| CUETS Certification

Your Neighbourhood Credit Union Completes Chip and EMV Testing

Your Neighbourhood Credit Union has Completed Chip Readiness Testing with Everlink and CUETS

Toronto, ON, Canada – April 29, 2010: Strategic Information Technology Ltd. ("SIT") is pleased to announce that Your Neighbourhood Credit Union has completed "Chip Readiness Testing" with Everlink and CUETS.

"I want to congratulate Everlink, CUETS, Your Neighbourhood Credit Union and the team at SIT for implementing this new technology on time and on budget", said G. Robert Leeming, President of SIT. “This success is another example of the power of partnership in our business. Many companies have great technology, but it's people working in partnership that ultimately determine how successful a project is.”

Using Everlink's EMV (Europay, MasterCard, and VISA) Translator, Your Neighbourhood Credit Union has completed "Chip Readiness Testing" with Everlink that includes testing of a Card Authorization File update, (both full update and partial update), From Host Maintenance (FHM) updates, and financial transactions from both Automatic Teller Machines (ATM) and Point of Sale (POS).

CUETS testing included card order records, PIN distribution testing, PIN change at CUETS Enhanced Branch Services (CEBS) devices, MasterCard simulator testing, a Member CardTM being used at a non-Canadian merchant and a non-Canadian ATM, and authorization (or rejection) by the Portfolio Plus banking software system.

SIT’s Portfolio Plus banking software platform enables credit unions, and other financial organizations, to implement their own flavour of banking to capture market advantage. Portfolio Plus, with its Plug-In BankingTM architecture, allows financial organizations to add functionality as they require it, allowing for maximum strategic flexibility.

About Your Neighbourhood Credit Union

Your Neighbourhood Credit Union, as it is today, was formed from the merger of Grand River Credit Union and Your Neighbourhood Credit Union on October 1, 2007. YNCU currently serves approximately 24,000 Members, and operates nine branches in Kitchener-Waterloo, Cambridge, Brantford, Paris, Windsor and LaSalle, with $393 million in assets under administration.

About Strategic Information Technology Limited

SIT, formed in 1988, develops and markets Portfolio Plus, an extensible banking system that enables customers to plug-in new functionality as required. This is accomplished via SIT's unique Plug-In BankingTM architecture, an Open Banking InterfaceTM, and a Financial Services BusTM that extends Portfolio Plus functionality to other corporate applications. SIT's banking software enables credit unions, banks, trust companies and building societies to offer web banking, loans, loan securitization, investments, term deposits, wealth management, retail, ATM/POS switch interfaces for debit cards, and credit bureau interfaces. Portfolio Plus can also be tailored, on request, to meet specific customer requirements.

SIT can be reached at (www.stratinfotech.com) or by phone at 905-640-0808.

Portfolio Plus, Plug-In Banking, Open Banking Interface, and Financial Services Bus are trademarks or registered trademarks of SIT in the U.S., Canada and other countries. Any other trademarks or service marks contained herein are the property of their respective owners.

Forward-Looking Statements

Forward-looking statements in this document are based on current expectations that are subject to risks and uncertainties. Actual results might differ materially due to various factors such as the competitive nature of the software industry, the ability of SIT to continue to execute its growth and development strategy, and the reliance of SIT on key personnel. SIT assumes no obligation to update forward-looking statements, or to update the reasons why actual results could differ from those that are projected.

SIT can be reached at (http://www.stratinfotech.com) or by phone at 905-640-0808.

For more information:
Patrick Lannigan
Strategic Information Technology
Telephone: 905-640-0808 x356
Email: patrickl@stratinfotech.com

 

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This page was created and/or refreshed on May 26, 2017 @ 14:57:40
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
The page subject is: Everlink Chip Card and EMV Certification and CUETS Certification