Intellect Design Arena Ltd, a leading financial technology company, has entered into a significant seven-year partnership with Vancity, Canada’s largest community credit union, to enhance digital banking services for its Retail, SME, and Commercial members. This collaboration aims to leverage Intellect’s cutting-edge Digital Engagement Platform (DEP) and Contextual Banking Experience (CBX) to transform Vancity’s digital capabilities.

With more than 570,000 members and $35.5 billion in assets under administration, Vancity is poised to redefine its digital landscape across multiple service lines, including onboarding, account services, payments and transfers, cards, digital lending, and back office operations. The implementation of Intellect’s DEP and CBX platforms will be carried out on a fully managed cloud platform, emphasizing a scalable and secure approach to digital member experiences.

The integration of DEP and CBX, powered by eMACH.ai, will enable Vancity to offer an array of banking and lifestyle services. These include quick retail onboarding—achievable in minutes—and efficient SME onboarding within a day. Additionally, the platforms will provide personal financial management and social banking capabilities, allowing Vancity to meet the evolving needs of its members through adaptable, codeless customization of user journeys.

The partnership will also equip Vancity with tools to provide comprehensive visibility of member portfolios through intelligent dashboards and insights, thus enhancing decision-making and member engagement.

Rajesh Saxena, Chief Executive Officer at Intellect Global Consumer Banking (iGCB) of Intellect Design Arena, expressed enthusiasm about the collaboration, stating, “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.”

Wendy Murphy, Chief Technology Officer at Vancity, highlighted the credit union’s goals for the partnership: “At Vancity, we have been searching for the right partner to help us revolutionize 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,” she noted. “We feel we’ve found the right partner in Intellect Design Arena.”

This partnership is expected to set new benchmarks in digital banking innovation, showcasing the potential of strategic collaborations to create enhanced value and experiences for credit union members globally. It marks a pivotal moment for both Intellect and Vancity, promising substantial advancements in how digital banking services are delivered and experienced.

  banking innovation, cloud platform, digital banking, digital transformation, financial technology, Intellect Design Arena, Vancity