TELUS and Fincentric join
forces to bring powerful banking technology to credit unions across
Canada
Vancouver, BC, April 5, 2005
– TELUS and Fincentric today launched Bank by Wire,
a service that will make state-of-the-art retail banking technology
available to credit unions of any size. Bank by Wire combines Fincentric's
functionally rich retail banking platform—that until now was
mainly available to credit unions as an in-house solution—with
TELUS' telecommunications and IT services.
"With Bank by Wire, we are combining our
partner's proven self-serve banking technology with TELUS' IT and
telecommunications services giving us the flexibility to tailor
solutions to meet the needs of individual credit unions. It is cost-effective,
simple, and functionally rich," says Luc Vilandré, vice
president of TELUS National Application Solutions. "This solution
is supported by a complete range of related services, from consulting
and network management through to risk management, drawn from the
broad expertise of TELUS and Fincentric. Where a large credit union
can afford to bring such an advanced self-serve banking system in-house,
a smaller credit union may prefer a hosted service with a monthly
fee. Bank by Wire supports either approach."
This new alliance fortifies an already strong
relationship between TELUS and Fincentric, which have been working
together for the last six years to provide software and services
to Canadian credit unions.
"We recognized that a great number of credit
unions were underserved by the three largest outsource providers,"
says Alice Laberge, Fincentric’s president and chief executive
officer. "Bank by Wire is the antithesis to these restrictive,
vanilla service bureaus. By utilizing Wealthview Banking and other
state-of-the-art technologies on a managed service-basis, all credit
unions regardless of size are better able to differentiate themselves
and realize their strategic business goals."
Bank by Wire provides numerous benefits for credit
unions including:
- Canadian-built, proven core retail banking
platform; available as an in-house or hosted solution
- Integrated platform for applications, including
Microsoft products and supporting technologies
- Software and services through channels such
as Internet, ATM, IVR, and wireless, on a 24X7 basis
- Complete list of services, from consulting
to risk management.
- Reduced operational complexity and risk
- Reduced cost of managing and operating a complex
IT and telecommunications infrastructure
- Increased flexibility and adaptability to deliver
new products and services
- Increased member satisfaction and retention
through improved capabilities to transact and service members
About TELUS
TELUS (TSX: T, T.NV; NYSE: TU) is the largest telecommunications
company in Western Canada and the second largest in the country,
with $7.6 billion of annual revenue, 4.8 million network access
lines and 3.9 million wireless customers. The company provides customers
with a full range of telecommunications products and services including
data, voice and wireless services across Canada, utilizing next
generation Internet-based technologies. For more, please visit www.telus.com.
About Fincentric Corporation
Fincentric Corporation is a leading provider of core retail banking
and customer value management software to the global financial services
industry. Fincentric’s Wealthview™ family of integrated
products enables financial institutions to leverage customer knowledge
to deliver personalized service and product offers, and develop
profitable customer relationships. Fincentric has strategic alliances
with TELUS, Microsoft and Intel, and supports financial institutions
in over 25 countries.
Media Contacts:
Shawn Hall
TELUS media and public relations
604.697-8176
Shella Evangelista
Tel: (604) 214-5710
Fincentric
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