Fincentric Corporation, a leading global provider of core retail banking software to financial institutions, has signed an unparalleled agreement with seven of Canada's largest credit unions.
From BC to Ontario, the Alliance consists of Capital City Savings, Libro Financial Group (formerly St. Willibrord Credit Union), Cambrian, Conexus, Meridian, Saskatoon and Westminster Savings Credit Unions, which are focusing on improving member services through their shared core banking software system.
Nearly half of the country's largest and most progressive credit unions currently use Fincentric financial software solutions. This strategic agreement will service the Alliance's over 600,000 members in 156 branches across Canada. By joining forces, the seven credit unions are positioned to leverage more significant decision-making and purchasing power. Their new agreement extends support for the credit unions' current technology platform until 2012, and provides licensing rights to Fincentric's latest Wealthview Banking software.
"This agreement outlines our commitment to utilize enhanced technology and to strengthen and continually evolve our member services," said Steve Gesner, CIO of Meridian Credit Union. "We experienced tremendous growth over the past few years, supported by the Fincentric banking system, with increased size of assets and number of members. This new agreement reflects our long-term commitment to provide an advanced banking platform that supports our plans for continued organic growth and partnerships."
"With our latest Wealthview Banking software, each credit union in the Alliance group can make the most of our integrated Microsoft technology and easily incorporate new applications and tools as they are developed. This accelerates their ability to respond to and stay current with changing industry needs," said Robert Nygren, President and CEO of Fincentric Corporation. "This exciting agreement marks a significant step forward in our strategy to service the growing Canadian credit union marketplace."