HAMILTON, Ontario -- Prime Financial Savings and Credit Union has gone from the 1980s to the 21st century in one fell swoop.
The $80 million CU converted one recent weekend from its DOS-based legacy system dating to the 1980s to an Internet-based iSpectrum platform from Summit Financial Technologies Canada.
The ASP system is based at the Summit data center in Vancouver, British Columbia, and includes a business resumption and recovery center in Toronto.
"We've taken a big technology leap forward without an interim step. Our entire implementation is installed on a state-of-the-art infrastructure, and the dual data centers will more than cover any disaster recovery issues," said Bill Clark, chief executive officer of Prime Financial.
Along with core processing, the deployment also included new or updated third-party solutions such as online and telephone banking and a new internal network.
"iSpectrum, with its multiple delivery channels, is attracting the attention of both small and large Canadian financial institutions, which recognize iSpectrum as an alternative to the legacy platforms currently in use throughout Canada," said Kevin Sparks, president of Oregon-based Summit Information Systems, a Fiserv Inc. business unit.