Central 1 Credit Union to revamp digital banking platform with Backbase
Central 1 Credit Union, a software and services provider to 300 financial institutions in Canada, will overhaul its MemberDirect digital banking platform with Backbase’s tech.
This is the first known deal for the Dutch vendor in Canada.
Backbase says its omnichannel platform was chosen “after a competitive selection process”. The vendor adds that its “expertise in delivering an omnichannel customer experience, as well as the flexibility of the platform which could integrate into Central 1’s existing architecture” were the main drivers behind the decision.
Oscar van der Meer, CTO at Central 1, believes the partnership will “accelerate Canadian credit unions towards a leadership position in the digital space”.
Central 1’s customers operate across 870+ branches, serving 3.3 million members across the country and holding more than $112 billion in assets.
In addition, Central 1 is the primary liquidity manager, payments provider and trade association for its 42 member credit unions in British Columbia and 70 Ontario member credit unions.