other Temenos Lifecycle Management Suite products we’ve implemented over the years, but most importantly the loan origination module”.
The suite of products originates from a local specialist vendor, Akcelerant, which Temenos acquired in early 2015; and 600+ credit union clients with it (PSECU among them).
Temenos adds: “Within four hours of going live on the system, PSECU not only completed their first automatic member origination process, but did so without manual involvement from a single staff member.”
Last year, PSECU signed as an Akcelerant Framework loan origination customer. This was an expansion of an earlier relationship, as PSECU had been Akcelerant’s inaugural collection customer back when the company was founded in 2000.
PSECU is a Symitar core banking user with more than 400,000 members and assets exceeding $4 billion.
The American dream
Temenos is believed to be heading towards a new contract for its T24 core banking in the US, Banking Technology understands.
The vendor has also stated its bold claims to conquer the US market at its recent annual conference, Temenos Community Forum (TCF).
“Over the mid-term, Temenos’ total licensing revenue can be doubled through the US,” stated David Arnott, the vendor’s CEO.
He also commented that a (yet) unnamed top 25 US bank has recently signed for Temenos’ software. It will be “a great reference to get others”, Arnott said.