Explore how British Columbia's Blueshore Financial (now Beem) de-risked its core banking transformation

In 2025, members and clients of BlueShore Financial elected to join Beem Credit Union, creating a province-wide credit union. Beem Credit Union is a large British Columbia-based financial institution formed in 2024 by merging Interior Savings and Gulf & Fraser. Serving nearly 200,000 members with over 60 branches, it focuses on digital innovation, community-focused banking, and personalized service.

To deliver an exceptional banking experience, BlueShore Financial (now Beem Credit Union) made the strategic decision to move away from a fully outsourced model and adopt the TEMENOS Transact (formerly T24) core banking system. As a result of this shift, the Information Technology (IT) solutions team assumed a level of responsibility it had never held before.

While established partnerships were maintained to manage the payment network and data center, maintain its switch technology and ensure the reliability of the core banking system, the credit union remained responsible for ensuring the seamless functionality and compatibility of all these components. As part of this transition, the IT solutions team was tasked with:

• Guaranteeing a risk-free migration to the new banking platform
• Providing ongoing management of the ATM and POS channels
• Maintaining compliance with all regulatory requirements

In addition, the team needed to improve an existing, resource-intensive fraud identification process. At the time, fraud investigations relied on multiple in-house tools and the manual parsing of bank system logs to isolate potentially fraudulent transactions.

The IT solutions team required a real-time transaction monitoring solution that would help to:

• Quickly identify fraudulent transactions and meet Interac regulatory compliance for POS, ATM and debit card fraud prevention
• Proactively manage and verify the performance of all the payment processing components, without spending significant amounts of time and money on IT and partnership management
• Manage the risk associated with integrating a new banking platform into a 24/7 real-time ATM and POS environment

“Our core business is financial services, not technology. But we needed to help alleviate some of the risks by taking a hands-on approach. Managing an online, 24/7 banking application has huge implications on our customers and partners. Therefore, we need to leverage tools that are proven within this industry to make our transition easier. We require constant assurance that we are up and running, and alerted to issues when they arise so we can resolve them quickly before any impact is felt.”

FORMER DIRECTOR OF BUSINESS TECHNOLOGY, BLUESHORE FINANCIAL (NOW BEEM CREDIT UNION)

INETCO Insight enabled the IT solutions team to configure real-time alerts tied to ISO transaction response codes associated with fraud, a requirement that is necessary to comply with fraud prevention regulations. With the software’s ability to capture, correlate and report on granular transaction details for every payment transaction, the team gained a historical log of granular, correlated transaction data to quickly query and investigate potential fraud and security breaches.

INETCO Insight’s multi-link transaction assembly gives the credit union end-to-end visibility across every payment transaction pathway, making it easy to oversee the performance of all partnership components and proactively isolate problems that may impact customer service levels. Ongoing, 24/7 transaction monitoring also helps the Business Technology team proactively troubleshoot issues and guarantee a smooth integration of new technology, such as the TEMENOS banking platform, without incurring extra resource costs.

With INETCO Insight real-time transaction monitoring the credit union:

• Met regulatory compliance for POS, ATM and debit card fraud prevention
• Saved $100,000+ per year in staffing resources
• Deployed a new banking platform without customer service interruptions
• Gained end-to-end visibility across its co-managed payment processing enviroment – including all third party connections
• Proactively identified suspicious transaction anomalies and performance issues that may affect customer service levels
• Reaped the benefits of new technology integration, with no risk of impact to existing services and no added resource costs

“We couldn’t have joined the Interac network unless we could prove we were able to monitor transactions as per its regulatory guideline. INETCO Insight gave us the quickest and most secure solution. But the INETCO tool surprised us how it also contributed toward our whole strategy in a positive way…”

FORMER CIO OF BLUESHORE FINANCIAL (NOW BEEM CREDIT UNION)