Valeyo and Innovation announce strategic partnership to advance digital lending for financial services providers

2020-01-23  |  Toronto, Ontario

Valeyo, a leading solutions provider to the financial services industry, and Innovation Credit Union, headquartered in Saskatchewan providing a full range of financial services and intending to expand as a federal player across Canada, have announced a strategic partnership to accelerate the development of Valeyo’s proprietary digital lending and credit management platform for credit unions and financial services providers.

The partnership aligns with Valeyo’s multi-million dollar investment in technology by parent company Securian Financial Group,  and their strong focus on leveraging 40 years of lending domain knowledge with the modernization of their technology towards an API model. This strategy supports plug and play third-party integrations and a seamless digital lending experience online, mobile and in-branch.

“Innovation Credit Union is aggressively pursuing a digital strategy to expand our business and capabilities in online and mobile lending as we look to grow across the province and eventually Canada as a Federal credit union”, says Dean Gagne, Chief Disruption Officer at Credit Union. “We are fully aligned with the vision and technology roadmap designed by the Valeyo team and are excited to be partnering with them on this initiative.”

“Working with an institutional partner to test, guide and validate the development of our digital lending platform is extremely important to us, and is fundamental to our commitment to innovate through collaboration,” says Andrew Pastoric, Head Strategy & Innovation at Valeyo. “We’re not only building for ourselves, but for the future of our partners and the industry as a whole. Our omni-channel digital lending and credit management platform will give institutions a choice in the systems they connect with; to define the type of experience they want to deliver.”

Valeyo’s new omni-channel digital lending and credit management platform is a multi-year initiative which will deliver a complete in-branch, online and mobile business solution for retail unsecured, secured and small business lending.

With the fast pace of market consolidation, movement towards the federal credit union model and the future of open banking in Canada, viable and future-looking business solutions will only arise through strong partnerships that build in the ecosystem together.

About Innovation Credit Union:

Headquartered in Saskatchewan, Innovation Credit Union provides a full range of financial services to over 56,000 members including individuals, businesses, and organizations across the province. Innovation is intending to become a federal credit union that will enable Innovation to do business anywhere in Saskatchewan and eventually all of Canada. Visit innovationcu.ca.

About Valeyo:

Valeyo is a leading Canadian-based business solutions provider to the financial services industry. At Valeyo our focus is on bringing together the right products, solutions and services to help our partners thrive. It’s more than a promise. It’s the foundation of how we work. And for more than 40 years, we have been creating the connections with people, partners and industry to drive collaboration, revenue growth and opportunity for all our partners. For more information, visit www.valeyo.com.

Media Contact:

Jacqlyn Marcus

Marketing & Communications Manager

P: 416.319.9102

jacqlyn.marcus@valeyo.com