New Zealand Financial Technology company, Finzsoft has secured two new multi-year deals for its Sovereign software and hosting services.
Hamilton based First Credit Union has signed a 10-year deal with Finzsoft for the software and technology to run First Credit Union's operations and services for its more than 65,000 members around New Zealand.
Finzsoft has also secured a new 3-year deal with ASX Listed IT managed services company, CSG that will see Finzsoft’s Sovereign Global software running CSG’s trans Tasman financing and leasing operations for office IT equipment.
Auckland based Finzsoft is a financial technology company which specialises in ‘core banking’ software and solutions to run financial institutions like banks and credit unions. Finzsoft is part of the Silverlake Axis Group, a global leader in banking and finance technology, working with some of the world’s largest ‘tier one’ banks.
First Credit Union has 11 branches around the North Island with $318 million in assets, member shares of $263 million and a loan book worth $180 million. It began in Hamilton over 60 years ago. Under the deal, Finzsoft’s Sovereign core banking software will run everything from setting up a new member account, to loans and mobile member services.
CSG is the leading provider of ‘Technology as a Service’ solutions across Australia and New Zealand with more that 20,000 customers and 30,000 IT devices in offices across those markets under its management. CSG will be using Finzsoft’s Sovereign Global software to support the direct sales process and provide staff with standardised and consistent approval and processing of loan applications. CSG will also be using Finzsoft’s hosting solution to support this service.
Finzsoft’s Managing Director, Andrew Holliday, "First Credit Union and CSG will be strategic customers for Finzsoft because of their size and scale.”
Holliday confirmed the deals represented “exciting and significant pieces of new business” for Finzsoft.