Fincentric Corporation

Fincentric Corporation

February 01, 2006 07:00 ET

CUTASC Implements Fincentric Gateway to Everlink Services

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 1, 2006) - Fincentric Corporation, a leading global provider of core retail banking software to financial institutions, announced that CU Technical and Administrative Services Corporation (CUTASC) has successfully migrated to Canada's premier electronic transaction switching services provider, Everlink Payment Services Inc. (Everlink Services), with the assistance of Fincentric.

"The successful transition to Everlink is an important milestone in delivering our products to Canadian financial institutions," said Robert Nygren, President and CEO of Fincentric. "The complete solution and ease of integration with Everlink's system allows CUTASC to interface easily with our Wealthview Banking™ platform. This reinforces our dedication to making the strongest technology products and services available to our customers."

"Everlink's ATM and INTERAC Direct Payment (IDP) Switch sets a new standard for credit unions using third-party systems to support a totally integrated retail banking solution," said Mike Feliciano, President of Everlink Payment Services Inc. "It also provides Canadian credit unions with an open choice of which business providers they'd like to use." Everlink is the current provider for the Credit Union Central of Canada (Canadian Central) National Node and the Credit Union Central of British Columbia (CUCBC) BC Node, and offers customers a direct link to numerous networks which reduces points of potential failure.

CUTASC was founded on co-operative principles to provide small and medium sized credit unions access to technical innovations, systems and the skill sets they require to remain independent and competitive in the fast paced financial services industry.

"From the beginning, CUTASC's goal was to offer appropriate technological solutions to credit unions. We achieved this for banking systems in 2003, when we migrated our clients to the Wealthview Banking system," said Wilf Rimmer, CEO of CUTASC. "The migration to the Everlink National Switch provides CUTASC clients with a reliable payment solution for their members." CUTASC clients now have access to the most modern switch facility, including the best real time disaster recovery capabilities and reporting tools currently available to Canadian credit unions.

The open architecture of Fincentric's Wealthview Banking software allowed CUTASC to successfully integrate a new mission critical third-party system into the Wealthview Banking system in record time. The Fincentric Wealthview platform and business philosophy enables credit unions to quickly adapt to market conditions through the rapid integration of products and services that have rich and unique functionality.

About CU Technical and Administrative Services Corp.

Formed in 2002, CU Technical and Administrative Services Corporation (CUTASC) is a credit union services organization (CUSO) owned by Northern Savings Credit Union and Coastal Community Credit Union. Initially established to evaluate banking system alternatives, CUTASC now offers timely access to technology best practices, services and systems to Canadian credit unions.

About Everlink Payment Services Inc.

Everlink Payment Services Inc. is a fast-growing Canadian electronic transaction switching provider that specializes in leading-edge gateway transaction switching, ATM driving and monitoring, and card processing services. Everlink excels at connecting partner organizations to hundreds of thousands ATMs and Point of Sale devices and provides switching services to 90% of the National Credit Union System, as well as banks, and independent service organizations of all sizes. Everlink's cost-effective and comprehensive list of products and services meet the individual needs of over 500 organizations.

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 20 countries.

™Fincentric and Wealthview Banking are trademarks owned by Fincentric Corporation, used under license. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

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