Co-op Money NZ CEO Henry LynchCo-op Money NZ, which is co-operatively owned by 18 credit unions and mutual building societies in New Zealand, has chosen Oracle FLEXCUBE as its core banking system. \u201cThe Oracle FLEXCUBE solution will replace our existing, legacy core banking system, and will become the one-stop solution for all information across members that will use the system,\u201d says Henry Lynch, CEO of Co-op Money NZ, in a statement. Lynch explains the Oracle solution was chosen by a majority of their credit union members after an in-depth consultative process which discussed its relative benefits and advantages. \u201cBesides the core banking solution, Co-op Money NZ facilitates multiple banking and insurance services, including payment mechanisms and IT facilities that are supported by interactive banking services across phone, text, internet, and mobile devices,\u201d says Lynch.We are focused on becoming increasingly agile, responsive to member needs and resilient to change.Henry Lunch, Co-op Money NZ \u201cOur collaborative approach enables our members to achieve economies of scale and provide the kind of operational efficiencies required to be successful in a highly competitive market.\u201d \u201cWe are focused on becoming increasingly agile, responsive to member needs and resilient to change, and Oracle\u2019s FLEXCUBE ticked all those boxes for us,\u201d says Lynch, on the business driver for the move. Venky Srinivasan, vice president Japan and APAC, Oracle Financial Services, says Co-op Money NZ is a leading example of how the co-operative sector in New Zealand is modernising its infrastructures and applications in order to be faster and more agile when servicing external stakeholders. \u201cOracle\u2019s FLEXCUBE solution is a smart and intelligent system that offers rich and personalised customer experiences, while potentially improving performance and the IT environment of financial institutions,\u201d says Srinivasan. Co-op Money NZ is the industry association for credit unions and mutual building societies. Its members employ over 550 staff, represent approximately 200,000 members, with more than 90 branches, and assets of over $1.5 billion. It is the sixth largest in New Zealand by volume of transactions in its banking system, including Eftpos cards, MasterCard debit cards and ATMs.Send news tips and comments to firstname.lastname@example.orgFollow Divina Paredes on Twitter: @divinapFollow CIO New Zealand on Twitter:@cio_nzClickhereto read digital editions\nof CIO New ZealandSign up for CIO newsletters for regular updates on CIO news, views and events.Join us on Facebook.Join the CIO New Zealand group on LinkedIn. The\ngroup is open to CIOs, IT Directors, CDOs, COOs, CTOs and senior IT managers.