UK Credit Unions
Deliver Outstanding Member Experiences While Driving Greater Efficiency
Temenos has worked closely with credit unions for 20 years to enhance technologies and efficiencies, helping them to innovate and personalise their services and build stronger relationships with their members.
The future is SaaS and, at Temenos, we believe in making it as easy as possible to utilise and integrate our capabilities. We provide a full cloud-based packaged Credit Union solution, including mobile banking, internet banking, core banking, and reporting.
If you haven’t investigated selecting a cloud technology platform, read our simple Infographic ‘Selecting a Cloud Technology Platform for Credit Unions’. We outline the 9 considerations you need to consider before selecting a provider.
Our Solutions For Credit Unions
The Community Banking platform, powered by Temenos SaaS, offers pre-packaged front-to-back credit union products, processes, and channels, built on modern cloud-native, cloud-agnostic and API-first technology. This will enable the credit unions to offer an outstanding digital experience to their members, while enabling them to quickly launch new products and services in response to new market opportunities. The credit unions envisage that the technology partnership will fast-track the delivery of a number of new products, including revolving credit, a wider range of home loans, SME loans, and a suite of green, or climate-related, loans.
Making major changes is, for credit unions, challenging, and making major changes quickly is doubly difficult. However, the period of change which Open Banking is ushering in can lead to one of great opportunity. Open banking separates distribution services from manufacturing services and introduces a layer between the channel and the intervening service. In addition, if the credit unions (and banks) are not to be disintermediated by merchants, then they need to start becoming more intimate with their members.
The good news is that they are ideally placed to do so because the main reason anyone banks with a credit union is to take advantage of their closeness to the community. So firstly, they have to show their members that finance is not all they can offer. Secondly, they have to make it clear that they can help their members with their life goals, not just with purchases. Life goals are things such as having a baby, getting married, moving house, having a holiday, and educating a child. All of these events necessitate their clients to find local services.
Temenos Infinity – digital banking platform
Temenos Transact – core banking
Temenos Analytics
Temenos Payments
Temenos Financial Crime Mitigation
Hear From The Credit Unions We Work With
We’ve supported Credit Unions from The United States to Ireland. Don’t just take our word for it, hear from the Credit Unions we work with.
The impact of our transformation has been phenomenal: we can now deliver even higher-quality services to our customers without driving up cost and complexity for the business. In our sector, continuous innovation is crucial to compete effectively. We wouldn’t hesitate to recommend Temenos, and we look forward to working with them to find new ways to improve our services.”
Claire Byrne, Chief Executive Officer at St Raphael’s Garda Credit Union
Read the full Success Story here.
Meet With Our Credit Union Experts
We’d love to discuss your concerns or aspirations for your Credit Union and to see if one of Temenos’ many solutions could be the perfect fit.
Submit your contact details and questions below and one of our experts will be in touch shortly.