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Canadian credit union goes live with Temenos

May 25, 2021

Temenos is the de facto technology platform of choice for 60 digital challenger banks globally

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Canadian credit union goes live with Temenos. Source: pexels.com

Temenos has revealed that Saven Financial, a division of FirstOntario Credit Union, has gone live with Temenos Infinity and Temenos Transact.

According to the press release, the digital-only greenfield credit union offers high-interest savings accounts and investment certificates (GICs), leveraging Temenos technology.

Saven is built on the same cooperative principles as FirstOntario – making a lasting impact on local communities by re-investing a portion of earnings into its communities. Members can select the causes they are passionate about, giving back to their communities without impacting their rates or returns.

Saven used Temenos Infinity, the omnichannel digital banking solution, and Temenos Transact to launch an end-to-end digital platform.

Temenos technology offers Saven the flexibility and agility to quickly roll out new products as it grows its offering. With its relentless investment in R&D, Temenos provides Saven with technology, ensuring it can continue to grow and remain competitive.

Strengthening our communities has always been a commitment of FirstOntario. Launching Saven allows us to have a greater reach to new digitally-focused members with a community-centric mission that shifts the perspective of what it means to be a financial institution. We’ve designed our digital brand to resonate with people who want anywhere / anytime banking. Our vision is to bring a no-nonsense, digital savings experience to those who want to achieve their financial goals through smart saving. To do that we needed to make our online platform easy to use, and enable our members to benefit from our competitive rates. Temenos has been a trusted technology partner of FirstOntario since 2015, and their technology has enabled us to launch a competitive offering that will have a huge positive impact on our members and their communities
Lloyd Smith, CEO, FirstOntario Credit Union

We’ve reported that Wise is now available on Temenos MarketPlace.

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