Fiserv Solutions of Canada, a subsidiary of Fiserv, Inc. (NASDAQ: FISV), announced today that Conexus Credit Union of Regina, Saskatchewan, Canada's seventh largest credit union with $3.69 billion in assets and 118,000 members, has chosen to implement its advanced iSpectrum core banking system.
Leaders for Conexus Credit Union chose Fiserv because they are confident that the advanced architecture and leap-frog technology of the iSpectrum solution, combined with the expertise and support of the Fiserv team in Canada will enable them to meet their diverse business needs.
"Emerging as the core banking system provider of choice for Conexus Credit Union marks the beginning of a significant new relationship for Fiserv in the Canadian credit union community," said Kevin Sparks, iSpectrum segment executive for Fiserv. "We know that our iSpectrum core banking system has a tremendous advantage in today's Canadian market because we have developed a forward-looking system, defined a clear technology roadmap for continued enhancements, and invested in the advanced capabilities credit unions need to support their business objectives today and into the future."
Conexus Credit Union completed an extensive evaluation process of potential core banking systems to replace their existing legacy solution. A banking team, consisting of 20 subject matter experts from all business and technology disciplines within the company, reviewed a number of banking platforms. The project team recommended iSpectrum as the system that had the best business and technology fit for Conexus. iSpectrum's use of Internet and web service technologies, scalable open architecture, and seamless member experience will allow Conexus to support its growth goals. The openness of the system will also enable Conexus to easily integrate iSpectrum with the other systems used to support Conexus' complex business environment.
"Conexus is looking forward to working with a global leader that is committed to credit unions and to investing in its technologies and its customers," said Sheryl Britton, executive vice president of Technology Services for Conexus Credit Union. "By selecting iSpectrum from Fiserv, we will not only gain a highly advanced core banking system, but also establish a valuable business partnership that can enable us to achieve our strategic business objectives."
The iSpectrum system is the most progressive platform available in the Canadian market today. The system delivers advanced features that include 360-degree member views, efficiency-boosting customized workflows and an open architecture that gives credit unions flexibility to support their business objectives. iSpectrum is also the only core banking solution offering real-time disaster recovery services from Canadian-based operations centers.
"Fiserv's new relationship with Conexus Credit Union further validates our research and development strategies, while reinforcing the unmatched value and innovation we offer to Canadian credit unions through our iSpectrum solution," said Scott Butler, president of Credit Union Solutions at Fiserv. "We are looking forward to serving Conexus and its members, and maintaining solid market momentum among Canadian credit unions that seek a core banking system that allows them to innovate virtually without limits."