$6 billion DUCA chooses Lodestar Technologies as strategic partner in analytics journey
VANCOUVER, CANADA (October 7, 2022) — Lodestar Technologies, a leader in financial services analytics, is excited to welcome its newest client to the growing community. DUCA Financial Services Credit Union Ltd. (DUCA) is a $6 billion financial institution based in Toronto, Ontario. As the 13th largest Credit Union in Canada (excluding Quebec) by asset size and with 17 branches across Southern Ontario, DUCA proudly serves over 86,000 Personal and Business Members with the full range of banking, lending, and financial services.
After an extensive evaluation period, DUCA chose the robust Lodestar Enterprise Data Store (LDS) as the foundation for its analytics journey. In addition, DUCA will work with Lodestar to implement several purpose-built workflow modules along with integrations to multiple data sources in use at the credit union. The partnership will empower DUCA with both a streamlined path towards a quick return on investment, along with a multi-year roadmap to ensure long-term success.
“We couldn’t be more excited about our engagement with DUCA as we feel the strengths of both parties are perfectly aligned. Between Lodestar’s in-depth knowledge of credit union systems and processes, and DUCA’s strategic vision and commitment to innovation, the potential is unlimited,” said Steve Mott, VP of Sales for Lodestar.
The Lodestar technology stack, along with the technical and strategic services provided, will be leveraged across all areas of the credit union. Immediate initiatives for DUCA include:
- Improve operational efficiency and data governance by building Lodestar to be the single source of truth
- Streamline regulatory reporting including FSRA, IFRS9, and more
- Replace existing CRM with Lodestar’s Opportunity Mining & Management module
Aron Rogers, Chief Technology Officer at DUCA, is among those leading the data strategy for the credit union. Rogers is optimistic about the value DUCA will gain by implementing the Lodestar technology. “Our team is thrilled about the partnership with Lodestar. We recognize the need for a robust data warehouse and all of the technology that surrounds it. We are confident the Lodestar solution will meet our needs now and into the future.”
In addition to the sophisticated business intelligence technology, the technical and strategic support provided by Lodestar were a deciding factor for DUCA. Rogers shared: “We have really been impressed with all of the work the Lodestar team put in to the relationship as we navigated through the sales process. We recognize that launching a data warehouse initiative is a significant undertaking. We feel confident that the Lodestar team will guide us along our data journey and ensure we are maximizing the return on our investment.”
About Lodestar Technologies
Founded in 2008, Lodestar provides data warehousing, business intelligence analytics and professional services solutions to financial institutions. From best-in-class technology to decades of industry experience, we support our clients no matter where they are – and where they want to go – on their analytics journey. For more information, visit www.lodestartech.ca.
About DUCA Financial Services Credit Union
DUCA Financial Services Credit Union Ltd. (DUCA) was formed in 1954 and has grown from a single branch credit union in Toronto to 17 branches across the GTA and Central Ontario with over 86,000 Members and over $6 Billion in total assets including assets under management. DUCA provides comprehensive banking services to both individuals and businesses through an innovative Co-Operative Banking model. With no-fee banking, attractive mortgage and lending rates, a Profit Sharing program that rewards Members, and a commitment to communities, DUCA is an excellent way to bank. For more information visit www.duca.com.