Summit Information Systems, a provider of advanced technology solutions for the credit union industry and business unit of Fiserv, Inc. (Nasdaq:FISV), today announced that Penticton, B.C.-based Valley First Credit Union has selected the iSpectrum banking system as its core processing and retail delivery platform.
Valley First, one of the 10 largest credit unions in B.C., with more than C$1.2 billion in assets, will deploy iSpectrum to deliver a new level of service to its 45,000 members from 15 branch locations.
"Our credit union is totally focused on providing the highest quality of service to our membership. We are trusted by our members to provide valued, efficient and cost effective financial products. With our commitment to these standards we need to have a strong banking system enabling us to deliver on our promises. iSpectrum gives us total control to quickly design and deploy new products from a proven credit union platform," said Harley Biddlecombe, president and CEO of Valley First. "We are constantly evolving in order to meet the increasing complexity of the retail banking world, and wanted a solution to manage our present and future requirements while providing real-time information to help us make smarter business decisions. Making the choice for iSpectrum was easy for our staff. What they found in iSpectrum is a complete solution that's easy to learn and use and provides powerful, real-time information throughout the credit union. Above all, the iSpectrum solution provides a low cost of ownership with no limitations."
iSpectrum, an enterprise-wide and completely browser-based solution, is the most open and flexible banking system available for credit unions today. The powerful, yet affordable, blade server platform supported by iSpectrum can easily scale from the smallest to the largest institutions. iSpectrum architecture provides for total hardware redundancy, maximizing availability, and is the only credit union platform that offers real-time, continuous operations. Hardware can be configured with no single point of failure for true 24x7 operation. iSpectrum utilizes the Oracle relational database engine.
"We are extremely pleased to be selected as the technology partner for Valley First," said Kevin Sparks, president of Summit. "Credit unions are no longer limited to evaluating legacy systems for their long-term banking system needs. iSpectrum, the new alternative in Canada, is built from the ground up using latest Internet technologies and does not have limitations that hold back today's growing institutions. The future-proof technology of iSpectrum will uniquely position Valley First to provide innovative products and services to its members well into the 21st century."