Ultradata Australia Pty Ltd announced today that Community First Credit Union have extended their long-term partnership with Ultradata for the provision of core banking services.
Community First Credit Union, who also completed the successful amalgamation of CAPE Credit Union customers, selected Ultradata as its ongoing long-term core banking technology partner following the implementation of key member service solutions including the Ultradata New Payments Platform.
The New Payments Platform (NPP) is Australia’s fast payments infrastructure and was created out of a mandate from the Reserve Bank of Australia to make instantaneous payments ‘the norm’ in Australia - as they are in a number of countries around the world.
To facilitate this mandate, Ultradata have delivered an intuitive user experience to help clients deliver the many benefits of the NPP to their customers. This includes functionality allowing the transfer of payments within seconds, and enabling customers to send payments to commonly known addresses.
To ensure the solution provides value to all Clients, Ultradata have allowed for NPP transfers to be parameter-driven based on an institution’s own strategy.
John Tancevski, CEO, Community First Credit Union said, “Community First success is driven by providing our members with the best options for banking, whether it be face to face contact in a branch, or be delivering forward-thinking digital services. Partnering with Ultradata is the best solution to drive that strategy.
“At Community First, we continue to try and ‘work smarter’ - the Ultracs core banking solution ticks boxes in lots of areas for us, including the delivery of new banking tools and better ways of engaging customers.
“We are particularly pleased with the recent upgrades as the solutions are helping us deliver on our commitment to providing CAPE customers with more advanced technology.”
In addition to being long-term clients, Community First play a key role within the Ultradata community through their contribution to Ultradata future product planning. Community First is also a leader in the credit card space and Ultradata will be working closely with the organisation to expand their capability in this area.
Peter Henshaw, CEO, Ultradata said, “We are delighted that Community First Credit Union has made the decision to extend their Ultradata partnership. In the short term Community First will adopt the latest release Ultracs core banking solution, but that is just the start as we implement a range of additional products and functionality.
“The installation of Ultracs version 5.1 at Community First Credit Union is imminent, with teams from both organisations already laying the foundations for the business benefits that will flow from the process. But immediacy aside, we are looking forward to continuing to collaborate with the Community First team as we consider future projects to bring our vision to reality.”