Top Tier US Credit Union Selects Temenos Infinity to Offer Differentiated Digital Experience for Members
- 15.09.2020 02:19 pm
Temenos (SIX: TEMN), the banking software company, today announced that Elevations Credit Union selected Temenos Infinity delivered on the cloud to digitally transform its member experience. Temenos Infinity will streamline processes, while enabling the credit union to provide frictionless, differentiated member experiences across mobile and online channels. This will allow the credit union to better engage with members, improve money management capabilities, and roll out new capabilities tailored to the needs of its widening member base.
Elevations Credit Union serves over 140,000 members throughout seven counties in Colorado. The credit union seeks to foster growth in its community by providing members with an empowering banking experience. With over $2 billion in assets and growing, the credit union was looking for a partner to transform its online and mobile app experiences for both retail and business banking.
Financial institutions around the world are looking at how to deliver the digital experiences that account holders are demanding. In a new report published by the Economist Intelligence Unit on behalf of Temenos – “Forging New Frontiers: advanced technologies will revolutionize banking” – 66% of banking executives cited new technologies as having the biggest impact on banks by 2025, with 27% of respondents saying that improving the user experience will be the most valuable use of artificial intelligence. Elevations Credit Union will leverage the agility and AI-based capabilities of Temenos Infinity to meet the needs of its tech-savvy member base and provide a best-in-class digital experience.
Temenos Infinity is the leading omnichannel digital banking product covering engagement from acquisition, to account servicing, through to long-term retention, supporting multiple stages of growth. Over 600 financial institutions in the US and Canada use Temenos Infinity. This core-agnostic, cloud-native and cloud-agnostic digital front office product is the leader in customer acquisition and digital banking engagement. Temenos Infinity enables banks to increase digital revenues by 5x and cut customer onboarding time by 75%.
According to a survey conducted in March, 63% of respondents are now more likely to try a digital banking application. Digital channels have become the main vehicle for banking relationships, and the ability to roll out new products and services is imperative. Temenos technology empowers financial institutions to meet the surge in digital banking during the challenging times surrounding COVID-19, and best support their account holders. Elevations will have the agility to address the fast-growing needs for digitalization and offer its members superior financial products.
Craig Draayer, Director of Digital Experience, Elevations Credit Union, commented: “Improving the member experience and increasing loyalty is a key element of our strategic plan to invest in our members and our community. In 2014, Elevations earned the prestigious Malcolm Baldrige National Quality Award, and we continue to take our commitment to quality seriously. With a highly engaged staff, and the right digital technology in place, we can create seamless, personalized experiences for our members. Temenos Infinity will allow us to carry through the Elevations promise with a human-centric digital branch that supports each member’s financial journey 24 hours a day, wherever they are.”
Alexa Guenoun, President – Americas and Global Head of Partners, Temenos, said: “We are proud to partner with Elevations Credit Union and help the team take their member experience to the next level. With Temenos, Elevations will be able to support its members with a wide range of services to support their unique needs from retail to business, whether they are in an urban or rural area. The credit union will be able to grow and respond to today’s member demands as they develop, launching new products and services in days instead of months. Our advanced technology brings the benefits of speed to market, elastic cloud infrastructure, and the ability to accelerate growth. We are proud to support Elevations and other financial institutions looking to help account holders during this time of disruption.”
Join Temenos’ leading digital event – Synergy Online on September 23 – to get inspired by the most innovative financial institutions and technology leaders from across the United States.
 LighticoCustomer Survey: Impact of COVID-19-19 on Consumer Banking, 15 March 2020