Digital Banking

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Central 1, Vancity and First West credit unions partner to launch enhanced Interac e-Transfer® instant digital payments

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VANCOUVER, B.C., September 8, 2021 – Central 1 Credit Union (Central 1), one of the largest payments processors for Canadian financial institutions and government organizations and payments partner of choice for emerging fintechs, in collaboration with Vancity and First West credit unions has successfully launched the first phase of Interac e-Transfer® for Business. The solution is an enhancement to the existing Interac e-Transfer service that enables the receipt of real-time, account number routed and data-rich transactions.   Vancity and First West Credit Union are...

Easing COVID-19 Pains for Small Businesses

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CHALLENGES With early recovery now in play, it’s important to examine the needs of small businesses in the Canadian market. Labour Force Survey estimates indicate that small establishments employed about 65% of Canadians in 2019, indicating them as a significant backbone of our economy. Now that businesses are in the process of reopening, there are new challenges to face. As we often like to do when we’re developing products...

Pathwise Credit Union swiftly elevates digital banking presence with Forge and The Agency at Central 1

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The Forge Digital Banking Platform has been essential in bringing Canadian financial institutions to the forefront of enhanced digital banking. One question clients frequently ask us is how to bring their new digital experience to market quickly, especially when they have several strategic priorities competing for their time and attention. With excitement building to debut their new brand, Pathwise Credit Union (Pathwise) found its answer by partnering with The...

Coming Together as One to Support Small Businesses with the CEBA Application Form and Processes

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As COVID-19 continues to present new challenges, I am encouraged to see how we are navigating this together as a community and continuing to support one another in innovative ways. Credit unions are some of the top financial institutions used by small businesses in Canada, with 97.9% of all Canadian businesses being classified as small businesses[1]. As many small businesses...

Central 1 delivers CRA Direct Deposit via Financial Institutions service to our clients in record time

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The COVID-19 pandemic is an unprecedented situation; one in which credit unions and other financial institutions have come together to create a solution that will help Canadians access much-needed funds during a time of crisis. On March 26, Central 1 was approached by the CRA and Payments Canada to help implement a system-wide initiative to drive the adoption of direct...

Five ways to increase your mobile app rating

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Almost 80 per cent of Canadians are now using online and mobile for their banking transactions and 19 per cent have reported being “not at all satisfied” with their banking apps, according to the Canadian Banker’s Association ‘How Canadian’s Bank’ survey (March 2019). As digital banking becomes more prevalent, customer reviews on the App Store and Play Store – and how we respond to them – are...

The stats show credit unions want to digitally transform to attract tech-savvy customers

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Credit unions have the opportunity to attract customers who don’t necessarily feel at home with their bank provider (think small business owners, freelancers, or millennials who – according to reports such as the Forbes’ Consumer Technographics® data – are actively considering company values and social responsibility when making a purchase.) We’ve kept this in mind as we created our new digital banking platform (called Forge), which will keep credit unions constantly on...

Forging a new path in Digital Banking Experiences

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In 2019, we celebrated many milestones for Central 1, our champions, clients and the Forge tribe. For those of you who don’t know, the Forge slogan is “digital banking re-invented”, and we finally saw this come to life last year. By the summer of 2019, we launched all three Forge Retail products into market - the public website, mobile banking...