Temenos gains new business from Akcelerant-derived user base
Temenos is claiming US progress with its Lifecycle Management Suite, albeit at existing customers. New modules have been taken by Maps Credit Union, Hudson Heritage Federal Credit Union and Guardian Credit Union, reports Martin Whybrow.
New clients in Alabama, New York, and Oregon
Maps CU, a community credit union serving the Mid-Willamette Valley of Oregon with more than $741 million in assets, added origination for lending and account opening to its existing collection platform.
Maps’ Toni Silbernagel, SVP of Lending, cited “streamlined underwriting and workflow capabilities, a holistic view of our account holders across the collections and lending departments, and optimised front-end features” for the choice.
New York-based Hudson Heritage, with assets of over $400 million and 40,000 members, has taken origination for account opening, and added mobile and online onboarding features after going live with origination for lending last November.
Alabama-based Guardian, with $487.5 million in assets, signed for origination for lending and account opening in 2018 and has now taken the collection module.
There are over 600 financial institutions using the Lifecycle Management Suite in North America. The low-end solution for credit unions was previously branded Akcelerant Framework.
Temenos acquired Philadelphia-based Akcelerant in early 2015 as part of the supplier’s switch to an acquisition strategy, having largely failed to make progress in the US prior to this. The Akcelerant acquisition followed that of another low-end domestic supplier, Trinovus, in 2013.
It is not clear how many new-name wins have been gained since the Temenos takeover. At the time of the acquisition of Akcelerant, the customer base for Akcelerant Framework was described as 600+, the same as is cited for today’s rebranded version.
