NZCU Baywide launches new core banking system

14th March 2018

NZCU Baywide launches new core banking system

NZCU Baywide has launched a new core banking system that establishes a modern operational platform for the credit union’s 30,000 customers, spread across its branch and nationwide online banking network.

The multi-million dollar project brings the Credit Union on a par with the technology used by leading Tier One banks and gives it the flexibility to grow its customer base, as well as add many more services and systems in the future.

CEO Gavin Earle says the launch is the culmination of two years’ hard work by the team from every branch to head office:

“It’s exciting for NZCU Baywide and our customers because we have updated the foundation for all our operations to give us wider scope to improve services in the future for many more people,” he says.

“Updating our Core Banking System is like replacing the hard-drive in a very large computer so it’s better, faster and able to operate more advanced technology,” he says.

Chairman Iain Taylor added: “This is the largest change project we’ve carried out in our 47 year history and it responds to the needs of customers who are familiar with the types of systems used by leading mainstream banks - while we needed to be on a par with them, we also have ambitions for even better services in the future.

“This is a big result for us, but it’s only the start. We are already working on phase two, which is modernising our internet and mobile banking platforms. Both these projects will be delivered at a later date,” he says.

The new system has been built on an Oracle platform and replaces the previous technology that was installed prior to the mass use of internet and mobile banking. It was installed over the weekend of 2-4th March and has been operational across the Credit Union’s network over the last week.

“We pressed go last Sunday 4th March and have been ensuring a smooth transition for customers since then. The changeover was preceded by a long campaign of information through branches, letters, emails, texts, Facebook and our website, and we are continuing this to make sure all our customers are fully informed.

“Overall, it’s been smooth and we are delighted. As with any big change there have been some questions along the way and we’ve managed to address these swiftly by working closely with customers. There’s been a huge amount of work carried out by our team not only in delivering our new technology but also in letting customers know about the change. Our customers have been very understanding and we wish to thank them for their patience,” said Mr Earle. “I would also like to thank the team for all their hard work in making this possible - it has been an important focus for a long time and is an incredible achievement.”

NZCU Baywide’s Call Centre is open to answer any questions from customers - it can be reached on 0800 229 943 between 8.00am and 7.30pm.

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