Partnership with Financial Institutions to Deliver Open Banking Solution

Five major Canadian credit unions have partnered with Caspian One to leverage open banking technology on a large scale, marking a significant commitment to provide enhanced services to their members. The collaboration follows the selection of Caspian One by the Large Credit Union Coalition (LCUC) to deliver the Credit Union System Open Banking Solution in June 2023.

Caspian One’s digital platform facilitates secure data sharing, offering a provider and consumer model for financial innovation. The platform includes a consent lifecycle management model and shared-service operations and support group to drive innovation that supports members’ financial health.

This partnership represents a departure from traditional legacy platforms, focusing on secure API-driven data sharing that enables both point-to-point connectivity and the development of multiple partnerships. The goal is to deliver value-added services to members and attract new members to the credit union system, ultimately promoting financial well-being among Canadians.

The credit unions involved, including First West, Prospera, Meridian, Affinity, and Libro, are enthusiastic about the potential of open banking to transform their services. By collaborating with Caspian One, they aim to provide leading technology and enhanced banking experiences to their members.

“This collaboration underscores our commitment to empowering credit unions with cutting-edge technology. Together, we are shaping the future of banking and revolutionizing the way financial services are delivered,” said Lewis Poe, CTO of Caspian One Open Banking.

Overall, the partnership between Caspian One and these five credit unions represents a significant step forward in delivering advanced financial services and enhancing member experiences in the Canadian credit union industry.

spot_img

More from this stream

Recomended

Celebrate the Earth in April with Brochu Walker

April is officially Earth Month, and what better to mark the month than with the super-chic, conscious luxury brand, Brochu Walker? Here’s the low-down on this...

CEO Discusses Q1 Results: Strong Performance with 16% Increase in Net Income

Article 0 Comments The Travelers Companies, Inc. today reported first quarter net income of $1.123 billion, up 16% compared to $975 million in the prior year quarter. Core income in the current...

Choosing the Best CFO Executive Search Firm for Your Business

If the past year has taught us anything, it’s that leadership matters. This is especially true among companies in the Digital Health, Life Sciences, FinTech, and Software & Technology sectors with the myriad challenges and opportunities presented by the pandemic. Whether you are bolstering your C-suite to support continued success and growth or seeking executives […]

The post Selecting the Right CFO Executive Search Firm for Your Company appeared first on Insights Success.

‘ProCook joins forces with Food Cycle charity’

Kitchenware brand ProCook has announced a new partnership with Food Cycle, a UK charity that aims to alleviate food poverty, loneliness and food waste through community dining. The move...

‘Leading VC Firm Raises .2Bn with Focus on AI Industry’

Andreessen Horowitz, a prominent Silicon Valley venture capital group led by veteran tech investors Marc Andreessen and Ben Horowitz, has successfully raised $7.2 billion for investment in tech startups, marking one of the largest fundraising efforts by a venture capital firm in recent years. The funds will be allocated across various new funds, including those […]

The post Silicon Valley VC- Andreesan Horowitz Secures $7.2Bn Focusing on AI Industry appeared first on Insights Success.

‘1GW HyFuels renewable energy portfolio acquired by Nova Clean Energy’

HyFuels comprises wind and solar development projects in mid-to-late-stages alongside an earlier stage green ammonia project, all located on the Texas Gulf Coast Nova Clean Energy has acquired a...