UN credit union selects Temenos' T24 for multi-currency processing

UN credit union selects Temenos' T24 for multi-currency processing

The US-based United Nations Federal Credit Union (UNFCU) is installing Temenos' core banking platform, T24, at its New York headquarters to provide its members with multi-currency services.

The bank will use the Temenos platform to offer its members loans and deposits in multiple currencies such as Euros, Swiss Francs and US dollars.

Currently more than half of UNFCU's 65,000 members reside outside the US. Temenos says its software is able to handle domestic processing and UNFCU's international member base from a single site.

Robert Fallon, UNFCU's vice president of IT, says: "Temenos T24's ability to support all of our core products and system modifications efficiently and in real-time led to our strategic partnership."

The platform is licensed for up to 160 UNFCU concurrent users and some 5000 Internet users. The credit union also has the option to to add users over the next five years.

Implementation is currently underway and is expected to be complete in 12 to 15 months.

Temenos says it has made a substantial investment in the North American version of T24 the deal with UNFCU is a "significant step" in its strategy for the North American market.

Comments: (0)