Fincentric Corporation

Fincentric Corporation

October 25, 2005 07:00 ET

Community Savings Selects Fincentric and Upgrades from RBS to Wealthview Banking

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 25, 2005) - Fincentric Corporation today announced that B.C. based Community Savings Credit Union has selected Fincentric's Wealthview Banking™ as its new core retail banking system.

Prior to selecting Wealthview Banking, Community Savings was running Fincentric's RBS system, a DOS-based platform, since 1988. The credit union recognized an upgrade to its legacy system would greatly provide extensive new functionality, reliability and support growth, while keeping control in the hands of the credit union's IT team. After evaluating other international core banking providers, Community Savings determined that upgrading to Fincentric's Microsoft-based Wealthview Banking platform was the optimal choice.

"Fincentric is the clear winner for us. Wealthview Banking is a leading edge, member-centric, retail banking system in use today by many Canadian credit unions," said Bruce Cook, President and CEO of Community Savings. "Fincentric's software will give us the unprecedented flexibility to meet the unique needs of our members. Among the many benefits, it will enable us to view each member's complete financial picture on a single screen, which ultimately leads to better service and allows us to develop a deeper understanding of how we can help our members achieve their financial goals."

Community Savings will use Fincentric's comprehensive applications to support its competitive deposit and lending products, insurance and investment products, financial planning, business banking and Internet banking. In addition, Wealthview Banking provides real-time high performance online transaction processing and supports integrated delivery channels including branch, Internet, ATM, and telephone.

Said Cook, "Over the years, we have continued to be impressed with the customer service focus of Fincentric and their commitment to the Canadian credit union movement."

As one of Fincentric's first customers, Community Savings and Fincentric share a solid history and partnership. "We are extremely proud to play a significant role in Community Saving's growth," said Robert Nygren, Fincentric's President and CEO. "Their selection of Wealthview Banking over other solutions continues to reflect the strength of our Canadian organization and core banking solution. Moving forward, Community Savings has a new platform that will help modernize their operations, compete more effectively and adapt to future trends in financial services."

About Community Savings

At $220 million in total assets, Community Savings is B.C.'s 20th largest credit union. The credit union provides innovative financial services and products to over 12,000 members throughout the lower mainland and Victoria through 5 branches. For more information, visit, www.comsavings.com.

About Fincentric Corporation

Fincentric Corporation is a leading provider of core retail banking and customer value management software to the global financial services industry. Fincentric's Wealthview™ family of integrated products enables financial institutions to leverage customer knowledge to deliver personalized service and product offers, and develop profitable customer relationships. Fincentric has strategic alliances with TELUS, Microsoft and Intel, and supports financial institutions in over 25 countries. For additional information, visit www.fincentric.com.

Fincentric and Wealthview are trademarks of Fincentric Corporation. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

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