Central 1 Credit Union partners with GEP to unify sourcing, contracting, and supplier management using a new AI-enabled Source‑to‑Pay platform, aiming to enhance transparency and accelerate workflows across its operations.
GEP has been chosen by Central 1 Credit Union to consolidate the co‑operative lender’s procurement, contracting and supplier management onto a single, AI‑enabled Source‑to‑Pay and contract management platform, the company said in a state...
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ment. The solution is intended to centralise sourcing and purchasing workflows, increase transparency across spend categories and speed contract lifecycles through automation.
Central 1, which provides payments, treasury, clearing and settlement services to Canadian credit unions and challenger banks and reported assets of $9.5bn at the end of September 2025, said the move forms part of an effort to tighten governance and extract greater value from procurement activity across its operations. GEP described the deployment as delivering integrated visibility, compliance controls and analytics intended to drive productivity and reduce risk.
The vendor’s product set combines its unified procure‑to‑pay suite with a cloud‑native supply‑chain and sustainability module and an AI layer GEP markets as “agentic”. The company claims the platform supports rapid integration with major enterprise resource planning systems and offers configurable guided‑buying and collaboration features to increase adoption among business users.
The announcement follows recent wins for the same supplier in the cooperative and credit‑union sector, underscoring a broader trend among financial co‑operatives to replace legacy, fragmented purchasing systems with consolidated cloud solutions. Industry materials from the vendor highlight capabilities such as spend analysis, supplier repositories and multi‑regional purchasing support as drivers for such moves.
Independent observers caution that enterprise procurement transformations frequently face challenges in change management, data quality and supplier onboarding that can delay expected returns. Analysts say realising benefits from AI‑driven procurement tools typically requires sustained investment in process redesign and governance to ensure data feeding the models is accurate and complete.
Central 1 and GEP indicated the partnership will progress through phased implementation across sourcing, contracting and purchasing functions; the company said the rollout is designed to accelerate workflows and surface data‑driven opportunities for supplier collaboration and cost management.
Source: Noah Wire Services
