Celero, a provider of IT solutions to financial institutions across Canada, has extended an existing agreement with Fiserv for account processing platform DNA for seven more years.

Under the terms of deal, Fiserv’s DNA platform will continue to be the exclusive core account processing foundation for Celero’s 84 credit union and other financial institution clients in Alberta, Saskatchewan and Manitoba.

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The contract extension follows a 10-year agreement signed in 2005. The latest agreement also widens the scope of cooperation between Fiserv and Celero to encompass joint software development projects in addition to the IT outsourcing and business services that Celero provides.

Celero CEO Bob Reczka said: "After a thorough evaluation of core banking options, Celero concluded that DNA remains the best core system for our clients today and into the future. This new agreement enables us to meet client needs by combining the proven and flexible DNA technology with a development strategy focused on enhancing the value of DNA for our clients."

Steve Cameron, president for Open Solutions at Fiserv commented: "We look forward to building on the strong alliance we’ve established over the years to support financial institutions in Canada with DNA and other market-leading solutions from Fiserv. This agreement will allow us to continue to build on the strong momentum DNA has achieved in North America."

DNA is a relational, person-centric, real-time account processing platform that provides a 360-degree view of customer relationships across all channels.

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