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Plumery expands digital banking platform for Canadian credit unions
Yahoo Financeยท 2025-10-06 11:32
Core Insights - Plumery has launched new features and integrations for credit unions in the Canadian market following Central 1 Credit Union's decision to phase out its Forge digital banking platform, which served over 170 credit unions across Canada [1][3] - The partnership with Aequilibrium aims to align the platform with the banking habits and expectations of Canadian credit union members, offering a suite of banking features tailored to Canadian users [2][4] Product Features - The platform includes essential banking functionalities such as bill payments, cheque deposits, and Interac e-Transfers, along with support for Canadian financial products like Guaranteed Investment Certificates (GICs), mortgages, and student loans [2][4] - Business banking tools are also available, including bulk payments and payroll management, enhancing the platform's utility for credit unions [2] Compliance and Availability - Plumery's platform adheres to Canadian standards, featuring bilingual support in English and French, and complies with privacy and data residency requirements [3] - The platform is currently operational, with ongoing discussions with credit unions to evaluate their digital strategies beyond the Forge system [3] Strategic Vision - Plumery's CEO emphasized the opportunity for Canadian institutions to modernize independently from outdated systems, positioning their platform as a future-ready option that empowers credit unions [4] - The integration of Salt Edge's open banking gateway into Plumery's platform provides users with real-time access to account information and payment services across an international banking network [4]