- 37,000 member Canadian credit union selects newest core banking platform from Fiserv
- Integrated loan origination capabilities and ability to see 360-degree view of member relationships were key to selection of Acumen
- Interactive voice response and corporate performance management solutions from Fiserv also selected by Kawartha
Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, and the leading provider of business-driven technology solutions for credit unions, announced today that Kawartha Credit Union of Peterborough, Ontario, Canada, has chosen to implement the Acumen(TM) core banking system from Fiserv. The $700 million institution cited the integrated loan origination platform of Acumen and its 360-degree view of members as key factors in the credit union's decision to leverage the strategic platform in-house.
"Kawartha Credit Union is committed to providing excellence in member service. We believe Acumen will enhance our ability to make a positive impact on our members' lives through needs-based advice and financial solutions," said Robert Wellstood, Chief Executive Officer of Kawartha.
Kawartha provides a full suite of services to its almost 37,000 consumer and small business members through 19 branches in Central Ontario. It is one of the fastest growing and most profitable credit unions in Ontario, and it seeks to continue that growth by providing more and better services to its members.
"Acumen combines innovation and industry know-how to help us deliver an unparalleled banking experience with features like the fully integrated loan origination platform, report generation and the comprehensive 360-degree view of each member's relationship with us," said Louise Coleman, vice president of Information Systems for Kawartha.
The stability of Fiserv and the company's investment in innovation was also important to Kawartha.
"When we were looking for a supplier, it was important that we had a cultural fit with them and they had a good depth of resources," Wellstood said. "Technology is going to continue to change more quickly in the future than it did in the past. It's already the fastest changing element of our business. Having a provider that can help prepare us for those changes is important to us."
In addition to Acumen, Kawartha chose ConvergeIT(R): IVR, Prologue(TM) General Ledger, Prologue Accounts Payable and Prologue Fixed Assets.
"Kawartha Credit Union has grown to over 37,000 members by putting member service and community involvement at the heart of its business," said Kevin Sparks, segment executive for Credit Union Solutions at Fiserv. "Acumen is a perfect fit for vibrant, growing credit unions, and we look forward to supporting Kawartha in its mission to support the financial needs of its members and deliver outstanding service."
Acumen is the newest choice in core banking for credit unions. Designed to meet the needs of the largest, most progressive credit unions, Acumen features an open architecture, advanced functionality and superior ease of use, plus the ability to cost-effectively scale as credit unions grow. Acumen is available via service bureau, in-house delivery or resource management.