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Canada's Lambton Financial Credit Union signs with Fiserv for Acumen core banking solution

April 26, 2010

Fiserv Solutions of Canada Inc., a subsidiary of Fiserv Inc., announced today that Lambton Financial Credit Union Ltd. of Sarnia, Ontario, has chosen the Acumen account processing solution. Lambton Financial Credit Union is the 15th Canadian credit union to choose Acumen for core banking, according to a news release from Fiserv.

After an extensive review of solutions on the market, Lambton Financial Credit Union selected Acumen to support its growth strategy. Specifically, leaders of the credit union cited Acumen for its integrated loan processing capacity, 360-degree member views and ability to improve back-office processes.

"We believe that the services offered in this solution will allow us to better understand and manage our members' business," said Robert Ferris, CEO for Lambton Financial Credit Union. "Acumen will allow us to streamline our member service processes and dramatically improve efficiencies in the back-office. We believe this change will better prepare us for the challenges of the future and provide us with the tools to be a strong niche player in the financial-services industry in the communities we serve."

Ferris also said that the state-of-the-art Canadian service bureau and feature-rich functionality of Acumen — like the eJournal, designed to enhance workflow throughout the credit union's departments, work groups and branches — were key considerations that led Lambton Financial Credit Union leaders to select Acumen.

"Acumen is a great core banking system for credit unions in Canada because it enables them to introduce a bold new approach to technology and capitalize on modern innovation to achieve their business objectives," said Kevin Sparks, segment executive for Fiserv. "As a global leader in financial services technology, Fiserv also offers account processing clients access to a range of related products and services designed to help them keep pace with the rapidly evolving marketplace."

Acumen is available throughout Canada in an in-house, service bureau or resource management deployment model, Fiserv says.