Three Canadian credit unions move to Fiserv core

Source: Fiserv

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Carpathia Credit Union, based in Winnipeg, Manitoba, along with Estonian Credit Union and PARAMA Credit Union, both based in Toronto, have selected Fiserv to help modernize their operations and enable them to serve members more effectively in an increasingly digital banking environment.

All three credit unions have deep roots in their communities and were seeking a contemporary technology platform to automate and streamline operations, simplify the creation of new products, and activate a full range of integrated digital services for their members. In addition to advanced technology, the credit unions wanted a provider with a strong commitment to and presence in Canada.

The credit unions’ transition to their new banking system will be led by Canadian financial technology provider Celero. Celero has significant experience helping Canadian credit unions implement Fiserv solutions, and together the companies are facilitating the digital transformation of credit unions across Canada.

Carpathia Credit Union, Estonian Credit Union and PARAMA Credit Union each selected the DNA® core account processing platform from Fiserv. DNA is used by more than 100 credit unions in Canada - including 60 of the top 100 credit unions based on assets - serving more than 1.2 million members. This broad adoption enables productive collaboration and sharing of ideas among credit unions and their staff who are familiar with the modern technologies in DNA.

“It was important for us to have a platform that would allow us to think big and to follow through on new opportunities and never question whether our banking system could handle it,” said Nick Rawluk, CEO, Carpathia Credit Union. “We selected Fiserv because of the people, the company’s positive reputation and presence in Canada, and the proven track record of continuous investment in DNA.”

DNA is a modern core account processing platform with an open architecture that makes it easier for financial institutions to integrate other solutions, bring products and services online quickly, and add new capabilities using downloadable DNAapps™. DNA also provides a 360-degree view of member relationships that enables financial institutions to deliver personalized service and more relevant product offerings.

“Fiserv is committed to delivering the operational efficiencies and digital solutions that enable clients like Carpathia Credit Union, Estonian Credit Union and PARAMA Credit Union to serve as their members’ primary financial institution,” said Rob Palin, general manager, Canada, Fiserv. “The DNA platform provides capabilities that will enable these credit unions to deliver the convenient, seamless experience their members expect from the branch to the call center to the digital channel.”

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