June 20, 2010

Alberta credit union integrates customer data with Temenos

Servus, an Alberta-based credit union, is to use the Temenos T24 banking software platform to integrate three separate banking systems.

Formed in November 2008 as the result of the merger of three Albertan credit unions - Servus in Edmonton, Community Savings in Red Deer and Commonwealth Credit Union in Lloydminster - Servus is Canada’s first province-wide credit union. It has over C$10 billion in assets, 100 branches, and around 400,000 members.

Switzerland-based Temenos is providing Servus with its Temenos T24 Canadian Model Bank software, which is specially designed for Canadian credit unions. Other Canadian credit union clients of Temenos include North Shore Credit Union and Coast Capital.

Servus provides a complete line of banking services, including chequeing and savings accounts, credit cards, financing, wealth management, insurance, commercial banking, 24-hour on-line and telephone banking.

The existence of three separate banking platforms within Servus means that it is currently difficult to have a province-wide single view of the customer. “While in our regional centres, we can have a single view of the customer, the challenge is to have a province-wide integration, so that a member could enter any of our branches across Alberta and get a single, real-time view of their accounts,” Eric Dillon, the Chief Operating Officer of Servus, tells Payments Business.

“We are doing the conversion to Temenos T24 in stages to reduce the risk of any problems occurring during the migration. The first conversion of member data to the new system will take 18 months, and full conversion of data is about 36 months away.”

Servus’ credit cards, mutual funds and discount brokerage products and services are provided through credit union industry-owned third-party companies.

“We would like, provided we get individual member consent, to be able to offer integrated real- time views of services and products that we offer via third-party outsourcers,” Dillon says. “There is flexibility in the Temenos software to be able to do this.”






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