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New Zealand’s Largest Credit Union Moves To Oracle Flexcube

New Zealand’s Largest Credit Union Moves To Oracle Flexcube

NZCU Baywide Adopts Tier 1 Core Banking

AUCKLAND, 15 MARCH 2018: Co-op Money NZ, the industry association for credit unions and mutual building societies, is delighted that NZCU Baywide, New Zealand’s largest credit union by assets, has successfully migrated to the Oracle Flexcube platform, a modern, next-generation tier one core banking solution used globally by over 300 customers in more than 115 countries.

NZCU Baywide CEO Gavin Earle said, “The successful migration to Oracle Flexcube is an important milestone and huge achievement which will directly benefit our customers. Two years ago we made one of our strategic goals to be ahead of the curve on technology change and digital transformation and to best prepare for the rapid changes we are all now experiencing.”

“Oracle Flexcube is an integral part of our omni-channel customer approach. It provides the infrastructure to deploy our digital strategy and business transformation. This ultra-modern system is a multi-purpose enabler that gives us the foundation to leverage technologies and enhance the customer experience through innovation, speed, and convenience as expectations change at exponential speeds”, Earle added.

Co-op Money NZ Chief Executive Henry Lynch commented, “This is the second successful deployment of Oracle Flexcube to our Member credit unions. It is a very exciting development for the credit union movement and we are confident in delivering this tier 1 solution to the remaining seven credit unions over coming months.”

Lynch notes that the tier 1 core banking migration is part of a wider modernisation programme managed by Co-op Money NZ. Oracle Flexcube was launched for ACU in August 2017 and NZCU Baywide in March 2018. The remaining seven credit unions are expected to migrate to the Oracle Flexcube platform this year.

“Credit unions and mutual building societies have been operating in New Zealand for over 156 years. Deploying a tier 1 core banking platform is the top priority project in our credit union modernisation programme to help future proof their operations and we are glad to have reached this milestone in the Programme to date,” Lynch concluded.


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