Canada’s Vancity taps Intellect Design Arena for digital engagement upgrade
Vancity, claimed to be Canada’s largest community credit union, has signed a seven-year agreement with Indian software giant Intellect Design Arena to leverage several of the vendor’s digital banking solutions.
Vancity joins hands with Intellect Design Arena
The credit union is to deploy the vendor’s Contextual Banking Experience (CBX) offering to upgrade its commercial digital operations, as well as its Digital Engagement Platform (DEP) to enhance its digital services for retail and small and medium-sized enterprises (SMEs).
With the implementation of the two solutions, enabled by a fully managed cloud platform, Vancity’s digital transformation efforts are expected to encompass engagement across payments and transfers, cards, onboarding, back office, current and savings accounts and digital lending.
Moreover, Intellect claims that its solutions will enable its partner to onboard SMEs “in a day”, accompanied by a range of personal financial management tools.
Vancity currently serves over 550,000 “member-owners” across the Coast Salish and Kwakwaka’wakw territories in Canada, operating over 54 branches with $35.5 billion in assets under administration.
At the beginning of the year, the credit union appointed Wellington Holbrook as its new president and CEO. Holbrook took over from Nez Aquino, who had served as interim CEO since July 2023.
