Coast Capital Savings Credit Union has gone live with the core banking system, Temenos T24, to process approx 450,000 transactions per day.

It replaces two systems, helping to give the bank better operational control and a consolidated view of its business. In addition, Coast Capital is also live on Insight, Temenos’ domain-specific business analytics tool, which makes available to managers a range of desktop reports and dashboards helping to improve decision-making. The implementation was carried out by staff from Coast Capital and Temenos with support from Ernst & Young.

Tracy Redies, president and CEO at Coast Capital Savings, says the conversion to the T24 banking system is a significant investment in the future of the organisation, adding that it will ensure the credit union has the needed technological backbone to accommodate future growth and to further enhance its products and services to members.

“Given our rapidly growing customer base, our new banking system provides us with a strong, flexible and robust environment that will help us continue to deliver innovative products and services to customers across a wide range of channels, be it online, mobile or in-branch,” Redies comments. “The primary reason we chose Temenos is that it offers us a banking system solution that is scalable and that has a built-in ability to grow with our organization and the constantly evolving needs of our customers.”

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