Fiserv wins trio of Canadian credit union deals for DNA
Fiserv has won a trio of new Canadian credit unions, with all three institutions selecting the vendor’s DNA core processing system.
Ontario-based Healthcare & Municipal Employees’ Credit Union (HMECU), British Columbia-headquartered Northern Savings Credit Union, and TCU Financial Group, based in Saskatchewan, have all selected Fiserv and its DNA solution.
Fiserv says all three sought a “modern technology platform” to increase flexibility, reduce operational costs and integrate third party services and solutions quickly.
Celero, a Canadian financial technology provider and Fiserv partner, will take charge of the implementation of DNA across all three institutions.
HMECU has 10,000 members and around $250 million in assets under management.
“Our biggest challenge is to be able to serve members where, when and how they expect,” says Jason Moran, COO at HMECU.
“We chose Fiserv and Celero because we need partners with whom we can scale as we grow and who each had a long-term commitment to the Canadian market.”
TCU Financial Group has 14,000 members and has more than $770 million in assets. Fiserv says it recognised small and medium sized businesses (SMBs) in their community were underserved.
“The world is changing rapidly, and member needs are changing as well,” says Svjetlana Mestrovic, AVP of systems optimisation and integration at TCU Financial Group.
“With DNA, we are able to customise our platform and quickly connect our members with relevant Fiserv and third-party solutions.”
Northern Savings Credit Union holds around $640 million in assets among 14,000 members.
“For the last few years, we were meandering down the road of digital transformation,” says Bob Marshall, CEO at Northern Savings Credit Union.
“Last year, we had to react quickly to the dramatic shift in member demand for digital services, and with Fiserv we will have a platform that is able to adapt as quickly as our members.”