Canadian Credit Unions select Fiserv to drive digital transformation

By Pavithra R

Fiserv, a leading global provider of financial services technology solutions, has announced that Ontario based Healthcare & Municipal Employees’ Credit Union (HMECU), British Columbia based Northern Savings Credit Union and Saskatchewan based TCU Financial Group, will use Fiserv technology to modernize operations and drive innovation.

The 3 CUs, each with unique memberships and distinct needs, were seeking a modern technology platform to increase flexibility, reduce operational costs and integrate third party services and solutions. Besides, these CUs were looking for a long-term technology partner with strong presence in Canada. The CUs selected Fiserv and the DNA core account processing platform, with implementation of the new technology to be led by Canadian FinTech provider, Celero.

“Our biggest challenge is to be able to serve members where, when and how they expect. We chose Fiserv and Celero because we need partners with whom we can scale as we grow and who each had a long-term commitment to the Canadian market,” said ason Moran, COO at HMECU.

DNA is a modern core account processing platform with an open architecture that makes it easier for financial institutions to enable easy integration and customization, bring products and services online quickly, and add new capabilities easily. The platform also a 360-degree view of member relationships that enables FIs to deliver personalized service and more relevant product offerings.

The CU’s transition to their new banking platform will be led by Celero, a firm with significant experience enabling CUs across Canada to implement innovative banking technologies, including Fiserv solutions.

“The right technology foundation enables financial institutions to be nimble as they meet the evolving needs of their respective memberships. Fiserv is committed to helping these credit unions innovate and remain competitive in an ever-changing banking landscape,” said Rob Palin, general manager, Canada at Fiserv.

Established in 1984, Fiserv is a global provider of payment and financial services technology. The FinTech aspires to move money and information in a way that moves the world. The Firm is a member of the S&P 500 Index and the FORTUNE 500 and is among FORTUNE World’s Most Admired Companies.