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New digital platform for COK Sodality

Published:Sunday | December 16, 2018 | 12:00 AM
Contributed
COK Sodality executives and board members witness the signing of a contract to supply a new cutting-edge digital software system by Canadian firm Smart Solution, recently held at The Courtleigh Hotel and Suites. Standing from from left to right: Ambassador Aloun Ndombet-Assamba, chief executive officer, COK Sodality; Isakalu Duffus, ICT project consultant; Carol Anglin, director, COK Sodality; Roger Lake, business development manager, Smart Solution, and Deryke Smith, CFO, COK Sodality. Seated from left are: Clive Medwynter, vice-president, COK Sodality; Sharon Usim, secretary for the board of directors, COK Sodality; and Iean Tait, president and CEO, Smart Solution.

The COK Sodality Co-operative Credit Union has signed on to a cutting-edge digital software platform designed to facilitate both simple and intricate transactions while offering iron-clad security features.

Provided by Canadian software firm Smart Solution, the binding agreement is to convert Smart Solution's Universal Premier Core Banking Suite, an innovative, browser-based digital banking platform that uses the latest technology.

According to the Ontario-based outfit, the software platform is "an exceptionally agile, rapid-release process that quickly translates client business needs or new ideas into customisable system functionalities". Smart Solution has established a reputation as one of the leading providers of digital financial sector platforms in North and Central America and the Caribbean.

Speaking at the signing of the contract recently at The Courtleigh Hotel and Suites in New Kingston, COK Sodality CEO, Ambassador Aloun N'dombet Assamba, noted that the adoption of the new operating platform capped a long search for "a system that would best serve the changing needs of our members and customers".

"The growing complexity of our financial landscape, coupled with pending regulation by the Bank of Jamaica, mandates us at this time to ensure that we are prepared to not just meet our current requirements, but also the ever-changing requirements of the global financial markets, which demand speed, flexibility and convenience. Hence, our selection of Smart Solution," said Assamba.

She said the Smart Solution product had emerged as a "cut above' the rest of the contenders and had proven itself in the Jamaican landscape.

Smart Solution President and CEO, Iean Tait, in his comments, expressed his delight that COK had "chosen to migrate to our growing family of financial institutions using the Universal platform to support its member service strategies".

He noted that the move was a big step for COK in "transitioning from a completely customised in-house, self-maintained system that has served them well for many years" and that Smart Solution was proud to be chosen as the vendor with the best system to take the credit union forward.

"We are excited to work with such a large, progressive institution and we are fully committed to partnering with COKCU to enable them to deliver on their mandate... to meet new challenges and embrace the future," Tait said.

COK is Jamaica's and the English-speaking Caribbean's largest credit union with some 280,000 members and more than J$9.2 billion in assets.