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Assiniboine CU begins Interac e-transfer pilot as Celero Xpress approaches general availability for clients

Celero, a leading provider of digital technology and integration solutions for credit unions, is approaching completion of its innovative digital banking platform, Celero Xpress™, with anticipated delivery to clients in fall 2020.

Celero achieved its final pilot milestone as Assiniboine Credit Union (ACU) begins to pilot Interac® e-transfer capabilities within Celero Xpress – this aspect of the project is the outcome of a successful collaboration between Celero and the Prairie Payments Joint Venture (PPJV), which is leading payments modernization for Prairie credit unions.

“This phase of our pilot is significant for two reasons: it marks that the credit union system is just weeks away from having a new, modern digital banking platform, and through our work with the PPJV, credit unions are also one step closer to achieving payments modernization,” says Tom Papagiannopoulos, VP, Celero.

The collaborative efforts of PPJV working with IBM and Celero has moved e-transfer progress from initiation to pilot in four months, with Celero connecting into IBM’s cloud-based payments architecture.

“This is the first step of many on our collective path to deliver a secure and robust payment service that can be connected into leading edge digital delivery systems such as Celero Xpress.  Truly, this is the beginning of a defining moment in our credit unions’ evolution.,” says Michael Devlin, CEO, PPJV.

ACU prepares for implementation of Celero Xpress
ACU has been running a production pilot of Celero Xpress since March, testing and supporting the continual development of new features and functionality. This final pilot stage will enable Celero, PPJV and ACU to validate a critical piece of functionality with its members.

“Seamless and fast money transfer capabilities are touchstone to the modern digital banking experience, which is why this final pilot is so crucial. ACU is looking forward to our next step this fall to debut this platform to our members,” says Jennifer Mullen-Berube, Chief Brand & Innovation Officer at Assiniboine Credit Union.

Over the next month, ACU and Celero will complete their final implementation activitiesCelero Xpress will be generally available to all Canadian credit unions later this year; ACU intends to launch the platform with its 126,000 members this fall.

About Assiniboine Credit Union

The story begins in 1943. The Second World War had a significant impact on economies across the world — Manitoba included. People were struggling to pay their bills, banks were ignoring their pleas, and in an attempt to stay afloat, many Manitobans fell victim to high interest rates charged by money lenders.
It was then that Ed McAffrey and eight co-workers from the Winnipeg Electric Company formed Assiniboine Credit Union — an open bond credit union that everyone in the community was welcomed to join. Money deposited by members was lent to other members in need, making banking fair and available.

Today, ACU is a full-service financial co-operative with over $4.9 billion in assets. They have 14 branch locations in Winnipeg, two northern branches in Thompson and Gillam, and employ over 450 Manitobans.
To serve their members better, they continue to evolve, innovate and grow while staying true to their roots. Money doing more isn’t just a line that appears along with their logo. It’s the guiding statement that represents the way they do business, and conveys their ongoing commitment to improving the lives of people, bettering the planet and creating prosperity for all. They have helped over 126,000 members achieve their dreams over the last 75 years, and would like to help you achieve yours.

About the Prairie Payments Joint Venture (PPJV)

The PPJV is a joint venture formed between the Credit Union Centrals of Alberta, Saskatchewan and Manitoba to administer and manage the IBM contract. It collectively represents more than 75 credit unions across the three prairie provinces. It leads the Prairie Payments Initiative (PPI), that is modernizing payments capabilities through IBM’s Payments as a Service platform.

About Celero

Celero is a leading provider of digital technology and integration solutions to credit unions and financial institutions across Canada. Clients trust Celero’s proven track record delivering innovative banking technologies, digital and payment solutions, cloud computing, outsourcing, IT, and advisory services.

Celero offers reliability and security through its world-class hosted banking system and data centre operations. With key partnerships across the globe, Celero also brings the scale and extensive capabilities of multinational technology companies and the focused expertise of fintech startups. For more information, visit celero.ca.