January News: Changes in Canadian Digital Banking and Tech Trends; InfoLend early access program; Beta Launch of InfoAcademy and Welcoming New Talent
Tech Trends
How MFA is revolutionizing security for credit unions 💻
In today's digital landscape, credit unions face increasing cyber threats, making robust security measures essential. Implementing Multi-Factor Authentication (MFA) is a critical step in safeguarding sensitive member information. MFA adds an extra layer of security by requiring users to provide multiple forms of verification before accessing accounts, significantly reducing the risk of unauthorized access. Despite its proven effectiveness, many organizations have yet to adopt MFA, leaving them vulnerable to attacks. By embracing MFA, credit unions can enhance their security posture, protect member data, and maintain trust in their services. Read the full article here
Industry News
Central 1 transfers digital banking operations to Intellect Design Arena Ltd.
The Canadian credit union landscape is undergoing a significant transformation! Central 1 has announced the transfer of its Digital Banking Operations to Intellect Design Arena Ltd., a global leader in financial technology solutions.
This move marks a pivotal shift in the digital banking ecosystem, enabling credit unions to leverage Intellect’s advanced capabilities and proven expertise in delivering scalable, cutting-edge digital banking platforms. By transitioning these operations, Central 1 aims to empower credit unions across Canada to enhance their member experience while keeping pace with the rapidly evolving financial services industry.
For credit unions, this change signals a new era of opportunities for growth, innovation, and member engagement through advanced digital tools and services. As Intellect Design steps into this role, their global reputation and commitment to innovation will undoubtedly reshape the future of digital banking for credit unions of all sizes.
This development is an exciting step forward for the industry, and we’ll be closely watching how this partnership unfolds. To learn more about this ground-breaking announcement, read the full details here: Central 1 Press Release.
Stay tuned as we continue to share insights on how these changes will shape the digital banking landscape!
Infonancial Insights 💡
Streamlining compliance: How Infonancial's EDC solution supports credit unions
Credit unions in Ontario are facing new, complex reporting requirements from the FSRA. To support them, Infonancial developed the FSRA Enhanced Data Collection (EDC) solution. This tool automates much of the data collection process, reducing manual work, improving accuracy, and lowering compliance costs—especially for small to medium-sized credit unions.
Learn how Infonancial's EDC solution is leading the way in regulatory innovation and simplifying compliance for our partners. Read the full article here 🚀
Product Updates
InfoCore upgrade rollout begins for credit unions
The latest InfoCore Operating System upgrade is officially rolling out to Credit Unions. This update brings enhanced security, improved accessibility, and greater flexibility to your operations.
With this upgrade, Credit Unions now have the option to:
Opt into the InfoAnywhere Interface – A streamlined, user-friendly experience designed to improve navigation and efficiency.
Enable Multi-Factor Authentication (MFA) – Strengthen account security with an extra layer of protection for members and staff.
As the rollout continues, we encourage Credit Unions to explore these new features and consider enabling them to enhance their digital banking experience. Stay tuned for further updates, and reach out to our support team with any questions.
For more information or assistance, contact us at support@infonancial.com
Oshawa Credit Union joins InfoLend early access program
We’re excited to share that Oshawa Community Credit Union has officially joined the InfoLend Early Access Program! This program allows them to onboard ahead of schedule and start experiencing the re-imagined InfoLend before its full launch.
By joining early, Oshawa gains immediate access to the enhanced platform and its powerful new features, helping shape the future of lending technology. Stay tuned—the official launch is right around the corner, and we can’t wait to bring InfoLend to more credit unions soon! 🚀
Customer Success
Beta Lauch of InfoAcademy
We’re excited to announce the Beta Launch of InfoAcademy, a groundbreaking step toward providing our customers with engaging, standardized training resources for Infonancial products!
In 2024, we partnered with LMS MyQuest, a leader in learning management systems, to develop a series of informative, standardized, and interactive training modules. These modules are designed to make learning about Infonancial products easy, enjoyable, and effective. From detailed FAQs to step-by-step guides, InfoAcademy offers a streamlined way for users to deepen their knowledge and maximize the value of our products.
The beta launch of InfoAcademy in January coincided with the InfoLend Beta launch, providing our customers with a dual opportunity to explore both our innovative lending platform and the powerful training tools designed to support its use.
We’re thrilled to provide this added layer of support for our customers, and the feedback we’ve received so far has been overwhelmingly positive! InfoAcademy reflects our commitment to empowering customers with the knowledge and tools they need to succeed in today’s fast-paced financial landscape.
Stay tuned as we continue to enhance InfoAcademy with additional content and expand its capabilities.
Client Spotlight
Fort York Community Credit Union
At Infonancial, we are proud to support organizations that prioritize their communities and members. This month, we’re excited to feature Fort York Community Credit Union in our Client Spotlight!
Located in Toronto, Fort York Community Credit Union has been serving its members with dedication and care since 1944. Built on the principles of cooperation and financial empowerment, Fort York is committed to providing a safe, reliable, and trusted financial environment for its members.
As a community-based credit union, Fort York offers a wide range of financial services, including savings and chequing accounts, loans, mortgages, and wealth management solutions. Their mission is clear: to help members achieve financial success through personalized service and innovative solutions while supporting the local community.
Fort York sets itself apart with its member-first philosophy, ensuring that decisions are made in the best interest of its members. They are not just a financial institution—they are a partner in helping members achieve their financial goals. Fort York also takes pride in fostering financial literacy and inclusion, creating opportunities for members to grow and thrive.
In collaboration with Infonancial, Fort York is investing in state-of-the-art digital banking technologies to meet the evolving needs of its members. This partnership supports their ongoing commitment to providing easy, secure, and seamless access to financial services while staying true to their values of trust and community.
To learn more about Fort York Community Credit Union’s remarkable history and commitment to its members, visit their website at fortyork.com.
We’re honored to partner with organizations like Fort York, who continue to make a meaningful impact in their communities. Stay tuned for more Client Spotlights to see the incredible work being done by our partners!
What’s New at Infonancial?
Growing our Team! 🎉
As we continue to expand in 2025, we’re excited to welcome even more new talent to the Infonancial team!
We’re thrilled to introduce Gateek Chandak, who joins us as a Software Development Co-Op. Gateek brings a unique blend of technical expertise and financial knowledge, making him a great addition to our team. He’ll be working with the InfoLend team, playing a key role in supporting the platform throughout the year.
We’re also pleased to welcome Harsimran Kaur as our new Senior Accountant. With a wealth of experience in accounting and financial operations, Harsimran will be instrumental in strengthening our financial processes, supporting audits, and ensuring smooth operations as we continue to grow.
We’re excited to have Gateek and Harsimran on board and can’t wait to see the impact they’ll make. Welcome to the team!