Big News for Canadian Credit Unions: Interac announces integration of IVS on Caspian’s open data platform.
We're thrilled to see the Interac announcement about Interac Verification Service (IVS) now live on Caspian's groundbreaking Open Data Ecosystem Manager, a pivotal first use-case for Credit Unions in Canada. Caspian’s fully FDX compliant platform is a transformational solution designed to eliminate the prohibitive time and cost individual credit unions face when connecting to digital services. Our ecosystem manager makes it easy for all credit unions to access and simply deploy vital use-cases like IVS, and many more to come.
“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. 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 Canadian collaboration significantly:
Simplifies and secures online identity verification for Credit Union members.
Enables complex use-cases through a comprehensive FDX-compliant open banking consent journey, including "one-time" consent for diverse data types and permissions.
Delivers major value-add for Credit Unions from day one, streamlining operations and accelerating deployment.
Showcases successful execution of intricate API calls and unique consent handling.
Enhances security protocols for the wider community through collaborative learning with Interac.
This pivotal launch serves as a testament to the collaborative commitment of Interac, Caspian, CUCC, and the initial participating Credit Union partners, with many more credit unions expected to join in the near future. As Fatema Pirone, Head of Interac Verified, aptly states, this initiative truly "lays the groundwork for future innovations."
For the full details on this exciting announcement, please read the original press release on the Interac news site.
If you’re still on the fence, read our “Top 10 reasons why your credit union needs to embrace open data now!”
