St Raphael’s Garda Credit Union extends Temenos contract
Largest credit union in Ireland
St Raphael’s Garda Credit Union, the largest credit union in Ireland, is extending its deal with Temenos to include the digital channels platform, Temenos Connect.
It will also upgrade its T24 core banking installation, which is now nearly ten years old. The original deal was inked in 2008 with CU Plus, a small Ireland-based tech company that offered T24 on an outsourced basis. CU Plus went bust a couple of years ago. Its projects and clients transitioned to Temenos.
The upgrade will take nine months, focusing on the credit union’s lending operations, with enhancements such as automated loan processing and approval.
The new deal with Temenos aims “to create a front-to-back fully integrated technology stack that will support true straight-through processing (STP) and drive down its cost base”, the vendor says.
St Raphael’s Garda Credit Union has assets exceeding €400 million and 35,000 members. It serves members of Ireland’s police force and their families. The members own the credit union, which is a non-profit organisation.
In addition to offering share and loan accounts, the credit union entered the mortgage market in 2017.
