Temenos

FirstOntario Credit Union selects Temenos to enhance digital experience for its members

The credit union will use Temenos Digital to deliver consistent, seamless journeys and more personalized services to Canadian consumers and businesses

GRAND-LANCY, Switzerland, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Temenos (SIX: TEMN), today announced that FirstOntario Credit Union (FirstOntario) has selected Temenos Digital to elevate its online and mobile experience for consumers and small businesses. This strategic initiative will empower FirstOntario to better address the evolving needs of its members by offering more personalized, innovative, and seamless financial services, including readiness for consumer-driven banking.

FirstOntario is a member-owned credit union serving over 133,000 people across Hamilton, Niagara, Halton and the southwest regions extending to Chatham-Kent. With deep community roots, FirstOntario has a strong focus on supporting members and investing in the communities it serves.

Temenos Digital allows FirstOntario a comprehensive 360-degree view of its members to deliver personalized services that drive higher satisfaction and loyalty. By moving from its legacy system to Temenos Digital, FirstOntario will gain the agility and flexibility required to further expand its member base and accelerate innovation.

FirstOntario is a long-time user of Temenos’ core banking solution and by unifying its core and digital banking capabilities onto a single, reliable platform, the credit union will benefit from greater simplicity and operational efficiency. This integration will streamline operations, reduce complexity, and enable more efficient management of technology as FirstOntario continues its digital transformation journey. In addition, the new platform will also be used to improve the digital performance of Saven Financial and Creative Arts Financial, both divisions of FirstOntario.

Lloyd Smith, CEO, FirstOntario Credit Union, said: “Temenos has been a trusted partner for our core banking, and we’re pleased to extend the collaboration to enhance our digital capabilities. Temenos Digital is an exciting step forward in our innovation journey, enabling us to deliver best-in-class online and mobile experiences that strengthen our support for our members and communities.”

Rodrigo Silva, President Americas, Temenos, commented: "We’re delighted that FirstOntario has chosen to expand its partnership with Temenos. Temenos Digital’s proven capabilities, combined with our expertise and commitment to the Canadian market, will support FirstOntario’s ambitious growth objectives and deliver an exceptional digital experience for its members, today and into the future.”

About FirstOntario Credit Union
FirstOntario is a full service cooperative financial institution, serving members for 85 years throughout the Golden Horseshoe, Niagara Region and Southwestern regions of Ontario. With $7 billion in assets under management, FirstOntario is one of Canada’s largest credit unions. Everyone is welcome to be part of FirstOntario for financial services including daily transactions, mortgages, lines of credit, loans and investments. FirstOntario profits are invested into the communities we serve through support for entrepreneurs, competitive rates and charitable pursuits, including our award-winning student nutrition program. Learn more about us today at FirstOntario.com.

About Temenos
Temenos (SIX: TEMN) is the world’s leading platform for banking, serving clients in 150 countries by helping them build new banking services and state-of-the-art customer experiences. Top performing banks using Temenos software achieve cost-income ratios almost half the industry average and returns on equity 2X the industry average. Their IT spend on growth and innovation is also 2X the industry average.

For more information, please visit www.temenos.com.