Co-op Money CIO Deane Johns One of NZ’s Most Effective CIOs

CIO Magazine Recognises Co-op Money NZ CIO Deane Johns One of NZ’s Most Effective CIOs For Third Year In a Row

CIO Magazine in its prestigious annual awards has recognised Co-op Money NZ’s CIO, Deane Johns as one of the most innovative and effective CIOs in NZ.

Co-op Money NZ CEO Henry Lynch says that it is the third year in a row that CIO Deane Johns has been listed in NZ’s CIO100.

“It is a great honour for both Co-op Money NZ and our CIO, Deane Johns, to receive this industry recognition. We are very proud for Deane and this CIO award acknowledges his leadership and the hard work of Co-op Money NZ’s IT team,” says Lynch.

“It is a privilege to be listed in the CIO100 list and I am very grateful to have a strong, talented team at Co-op Money NZ to help turn our visions and projects into reality,” says Co-op Money NZ CIO Deane Johns.

Lynch adds that in the last 12 months Deane and the Co-op Money NZ team have achieved significant successes.

“Some of these achievements include delivering Oracle Flexcube, a tier 1 core banking platform to two of our member-customers, ACU and NZCU Baywide. Oracle Flexcube is the most significant IT project in New Zealand’s credit union history, and is a next-generation solution used globally by over 300 financial institutions in more than 115 countries.”

Deane and the Co-op Money NZ Group IT team also launched the first Mastercard prepaid gift card, Bonfire.

“We were proud to launch the Bonfire prepaid gift Mastercard in collaboration with our partners Activata Prepay and Card Works at the end of last year. Our team worked with Activata Prepay and Card Works extensively to deliver a tailored card product on time and within budget, an exciting result for both teams,” Lynch explains.

Lynch notes that Fintech companies, such as Activata Prepay and Card Works, are entering the market every day and it is essential to have the ability to create a flexible platform that responds to the changing market and enables collaboration with these new players in a cost efficient way.

ENDS

Co-op Money NZ is the industry association for credit unions and mutual building societies (coopmoneynz.org.nz) and exists to represent, promote and support its Member credit unions and building societies around the country, and to provide cost-effective business services.

Co-op Money NZ and Member credit unions and mutual building societies are not registered banks.

About Co-op Money NZ

Co-op Money NZ is the industry association for credit unions and mutual building societies (coopmoneynz.org.nz) and exists to represent, promote and support its Member credit unions and building societies around the country, and to provide cost-effective business services. Co-op Money NZ provides business-to-business services and is not a registered bank. Services include core banking systems and channels (internet, telephone, mobile banking etc.), EFTPOS and Mastercard card services, ATMs, agency banking, and treasury management services. Co-op Money NZ’s has the largest number of ATMs connected to its switch in the country with nearly 30% of all ATM’s in New Zealand connected to the banking system via the Co-op Money NZ switch.

In providing such services, Co-op Money NZ and users of these services are subject to anti-money laundering and countering the financing of terrorism (AML/CFT) legislation requiring AML/CFT processes to be in place. Co-op Money NZ works with regulators and undertakes audit processes to monitor compliance with this legislation.

Credit unions and mutual building societies are co-operatively owned financial service providers, providing their members with a similar range of services to a bank. Credit unions and mutual building societies are all independently owned and operated by their members for their members, and any profits are returned to the members in a combination of ways i.e. fairer fees, interest rates and community involvement. Our Member credit unions and mutual building societies are all licenced by the Reserve Bank under the Non-Bank Deposit Takers Act 2013.

Credit unions and mutual building societies in New Zealand employ over 520 staff, represent approximately 190,000 members, with around 70 branches, assets of over $2 billion.

Co-op Money NZ is a member of Cooperative Business NZ (nz.coop). Collectively, Co-op Money NZ and its Member credit unions and mutual building societies are ranked 30th on Cooperative Business New Zealand’s top 30 cooperatives by revenue.

Co-op Money NZ also wholly owns Co-op Insurance NZ (www.coopinsurancenz.co.nz), a fully licensed insurance provider under the Insurance (Prudential Supervision) Act 2010).

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