FLEX moves 13 US credit unions to its core tech in 2020

FLEX, a Utah-based credit union core system processor, announced a full list of 13 core conversions in 2020. The vendor caters to the low-end credit union sector in the US.

“As we look back on 2020 we are amazed at how uncommonly normal the year felt,” stated Sean Holcomb, chief operations officer (COO) for FLEX. “With over 260 credit union customers running FLEX in 47 states, our exposure and perspective to the health crisis has been deep and layered.”

Preston Packer, VP and CMO of FLEX, adds: “Necessity is the mother of invention. We were able to quickly pivot and adapt to provide and deliver successful, remote conversions of the FLEX system.”

The credit unions that went live with FLEX’s tech in 2020 are:

  • Animas Credit Union
    Location: Farmington, NM
    Assets: $147.20 million
    Members: 13,526
  • Alpha Credit Union
    Location: Boston, MA
    Assets: $36.56 million
    Members: 4,501

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Booming housebuilders should be last in the queue for Treasury handouts | Nils Pratley

Vistry Group’s healthy results suggest a sector that’s doing very well despite the pandemic

Big housebuilders were mostly agreed last autumn: their sector had rebounded from the first national lockdown but more subsidies were needed to avoid a crunching slowdown this spring.

Would the chancellor like to extend his one-year stamp duty holiday on house purchases worth less than £500,000 in England and Northern Ireland? Or delay the post-March slimming of the help-to-buy scheme? If not, it was suggested, a cliff edge awaited.

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Business Insider hires Ito to cover the new economy

Business Insider has hired Aki Ito as a senior correspondent covering the new economy. Ito worked for Bloomberg News for 10 years, starting in the Tokyo bureau as an intern, and then as a...

The post Business Insider hires Ito to cover the new economy appeared first on Talking Biz News.

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EXCLUSIVE: Oracle wins Flexcube deal with Somalia entrant BB Bank

Bushra Business Bank (BB Bank), a new Islamic bank based in Somalia, has signed for Oracle FS’s Flexcube core banking system.

Oracle won another deal in Somalia in January 2020

Fintech Futures understands that the bank, planning a 2021 launch and based in Mogadishu, also evaluated Path Solutions and Temenos.

BB Bank plans to offer current and business accounts, through online and mobile channels. Its development is still in the early stages.

Somalia has been a hotbed of new banking deals recently with Temenos, Oracle, Path Solutions and ICSFS all vying for selections.

Amana Bank, Sombank, and MyBank all picked new core systems in 2020.

Oracle also signed Somalian lender Dahabshil Bank International in January 2020.

Somalia, in the midst of a civil war since 1991, received no foreign direct investment from 1990 until 2013. 98% of all Somali shillings in circulation are believed to be counterfeit.

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