VeriPark, a global leader in digital banking and customer experience solutions, today announced a strategic partnership with Caspian One Open Data, a pioneer in open data infrastructure and open banking acceleration.

Caspian One Open Data has entered into a strategic partnership with Collabria, establishing a new, more streamlined approach to how credit unions can access and integrate credit card data within their digital environments.

Are credit unions mandated to participate in Canada’s consumer-driven banking framework?

No. Under the proposed framework, participation is mandatory for designated large banks, but credit unions can choose to opt in. To participate, they must become accredited and comply with the framework’s technical, security and governance requirements.

CGI has entered into a strategic partnership with Caspian One Open Data to help Canadian credit unions prepare for open banking implementation.

We are incredibly proud to announce that our CEO, Lewis Poe, has been voted onto the Financial Data Exchange (FDX) Board of Directors. 

Canada’s open banking framework is approaching, but adoption will depend on more than regulation. The UK’s “Pay by Bank” journey shows how terminology, consumer understanding, and real-world use cases can shape behaviour.

The Competition Bureau of Canada’s report on data portability positions switching and consumer savings as the primary outcomes, particularly in insurance. This article explores why that framing is only the beginning, and how, when treated as platform infrastructure, data portability can unlock ecosystem participation, operational efficiency, and new value creation across financial services and beyond.

For decades, banks and credit unions have operated as linear pipelines. But as behaviour shifts into platform ecosystems, value creation is moving from chains to networks.

As we look toward 2026, there is a palpable sense of anticipation within the Canadian Credit Union system. At Caspian One Open Data, we are entering the new year with a clear mission: ensuring that by joining our ecosystem, Canadian Credit Unions are no longer forced to use 2020 technology to solve 2026 problems.

2025 was the year our vision for Open Data gained real-world velocity. We transitioned from conceptualizing ecosystems to operationalizing them, bridging the gap between global discourse in Frankfurt and the practical needs of credit unions in Canada. The future we’ve been discussing is no longer on the horizon; it’s live. 

Libro Partners with Caspian One Open Data and Interac to Deploy New Open Data Identity Verification, Positioning Libro for Future Innovations.

The Credit Union understood that modern banking isn't confined to a branch or a desktop. By implementing Call Center Verify (CIBA), they didn't just upgrade their call center; they established a foundation for consistent, financial-grade security across their entire enterprise, empowering members like Sarah to bank with confidence. 

Money itself is a story of convenience and people don’t stay loyal to ‘channels’, they think about getting things done, and throughout financial history that means showing up where life happens. 

The future of Credit Union member acquisition is invisible and effortless. By adopting Embedded Finance and leveraging Open Data to establish FDX-compliant partnerships, CUs can move from reactive selling to proactive, seamless service—a world where the next generation walks in with their coffee, not their paperwork.

For credit union executives and strategic leaders in the credit union system, the natural next question is the most important one: How do we get there, leveraging open data, without multi-year, multi-million-dollar IT projects? 

Canada's financial services are set for a major transformation. Budget 2025 has laid out the most concrete details yet, committing to a complete and accelerated rollout of Consumer-Driven Banking (CDB)—a term for Canada's Open Banking.

3 hot topics that dominated conversations at Money20/20 Vegas after the lights went down.

NestEgg is the number one provider of loan decisioning in the UK credit union system, a market that has already successfully implemented Open Banking. They currently work with 50+ UK credit unions, powering over 750,000 loan applications by leveraging both open data and traditional credit data.

George Sr., a 61 year old local farmer, values the simplicity of a straightforward deal. However, to get the newest equipment the farm needs, he faces a process that historically meant frustrating delays and a second journey to the credit union after visiting the agriculture equipment dealership.

George Jr. spends his days fixing engines, managing inventory, ordering parts, and leading a team of 6. He’s been a loyal credit union member for years. But running a business means paperwork, and George ends up buried in receipts, reconciliations, and outdated tools that slow him down.