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- Release Date: 03/04/12 11:07
- Summary: JOINTV: FIN: NZACU and Finzsoft Collaborate in Joint Venture
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FIN
03/04/2012 09:07
JOINTV
REL: 0907 HRS Finzsoft Solutions Limited
JOINTV: FIN: NZACU and Finzsoft Collaborate in Joint Venture
The New Zealand Association of Credit Unions (NZACU) has formed a joint
venture with Finzsoft Solutions Ltd to form NZ Bureau Ltd, an IT
infrastructure technology company providing services to NZACU and Finzsoft
for the benefit of their New Zealand clients which includes credit unions,
building societies and financial institutions.
NZACU is the trade association for 25 cooperatively owned credit unions and
mutual building societies, representing more than 210,000 members and assets
of over $1.2 billion. The NZACU currently provides its members with a range
of business services including a core banking facility which collectively
handles by volume the 6th largest amount of financial transactions in New
Zealand.
Finzsoft Solutions is a publicly listed company providing finance and banking
software to a wide range of financial institutions, and its Sovereign product
is well known throughout the industry.
Ian Wills, Joint Managing Director of Finzsoft said "Collaboration of
like-minded organisations to reduce costs and increase their respective
service offerings to clients is a common sense step which is not so common.
We are excited to be working with NZACU on this opportunity and look forward
to exploring other areas of mutual benefit in the future."
Chief Executive of NZACU, Henry Lynch adds "The Non-Bank Deposit Takers
sector continues to see high level of regulation, compliance and
infrastructure costs. This joint venture will enable our members to benefit
from joint knowledge and back office scale that will help drive down costs,
however with a high degree of quality compliance".
The company will commence operation from Monday 2 April 2012.
ENDS
For further information contact:
Henry Lynch Ian Wills
Chief Executive Officer Joint Managing Director
NZACU Finzsoft Solutions Limited
Phone: +64 9 522 3540 Phone: +64 9 571 6800
Mobile: +64 27 497 4993 Mobile: +64 27 295 7205
Email: [email protected] Email: [email protected]
End CA:00221496 For:FIN Type:JOINTV Time:2012-04-03 09:07:06
