Interac, Canadian Credit Unions and Caspian One Open Data Partner to Expand Secure Digital Verification for Canadians

TORONTO, June. 26, 2025  – Interac Corp. (Interac) is expanding the Interac verification service through a new collaboration with Caspian One Open Data Limited (Caspian), CUCC, and participating credit unions. Through the integration of the Interac verification service, credit unions can unlock new opportunities for growth, enhance member loyalty, and contribute to a more robust and innovative financial ecosystem.

Interac verification service, part of the Interac Verified™ suite of solutions, now allows participating credit unions to streamline customer onboarding. This innovative solution allows organizations to digitally verify new customers by connecting a customer’s existing secure online banking login with a participating Canadian financial institution, eliminating the need for manual verification. This collaboration, supported by Caspian’s open data platform and enabled through CUCC ‘s program governance model, introduces a scalable and inclusive solution for digital verification and brings trusted digital services to more Canadians.

Caspian’s open data platform streamlines integration for credit unions by reducing costs and complexity and enabling faster deployment of the Interac verification service. In addition, CUCC’s governance and operating model brings together diverse credit unions under a shared framework, providing them with oversight of the solution.

“Interac is committed to fostering a secure and inclusive digital ecosystem for all Canadians. This collaboration provides credit unions with a powerful opportunity to deliver exceptional customer experiences while streamlining their operations and enhancing their digital security,” said Fatema Pirone, Head of Interac Verified.  “The expansion of services lays the groundwork for future innovations, involving both the Interac verification service and Interac Verified credential service, which will further enhance accessibility and convenience for members.”

Organizations adopting the Interac verification service include First West Credit Union, Prospera Credit Union, Affinity Credit Union, Libro Credit Union, Meridian Credit Union, and Uni Financial Cooperation, with plans to welcome additional credit unions in the near future. 

“Our successful integration of the Interac verification service is a big step forward in how we help credit unions serve their members. It means faster, smoother onboarding and secure identity verification—something that makes a real difference for members,” said Lewis Poe, Chief Executive Officer at Caspian. “Our capabilities help credit unions make those first interactions easy and intuitive, opening the door to a wave of innovation and a more seamless digital experience.”

This adoption milestone highlights the credit union sector’s collective drive to modernize member experiences through trusted digital verification—laying the groundwork for broader innovation across Canada’s financial ecosystem.

“CUCC is pleased to partner with credit unions of all sizes in bringing the Interac Verified solution to their members.  Our goal is to empower credit unions by putting them in the driver’s seat—ensuring they have real decision-making authority in the programs we support,” said Drew Wilczynski, Executive Director CUCC.  “The successful launch of this initiative is a testament to the collective effort and shared vision of credit unions and our valued partners.”  

The collaboration underscores the commitment of Interac, Caspian, CUCC, and participating credit unions to building a more secure and prosperous digital future for Canadians. For more information, visit https://www.interac.ca/en/verification/personal/verify-yourself-using-document-verification/.

Quotes from participating credit unions

“We’re proud to join the Interac verification service network, empowering our members to securely access a growing range of digital services using their trusted Prospera online banking credentials. This collaboration with Interac and Caspian allows us to deliver seamless, secure, and convenient digital experiences—whether it’s opening new accounts, applying for financial products, or accessing government services. It’s a key step in our journey to support members in a digital-first world and to actively participate in Canada’s evolving consumer-directed banking framework in 2026 and beyond.”

– Greg Dyck, Chief Digital and Information Officer, Prospera Credit Union.

“Collaboration is at the heart of who we are as a leading Canadian financial cooperative. By partnering with innovative credit unions and fintech’s, we’re delivering more personalized digital banking experiences that reflect our members’ evolving needs. This initiative lays the groundwork for more seamless, integrated financial services—giving members greater control over their data. We hope the expansion of the Interac verification service (IVS) network encourages others to explore the powerful potential of open data solutions.”

– Darrell Jaggers, Chief Transformation Officer, First West Credit Union.

“We’re thrilled to partner with Interac Verified and other participating Canadian credit unions, as it highlights our collaborative commitment to providing secure and seamless financial services to members. This will enhance our ability at Affinity Credit Union to offer innovative solutions, ensuring that our members can conduct transactions with confidence and ease. Together with Interac Verified, we’re setting a new standard for security and convenience in the credit union sector.”

-Mike Elchuk, Chief Information Officer, Affinity Credit Union.

“At Libro, we’re focused on building exceptional digital experiences for everyone we support. Interac Verified lets our owners access services and information faster, using their trusted digital banking credentials without paperwork or in-person delays. It’s about empowering people to move securely and confidently in a digital world and that aligns well with our work strengthening financial well-being. And it positions us strongly for the future, with readiness for a world of open data, and for consumer-driven banking when federal legislation comes into force.”

– Chris Palmer, Chief Information and Technology Officer, Libro Credit Union.

“At UNI Financial Cooperation, we firmly believe that innovation is driven by collaboration. By joining the Interac Verified network, we are strengthening our commitment to providing our members with secure, simple, and accessible digital services. This initiative reflects our vision of building a future where digital trust and personal data empowerment are at the heart of the financial experience.”

– Éric St-Pierre, Chief Executive Officer, UNI Financial Cooperation.