Sound Credit Union has selected Temenos Collections, delivered as Temenos SaaS, to modernise its loan collections operations.
Sound Credit Union, a US credit union serving consumers and businesses across Washington state, has selected Temenos Collections, delivered as Temenos SaaS, to modernise its collections operations. Sound serves more than 183,000 members through 26 full-service branches. The credit union chose Temenos after a comprehensive evaluation of its operations and supporting technology, with the aim of improving efficiency, data accuracy, collector productivity, and service to members.
Cloud-based collections with core integration
Temenos Collections gives Sound a cloud-based platform with real-time integration to its core banking system. This allows collections teams to view multiple accounts, improve data visibility, and adopt software updates more efficiently. The solution also supports flexible customisation, improved note tracking, automated data capture, simplified payment processing, and better document and workflow management.
Stephanie Mabry, VP of Loss Management and Loan Servicing at Sound Credit Union, stated that the credit union is committed to giving its teams the tools they need to work efficiently while providing high-quality service to members. According to Mabry, Temenos offers the collections capabilities, real-time core integration, and flexibility Sound needs to improve productivity, strengthen data accuracy, and support a more member-centred approach to collections.
Temenos’s focus on the US market
Brian DuVal, President, North America at Temenos, stated that credit unions are looking for scalable technology that helps them operate more efficiently while continuing to put members first. According to DuVal, the US is a strategic growth market for Temenos, and the company continues to invest in its regional presence and product development to meet the needs of US banks and credit unions. Temenos is listed on the SIX Swiss Exchange.
By moving collections to a SaaS model, Sound shifts responsibility for software maintenance and updates to Temenos, while gaining real-time links between its collections activity and core account data. For Temenos, the agreement adds another US credit union to its client base as it pursues growth in the region.
