Three Canadian credit unions move to deepen community connections with selection of Fiserv core platform
Carpathia Credit Union, Estonian Credit Union and PARAMA Credit Union join more than 100 others in Canada using DNAto boost efficiency and create rich digital experiences for members
BROOKFIELD, WI (May 2, 2019) — Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Carpathia Credit Union, based in Winnipeg, Manitoba, along with Estonian Credit Union and PARAMA Credit Union, both based in Toronto, have selected Fiserv to help modernize their operations and enable them to serve members more effectively in an increasingly digital banking environment.
All three credit unions have deep roots in their communities and were seeking a contemporary technology platform to automate and streamline operations, simplify the creation of new products, and activate a full range of integrated digital services for their members. In addition to advanced technology, the credit unions wanted a provider with a strong commitment to and presence in Canada.
The credit unions’ transition to their new banking system will be led by Canadian financial technology provider Celero. Celero has significant experience helping Canadian credit unions implement Fiserv solutions, and together the companies are facilitating the digital transformation of credit unions across Canada.
Carpathia Credit Union, Estonian Credit Union and PARAMA Credit Union each selected the DNA® core account processing platform from Fiserv. DNA is used by more than 100 credit unions in Canada – including 60 of the top 100 credit unions based on assets – serving more than 1.2 million members. This broad adoption enables productive collaboration and sharing of ideas among credit unions and their staff who are familiar with the modern technologies in DNA.
“It was important for us to have a platform that would allow us to think big and to follow through on new opportunities and never question whether our banking system could handle it,” said Nick Rawluk, CEO, Carpathia Credit Union. “We selected Fiservbecause of the people, the company’s positive reputation and presence in Canada, and the proven track record of continuous investment in DNA.”
DNA is a modern core account processing platform with an open architecture that makes it easier for financial institutions to integrate other solutions, bring products and services online quickly, and add new capabilities using downloadable DNAapps™. DNA also provides a 360-degree view of member relationships that enables financial institutions to deliver personalized service and more relevant product offerings.
“Fiserv is committed to delivering the operational efficiencies and digital solutions that enable clients like Carpathia Credit Union,Estonian Credit Union and PARAMA Credit Union to serve as their members’ primary financial institution,” said Rob Palin, general manager, Canada, Fiserv. “The DNA platform provides capabilities that will enable these credit unions to deliver the convenient, seamless experience their members expect from the branch to the call center to the digital channel.”
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud- based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been recognized as one of FORTUNE World's Most Admired Companies® for 11 of the past 14 years and named among the World’s Most Innovative Companies by Fast Company for two consecutive years. Visit fiserv.com and follow on social media for more information and the latest company news.
About Carpathia Credit Union
Founded in 1940, Carpathia Credit Union is a full-service financial institution based in Winnipeg that is owned by its 10,000+ members and associates. Carpathia is proud to support the many cultural, religious, educational and athletic organizations in the Ukrainian community, city, and province that they serve. Each year Carpathia provides more than $75,000 to community groups and events. For more information, visit carpathiacu.mb.ca.
About Estonian Credit Union
Established in 1954 to meet the financial needs of the Estonian community in the greater Toronto area, the Estonian Credit Union has flourished into a full service co-operative financial institution with close to 5,000 members. The credit union takes pride in its personalized service for everyone and is dedicated to supporting its community through donations, sponsorships, scholarships, volunteer hours, and financial education for everyone. For more information, visit estoniancu.com.
About PARAMA Credit Union
PARAMA Credit Union was established in 1952 by Lithuanians who had arrived in Canada after the Second World War, to help community members buy homes and establish new lives. PARAMA has since grown to be a modern, full-service financial co-operative, serving more than 6,000 members of Lithuanian and non-Lithuanian descent in the Greater Toronto Area. For more information, visit parama.ca.