- Canadian financial institution Innovation Credit Union (ICU) teamed up with digital banking solutions provider VeriPark to launch a new digital banking experience.
- VeriPark made its Finovate debut in 2019 at our Dubai conference, FinovateMiddleEast.
- With more than 57,000 members, ICU is the third largest credit union in the province of Sasakatchewan.
VeriPark, a London-based digital banking solutions provider that made its Finovate debut at FinovateMiddleEast in Dubai in 2019, has been selected by Canada’s Innovation Credit Union (ICU) to help it launch a new digital banking experience.
“Innovation has grown to become one of the leading credit unions of Canada,” Innovation Credit Union CEO Daniel Johnson said. “With this enhanced simplified look, our goal was to modernize our visual identity and further align to our purpose of simplifying banking for our current and future members.”
ICU will deploy VeriPark’s VeriChannel internet banking and mobile banking solutions, enabling the Saskatchewan-based credit union’s 57,000+ members to enjoy omni-channel banking experiences with seamless, multi-device functionality. The new platform provides a more convenient digital banking experience along with a new and improved website and a mobile app that is both faster and more intuitive. Savings and mortgage calculators are among the tools available with the new offering, along with other features to help members open and manage their accounts, transfer money, and track requests.
The partnership with VeriPark is no small matter for ICU, which described the collaboration as part of its goal of becoming Canada’s first fully digital credit union. Founded in 2007 by way of a merger between Southwest Credit Union and BCU Financial, ICU is the third largest credit union in the province and the 21st largest credit union in the country with more than $2.4 billion in assets. The institution began its journey to became the third, federally-regulated credit union in Canada after 82% of its members voted in favor of a special resolution in 2017 promoting federalization. This move will enable the credit union to operate nationwide and fulfill its goal of bringing “responsible banking to all of Canada.”
Founded in 1998, VeriPark maintains offices in the U.K., the U.S., Europe, Asia, Africa, and the Middle East. The company’s technology helps businesses improve customer acquisition, retention, and cross-selling capacities with the goal of guiding financial institutions on their digital transformation journeys. With secure and scalable solutions for customer engagement, omni-channel delivery, branch automation, loan origination, and more, VeriPark leverages Microsoft’s cloud platforms and Microsoft Dynamics 365 to serve customers in more than 30 countries around the world.
VeriPark began the year earning recognition from Gartner in its 2022 Market Guide for Digital Banking Multichannel Solutions. Last fall, the company leveraged the Microsoft Cloud for Financial Services to create three new apps: a complaints and service requests solution, a financial transactions app, and a Customer 360 app that provides insights into customer balances, transactions, utilized solutions, and more. Özkan Erener is CEO.
Photo by Brett Sayles from Pexels