Canada’s Coast Capital Savings Switches to Temenos’ System

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Canada's second-largest credit union has gone live on Temenos' banking software.

Coast Capital Savings Credit Union in Vancouver is now running the T24 core banking system, Temenos said Thursday. The credit union also uses Temenos Insight, the banking software firm's business-intelligence service.

The $11.8 billion-asset Coast Capital Savings had previously been running two banking systems. It decided to consolidate with Temenos' platform in order to accommodate its growing number of members and its increasing transaction volume, the news release said. Coast Capital Savings has more than doubled its asset base in the past ten years, and, with more than half-million members, it processes approximately 450,000 transactions a day on the Temenos system.

“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,” said Coast Capital Savings president and chief executive Tracy Redies in the news release.

Temenos is a core-banking software firm headquartered in Geneva, Switzerland.

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