Vancity picks Temenos SaaS to modernize core banking for 588,000 members

Temenos announced that Vancity selected Temenos SaaS to modernize its core banking platform and support its next phase of growth. Vancity serves more than 588,000 members across more than three million accounts and reports CAD $42.4 billion in assets. Finextra published the announcement on October 26, 2026.

Vancity's Build-and-Migrate Program

Vancity will follow a build-and-migrate strategy, introducing new digital banking capabilities while progressively modernizing its existing operations. The approach is intended to move Vancity to the SaaS platform at a pace that protects members, operations and business continuity.

The transformation program covers core banking operations across Vancity's main business lines, including retail deposits, retail lending, corporate banking and payments. Its scope includes Temenos Core, Temenos Payments Hub and Temenos Data Hub, deployed on Microsoft Azure.

Wendy Murphy, Chief Technology Officer at Vancity, said: "Banking is changing, and the technology behind it needs to change too. Moving to Temenos SaaS represents a deliberate shift toward a simpler, more scalable technology foundation that can continuously evolve, allowing Vancity to innovate faster and respond to our members' changing needs. It means we can spend less time managing complexity and more time investing in better banking experiences for our members."

Brian DuVal, President, North America at Temenos, said: "Vancity is one of Canada's most significant financial institutions with a broad and sophisticated banking operation. This program underscores how Temenos' modern technology platform can help established financial institutions across North America move core banking operations to the cloud while supporting the breadth and complexity of their business."

Temenos Scale Behind the Vancity Deal

According to akta.pro company records, Temenos reported $861 million in Q1 2026 annual recurring revenue and CHF 1.1 billion in annual recurring revenue. The same records list more than 3,000 financial institutions using Temenos platforms globally, and a 2024 partnership with Amazon Web Services for SaaS expansion.

Temenos Deals Before Vancity

On October 23, 2026, Raya Financing selected Temenos Core to power its next phase of growth, deploying it in a private cloud in Saudi Arabia, Finextra reported. On October 22, 2026, Kingdom Bank went live on Temenos SaaS on Microsoft Azure, implementing Core, Payments and Financial Crime Mitigation, Finextra reported. On October 19, 2026, Sound Credit Union adopted Temenos Collections SaaS to automate debt collection, integrating with its Symitar core banking system, FinTech Futures reported.

Temenos Acquisition Closing

Temenos announced in June 2026 the acquisition of additiv AG, a Swiss fintech specializing in AI-enabled orchestration platforms for wealth management, for 50% cash and 50% equity, expected to close early in the third quarter of 2026.