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Threshold Financial buys credit union switching company
February 4, 2007
MISSISSAUGA, Ontario - Threshold Financial Technologies Inc. announced that it has purchased the key assets of CU-Connect, a Markham, Ontario-based company that provides transaction processing and ATM-driving services to more than 25 Ontario credit unions.
According to a news release, Threshold has immediately assumed responsibility for the CU-Connect operation and soon plans to integrate the business into its Mississauga-based location.
Threshold specializes in the provision of high quality, fully managed POS and ATM network administration and switching solutions to Canadian financial institutions and corporate retailers. The company has been providing transaction-processing solutions to Canadian credit unions for almost a decade. Threshold also provides ATM resale and managed-service solutions that allow FIs to lower operating costs associated with the ATM delivery channel.
"We are very excited about this strategic acquisition," said Matthew McIver, Threshold's president. "We already have a well established presence in the credit-union marketplace, and this purchase further solidifies our long-term commitment to the credit-union industry in Canada."
Threshold employs S1 Corp.'s EMV-compliant Postilion switch platform.
Transaction ProcessingEFT NetworksOtherNorth AmericaBanking Executive SummaryBank / Credit UnionPostilion
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