Strencom, the Irish managed connectivity and cloud computing provider, has announced today that it has signed cloud and connectivity deals totalling €2 million with 140 credit union branches across Ireland.
The agreements will see Strencom host the credit unions’ valuable financial data and connect credit unions with multiple branches.
Strencom’s bespoke connectivity and secure cloud hosting platform is specifically designed for financial services and aims to provide secure, fast and reliable service to credit unions with assets in excess of €8 billion. The platform aims to ensure additional security for credit union members, hosting their sensitive financial and personal data in Strencom’s primary Irish-based data centre, as well as being backed up in a secondary Irish-based data centre.
Strencom now provides services to credit unions including Tipperary CU, Drogheda CU, Croí Laighean CU, Mullingar CU, Tower CU, Ballygall CU, Member First CU, First Choice CU, Thurles CU, Health Services Staffs CU and Mallow CU. Strencom believes that as smaller credit unions continue to join forces with larger entities, Strencom’s solution provides scalable connectivity that can be adapted for multi-branch credit unions.
Commenting on the deal, CEO of Strencom, Tim Murphy said, "We are delighted to provide vital connectivity and secure cloud hosting services to 140 credit union branches across Ireland. Data security is absolutely crucial in the financial services sector, and we are confident that our solution provides Ireland’s credit unions and their customers with the best protection."
He added, "There has been a lot of M&A activity in the credit union sector recently. Smaller credit unions often don’t have the resources to implement the necessary IT infrastructure, regulation and compliance requirements that are now part of Central Bank regulation. They need to be part of a bigger entity to survive and this announcement today will support that."