VeriPark, an omnichannel customer experience solutions provider for financial services, has joined forces with a coalition of Canadian credit unions and financial institutions to transform digital banking.
The coalition, which includes First West Credit Union, Prospera Credit Union, DUCA Credit Union, and Coastal Community Credit Union, is set to introduce a tailored digital banking product designed specifically for Canadian consumers.
This initiative aims to enhance member experiences, drive innovation, and empower institutions to navigate the dynamic financial landscape effectively.
The proposed digital banking platform will combine global expertise with Canadian-focused requirements, enabling institutions to maintain their unique identities while developing customised features that set them apart in the market.
First West Credit Union chief information officer and chief technology officer Darrell Jaggers said: “The partnership with VeriPark represents a uniquely Canadian solution that combines local expertise with global best practices.
“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.”
According to VeriPark, it was selected for its Canadian-centric product development, security and compliance measures, support for open banking frameworks, and dedication to providing ongoing managed services.
The platform is powered by Microsoft Azure, which guarantees scalability, operational efficiency, and long-term adaptability.
The solution combines with Central 1’s payment and fraud management systems, while also supporting compatibility with other payment platforms.
By leveraging this solution, coalition members gain several advantages, including access to a Canadian-focused digital banking platform enhanced with global best practices.
The platform also enables these institutions to remain competitive with larger financial players while preserving their independence.
Additionally, the solution’s capabilities have been validated through a rigorous year-long assessment process, ensuring that it delivers innovation and long-term support through Microsoft’s advanced technology stack.
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.”
In June last year, VeriPark announced a partnership with analytics software company FICO to modernise financial services through artificial intelligence (AI)-driven decision-making and digital transformation.
This collaboration focuses on promoting financial inclusion and advancing digital banking across regions, including Turkey, the Middle East, Africa, Asia, and the CIS.
