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Canadian credit union Vancity signs seven-year deal with Intellect design Arena

Source: Intellect Design Arena

Intellect Design Arena Ltd, a cloud-native, future-ready, multi-product Financial Technology company for the world’s leading banks, credit unions and insurance companies, announces a pioneering partnership with Vancity, Canada’s largest community credit union.

This seven-year deal will see Vancity harnessing Intellect’s Digital Engagement Platform (DEP) for Retail & SME digital experience alongside Contextual Banking Experience (CBX) for Commercial digital experience.

With over 570,000 members and $35.5 billion in assets under administration, Vancity is set to redefine the digital landscape for its Retail, SME and Commercial members through this collaboration. The transformation will span engagement across Onboarding, Account Services (Current & Savings Accounts), Payments & Transfers, Cards, Digital Lending and Back Office. The deployment of DEP and CBX will be facilitated on a fully managed cloud platform, highlighting a strategic move towards scalable and secure digital member experiences.

Composed with eMACH.ai, DEP & CBX together will enable Vancity to:

Offer comprehensive banking & lifestyle services including retail onboarding in minutes and SME onboarding in a day, personal financial management and social banking
Utilise a comprehensive set of user journeys or curate new ones from scratch in a codeless manner to meet the evolving needs of retail and SME members.
Provide complete visibility of member portfolios through intelligent dashboards and insights

Rajesh SaxenaRajesh Saxena, Chief Executive Officer, Intellect Global Consumer Banking (iGCB), Intellect Design Arena Limited, said, “We are thrilled to join hands with Vancity, a respected leader in the credit union space. This collaboration is a testament to our shared vision of delivering exceptional member experiences through innovation and digital transformation and our commitment to the Canadian market. Our DEP and CBX platforms are designed to cater to the dynamic needs of modern financial institutions, and we’re excited to see how this partnership will enable Vanity’s offerings. This partnership is not only a pivotal moment for Intellect and Vancity but also sets a new benchmark in digital banking innovation, showcasing the potential of strategic collaborations in creating enhanced value and experiences for credit union members worldwide.”

“At Vancity, we have been searching for the right partner to help us revolutionise our digital platforms and enable us to deliver our impact-focused, values-driven products and services to our members through a modern, intuitive and seamless digital experience,” said Wendy Murphy, Chief Technology Officer, Vancity. “We feel we’ve found the right partner in Intellect Design Arena, and a technology partner that understands our needs and will enable us to deliver on our commitment to meet and exceed our member expectations.”

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