CONNECT WITH US
Fintech

Fintech

Vancity Selects Temenos SaaS to Modernize Core Banking

Global Fintech Series logo

Published on

Add as a preferred source on Google
Vancity Selects Temenos SaaS to Modernize Core Banking

Temenos (SIX: TEMN), a global leader in banking technology, today announced that Vancity has selected Temenos SaaS to modernize its core banking platform and support its next phase of growth.

Serving the needs of more than 588,000 members across more than three million accounts and reporting CAD $42.4 billion in assets, Vancity is Canada’s largest credit union and one of the country’s most significant member-owned financial institutions.

With Temenos, Vancity will follow a build-and-migrate strategy, enabling it to introduce new digital banking capabilities while progressively modernizing its existing operations. This approach will help Vancity transition to Temenos’ modern SaaS platform at a pace that protects members, operations and business continuity.

The transformation program will support core banking operations across Vancity’s main business lines, including retail deposits, retail lending, corporate banking, and payments. The scope includes Temenos Core, Temenos Payments Hub and Temenos Data Hub.

Deployed on Microsoft Azure, Temenos SaaS will provide Vancity with a scalable and resilient foundation while simplifying the management of its core banking technology and supporting its ESG commitments through a more efficient technology environment.

Read More on Fintech : Global FinTech Interview: AI and the future of fintech with Hugh Cumming, CTO, Vena

Wendy Murphy, Chief Technology Officer, Vancity, commented: “Banking is changing, and the technology behind it needs to change too. Moving to Temenos SaaS represents a deliberate shift toward a simpler, more scalable technology foundation that can continuously evolve, allowing Vancity to innovate faster and respond to our members’ changing needs.



Source link
Related Topics:Fintech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.