Customer Success Story
Servus Credit Union – Loan Origination System
Amongst fifteen potential loan origination solutions reviewed, CALMS (Solifi) was confirmed as the best fit.
Background
Servus Credit Union is the second-largest Alberta-based Credit Union and the sixth-largest in Canada. They offer a complete line of banking products and services, including registered accounts, financing, investment and insurance.
These are delivered through the personalised service of its modern branch network and electronically through extensive ATM, telephone and internet channels. As a member-owned financial institution, employing around 500 people with more than $2 billion in assets, Servus serves more than 110,000 individuals and businesses with 2 service outlets and 27 full-service locations throughout Central and Southern Alberta.
The existing computer systems were obtained through a service bureau provider owned by a regional group of Credit Unions, including Servus.
Serving over 110,000 individuals and businesses.
Challenge
The group undertook a project to identify and evaluate new core banking and loans origination systems. Servus needed dynamic, scalable and responsive systems suited to its goals for corporate efficiency growth.
While looking at new systems within the group project, Servus also considered whether the service bureau model approach could deliver the required flexibility and responsiveness with respect to products, pricing and programs while also supporting improvements to customer service.
This triggered a search for stand-alone alternatives for both a Loan Origination System (LOS) and a Banking System.
Technical Considerations:
- A modern UX/UI
- Electronic document and signature management
- End-to-end integration of systems
- Anticipate integration of emerging payment technologies
Servus needed dynamic, scalable and responsive systems.
Solution
Among the fifteen LOS alternatives identified and reviewed, the CALMS (Solifi) solution was confirmed by all references as the best fit; this was reinforced by Solifi’s reputation for delivering on service commitments and its responsiveness to client needs.
The flexible, dynamic and user-friendly capabilities of the system meant the following differentiators were identified as a great fit for Servus:
- Deliverable in the short Servus implementation timeline
- Meets Canadian operating and regulatory requirements
- Easy to use; minimal training needed for operators
- Reconfigurable dependent on requirements
The flexible, dynamic and user-friendly capabilities of CALMS (Solifi) were a great fit.
Results
The CALMS (Solifi) implementation went live on time with integration into the company’s new banking system, as well as numerous third-party agencies.
