Intellect Design partners with 35 Canadian credit unions for digital boost

Intellect Design Arena Inc announced partnerships with 35 Canadian credit unions across eight provinces, according to an exchange filing by Intellect Design Arena Ltd on December 15. The company said the credit unions collectively manage over $13 billion in assets under administration and serve more than 373,000 members.

The partnerships have been signed through four strategic agreements with Bulkley Valley Credit Union, Kindred Credit Union, Rosenort Credit Union, and League Data, which represents 32 credit unions. As part of the agreements, Intellect will collaborate with these institutions to advance digital capabilities across onboarding, account services including chequing and savings accounts, payments, and member service.

Intellect said the credit unions will use its eMACH.ai Digital Engagement Platform to provide digital banking experiences to retail and small business members. The company stated that the platform will support member onboarding, digital self-service, and operational processes on a SaaS-enabled model.

The shares of the company ended 0.3% in the red on Monday, December 15.

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