North Shore Credit Union makes Microsoft-based software a core part of growth strategy
Mississauga, ON - November 14, 2007 - Microsoft Canada Co. announced today that North Shore Credit Union (NSCU), based in North Vancouver, BC, is taking advantage of Microsoft® software as part of its strategic technology decision to drive core financial services and advisory applications. By implementing Microsoft SQL Server 2005 in conjunction with the TEMENOS T24TM banking system, NSCU is developing an easy-to-integrate platform for all of its banking systems, which helps the organization operate successfully in the increasingly competitive Canadian credit union market.
In business since 1941, NSCU offers a wide range of banking services, including chequing and savings, loans, credit, investment advice and insurance products. The organization wanted the TEMENOS T24TM core banking system to operate on the Microsoft SQL Server-based infrastructure to help it more easily integrate systems and share data between various Microsoft-based front-end and back-end applications.
“At North Shore Credit Union, we’re differentiating ourselves from other credit unions and financial institutions by focusing on providing high-value financial advisory services. A rich database platform based on SQL Server 2005 helps us do that,” said Fred Cook, Chief Information Officer, NSCU. “Having a core banking engine that easily talks to those systems means we can more effectively use the information in all of our data stores. This helps our financial advisors better understand both our members and our products, and strengthens their ability to meet our members’ financial goals.”
With 24-hour data processing and business continuity features such as data replication, SQL Server 2005 helps provide a more secure and sophisticated platform for NSCU transactions. The SQL Server-powered TEMENOS T24TM core banking system interoperates with the Pivotal CRM system for better customer relationship management. Enhanced even further with a Microsoft-powered browser-based user interface, SQL Server enriches the business intelligence tools NCSU uses to stay focused on member wealth management.
“We are delighted that North Shore Credit Union has chosen to use a Microsoft-based platform on which to run T24 Model Bank for Canada. We have worked closely with Microsoft to ensure that this combined solution provides excellent resilience, scalability and a very competitive cost of ownership,” said Mark Gunning, Group Strategy Director, Temenos. “It is rewarding to see North Shore Credit Union and the rest of the market acknowledge this and that our best market practice system helps provide real value to our customers.”
“Microsoft aims to help institutions develop the intelligent advisory services needed to thrive in the competitive financial services industry,” said Sujan Menezes, Industry Manager, Financial Services at Microsoft Canada. “We’re thrilled that North Shore Credit Union has chosen to make Microsoft SQL Server 2005 an integral piece of its core banking and advisory systems, and we’re glad to see that the software has become a keystone of their growth strategy.”
About North Shore Credit Union
With 12 branches in communities from Burnaby and downtown Vancouver to Whistler, Squamish and Pemberton, North Shore Credit Union provides expert advice on banking, loans, investments and insurance. North Shore Credit Union has $2.0 billion in assets under administration, nearly 300 employees and 40,000 members. Its subsidiaries include United Mortgage Group, North Shore Capital Corporation, North Shore Leasing Ltd., Pacific Spirit Properties Ltd. and North Shore Insurance Services Ltd. NSCU is designated a Caring Company by the Canadian Centre for Philanthropy and is a proud member of Canada's IMAGINE program. The Credit Union has also been honoured numerous times as one of the most technologically innovative financial institutions in North America.
About Microsoft Canada
Established in 1985, Microsoft Canada Co. is the Canadian subsidiary of Microsoft Corporation (Nasdaq "MSFT"), the worldwide leader in software, services and solutions that help people and businesses realize their full potential. Microsoft Canada provides nationwide sales, marketing, consulting and local support services in both French and English. Headquartered in Mississauga, Microsoft Canada has 10 regional offices across the country dedicated to empowering people through great software - any time, any place and on any device. For more information on Microsoft Canada, please visit www.microsoft.ca.
