Canadian Credit Union BlueShore Financial extends partnership with Temenos

By Pavithra R

Temenos, the banking software company has announced that BlueShore Financial has implemented additional functionality for Temenos Transact, the next generation in core banking.

Since 2007, BlueShore has been a client of Temenos, and the expanded partnership will enable the credit union (CU) to leverage Temenos Transact, Temenos Analytics, and the Temenos Collections module. Temenos’ agile and fully integrated architecture enables BlueShore to roll out new functionality and services swiftly. The enhancements are to be rolled out across its business lines, including retail, non-profit organizations, and SME.

“Throughout our partnership with Temenos, we have collaborated closely, and our staff have seen the value of this software and proactively seek ways to use the technology to empower them to better serve our clients. The execution of this digital transformation project in conjunction with Temenos was like a finely tuned NASA mission, with everyone bringing their expertise to the table and working in sync, even in the midst of the global pandemic. The launch was seamless, and working together as one team with Temenos we were able to go live over a standard weekend. Temenos technology has helped us grow our business and our client relationships, and we look forward to continuing to find new ways to create financial wellness for our clients,” said Fred Cook, CIO, BlueShore Financial.

BlueShore has a solid growth strategy, with a deep focus on enhancing the client experience. The CU, to support the success of its strategy, has continuously bolstered its digital capabilities to deliver high-tech, high-touch client experience seamlessly. In 2019, BlueShore surpassed $6 bn assets under administration, a testament to the firm’s strategy empowered by Temenos technology. This represents an increase of 138% of assets under administration in over eight years.

“We are proud to work together with BlueShore, a long-standing and valued customer. BlueShore is an innovative credit union, delivering hyper-personalized experiences to its members. The team understands the power of technology and the importance of leveraging the best practices and latest technological advances. We’re delighted that they are continuing to expand their use of Temenos Transact, our cloud-native, cloud-agnostic core banking product together with our analytics. Temenos brings together industry-leading technology, global expertise, and a deep understanding of financial services in North America. By continuing to modernize its systems with Temenos, BlueShore ensures that it can navigate any new development that comes its way, find innovative ways to serve members, and drive change in the Canadian financial services industry,” said Alexa Guenoun, President, Americas and Global Head of Partners, Temenos.

Temenos Analytics assisted BlueShore in gaining business insights and differentiating value proposition. With the added Temenos functionality, BlueShore will benefit from open APIs, faster payments, and deeper analytical capabilities. With Temenos Transact, BlueShore is utilizing DevOps, automatically building and installing software in designated environments for developing and testing.