Three Canadian credit unions have collaborated with Fiserv to adopt latest digital banking technologies and modernise operations.

The three institutions are Toronto-based Estonian Credit Union and PARAMA Credit Union and Winnipeg, Manitoba –based Carpathia Credit Union.

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All the three credit unions have selected Fiserv’s DNA core account processing platform. The platform has already been adopted by more than 100 credit unions in Canada.

The platform will enable the credit unions to automate and streamline operations, facilitate launch of new products and offer a full range of integrated digital services for their customers, the technology vendor said.

Fiserv Canada general manager Rob Palin said: “Fiserv is committed to delivering the operational efficiencies and digital solutions that enable clients like Carpathia Credit Union, Estonian Credit Union and PARAMA Credit Union to serve as their members’ primary financial institution.

“The DNA platform provides capabilities that will enable these credit unions to deliver the convenient, seamless experience their members expect from the branch to the call centre to the digital channel.”

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Canadian financial technology provider Celero will assist the three credit unions in migrating to the new banking system.

Carpathia Credit Union is owned by more than 10,000 members and associates. The Estonian Credit Union and PARAMA Credit Union have 5,000 and 6,000 members respectively.

Recently, Mercury Payment Services and Arion Bank selected Fiserv technology to mitigate frauds and streamline AML processes.