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 Fiserv because 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
“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
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.
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.
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and
deliver financial services experiences in step with the way people live
and work today. For 35 years, Fiserv has been a trusted leader in
financial services technology, helping clients achieve best-in-class
results by driving quality and innovation in payments, processing
services, risk and compliance, customer and channel management, and
insights and optimization. Fiserv is a member of the FORTUNE® 500 and
has been named among the FORTUNE Magazine World’s Most Admired
Companies® for six consecutive years, recognized for strength of
business model, people management, social responsibility and innovation
leadership. Visit fiserv.com
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