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 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.