VeriPark, an omnichannel customer experience solutions provider, has collaborated with a coalition of Canadian credit unions and financial institutions to launch a digital banking solution specifically designed for the Canadian market.
This coalition comprises First West Credit Union, Prospera Credit Union, DUCA Credit Union, and Coastal Community Credit Union.
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It seeks to foster innovation, improve member experiences, and strengthen institutions’ ability to navigate an evolving financial landscape.
The coalition aims to deliver a Canadian-focused digital banking product that integrates global and Canadian codebases.
This approach will allow institutions to retain their unique identities and develop further features to stand out in the market.
First West Credit Union CIO and CTO Darrell Jaggers said: “The partnership with VeriPark represents a uniquely Canadian solution that combines local expertise with global best practices.
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By GlobalData“Our goal is to build on our successes and provide members with even more innovative, personalised digital banking services that align with their evolving lifestyles.”
Tailored for Canadians, the digital banking solution is powered by Microsoft Azure.
Promising ‘adaptability’ as well as ‘efficiency’, it looks to provide enhanced security, compliance, and support for open banking frameworks.
In addition to integrating with Central 1’s payment and fraud management systems, the solution is designed to be compatible with various payment platforms, offering flexibility to the participating institutions.
The solution has been validated by a year-long assessment, ensuring that it will provide innovation and long-term support through Microsoft’s technology stack, the company said in its statement.
VeriPark chief sales officer Barry Frame said: “The financial services sector is constantly evolving, and this partnership offers a unique opportunity to shape the future of digital banking in Canada.
“By combining VeriPark’s expertise with the coalition’s forward-thinking vision, we are confident in delivering a transformative banking experience for Canadians.”
