Recent pilot conversion to completely digital cloud-based core banking platform is next step in digital transformation for Atlantic credit unions.
HALIFAX, NS, May 2, 2024 /CNW/ - A first for the Canadian financial industry, League Data, the CIO and technology partner for Atlantic credit unions, announced today that they have successfully converted Brunswick Credit Union to the Mambu cloud-based banking platform. As their legacy core banking system is approaching end of life in 2025, League Data is seizing the opportunity for further digital transformation of its credit unions to modernize the banking experience for members.
"Our shared goal is to migrate every credit union in the Atlantic Credit Union System to this new banking platform that will provide an ecosystem for future growth and optimization," said Chad Griffin, Chief Information Officer, League Data. "The objective is not to mirror exactly what we have today. It is an opportunity to reimagine our systems."
Credit unions need a banking platform that allows them to move faster and be more responsive to create the experiences and develop the products members need in their communities.
"Once the core transition has been completed, leveraging the Mambu cloud banking platform to its full extent to take advantage of future possibilities is where the full benefits and potential for our members will be realized, "said Lisa Loughery, CEO, Brunswick Credit Union.
With Mambu, Atlantic credit unions will have an enhanced capability to scale its deposits and lending offering, the ability to roll out its products quickly and efficiently and transform everyday banking for its retail and business members. From checking and savings accounts, to mortgages, loans, and business banking. A modern agile core means credit unions will spend less time managing legacy systems and more time focusing on innovating and improving their members' experiences.
"At Mambu, we believe that banking and financial services can change the world for the better," says Fernando Zandona, Mambu's CEO "We wanted to bring innovation and simplicity to the credit union segment. And we are with League Data, every step of the way."
As Chief Information Officer (CIO) for the Atlantic Credit Union System, League Data Ltd. provides technology leadership in the area of banking solutions, aligned with regional and national credit union system initiatives that support member growth and system efficiencies. League Data provides over 50 seamless, fully integrated technology solutions from key vendors to deliver a member-first experience while meeting the evolving banking needs of both credit unions and their members. www.leaguedata.ca
Mambu is the world's only true SaaS cloud banking platform. Launched in 2011, Mambu fast-tracks the design and build of nearly any type of financial offering for banks of all sizes, lenders, fintechs, retailers, telcos and more. Our unique composable approach means that independent components, systems and connectors can be assembled in any configuration to meet business needs and end user demands. Mambu supports 280 customers in over 65 countries - including Western Union, Commonwealth Bank of Australia, N26, BancoEstado, Raiffeisen Bank, ABN AMRO, Bank Islam and Orange Bank. www.mambu.com.
SOURCE League Data Ltd.
Darren Johnson, League Data Ltd., [email protected] or 902-497-8702
Share this article