Updates (Public)

APRIL WEBINAR RECORDING

The recording for this month’s updates webinar (April 22, 2025) and presentation slides are available for viewing on our website. Click here to see our publicly available webinar recordings.

VENDOR EVALUATION + SURVEY

On April 4th, we received responses to our RFI questionnaire from eight of our selected vendors. We are working with a third party, Fulcrum Payments, to assess the submissions. The first pass will look at the table stakes criteria around key functionality (e.g. fraud and security related), core and payments integration, and operating model. This may result in a preliminary short list by the end of next week. There are approximately a dozen volunteers from the participating credit unions that will serve on the vendor evaluation committee. They will be involved in the evaluation process, participating in webinar workshops, and providing input on an ad hoc basis as we test findings and observations. This will gradually build toward recommendations on vendor suitability, operating model, and initial considerations for migration.

It is critical for this process, and in preparation for negotiations, that we have a full set of data from every participating credit union. If you have not yet submitted your response to the NDBWG Vendor Evaluation survey, please respond immediately. You can find the survey here: https://forms.gle/PGeoHXr4uw2HJN4r9
Note: active user counts can easily be accessed in your credit union’s most recent C1 Forge or Member Direct invoices

APRIL WEBINAR

This month’s updates webinar will be taking place on April 22, 2025 at 12:00 PM PT / 3:00 PM ET. If you have not yet received an invitation, please contact Jeff Eastman at secretariat@cbcucollaboration.com.

DISCLOSURE OF PARTICIPANTS

To showcase the amazing credit unions involved in the project, we plan to make all participant credit union names publicly available on the NDBWG website (see next section). The visibility of our participants can be a great way to attract more members and collaborators. If you prefer not to have your credit union’s name shared, please email us at secretariat@cbcucollaboration.com by April 17, 2025.

RECAP – NDBWG WEBSITE

We now have a website available for the NDBWG! Visit https://nationaldigitalbankinggroup.com/ for news, updates, and webinar recordings. The site and its current contents are accessible to anyone to learn about the NDBWG, but as we progress further with the project, we will send login details to confirmed members to access member-only materials.

VOLUNTEERING WITH THE GROUP

We highly value the perspectives and opinions of the participating credit unions in our decision-making process. We are looking for volunteers to assist with the following work groups:

• Vendor Evaluation (analyze vendor options, create comparative analysis of offerings to inform decisions)
• Transition and Implementation Planning (develop roadmap for implementation and develop migration strategies)
• Negotiations and Contracting (conduct negotiations with vendors, finalize contracts with vendors / partners)
• Operating Model and Program Management (assess options for long-term service model, evaluate governance of digital banking platform)
• Risk Management (identify project risks, create risk management strategies)

Scope of participation for any of the above committees will primarily be restricted to a series of web calls or surveys to solicit feedback and test plans. If you or anyone at your credit union are interested in volunteering with one of the above-listed working groups, please contact Jeff Eastman at secretariat@cbcucollaboration.com.

If you have any questions or comments about the updates, the working group, or the joining process, please contact Jeff at the above listed email.

We’re pleased to bring you another update about our progress with the National Digital Banking Working Group. We currently have 44 credit unions across Canada that have submitted their Letters of Intent to participate in the NDBWG program, giving us the participation we need to undertake this process of finding a viable alternative digital banking platform. For those who have confirmed their participation, we will be sending you an invoice in the first week of April.

RECAP – UPDATE WEBINAR #2

Thank you to everyone that attended our second updates webinar on March 18 to review our progress and share your questions and thoughts. If you were unable to attend or would like to review the information presented, see below:

• Click here to access the recording of the Mar 18 NDBWG updates webinar
• Click here to access the Mar 18 presentation slides

For our first webinar hosted on Feb 11, see below:

• Click here to access the recording of the Feb 11 NDBWG updates webinar
• Click here to access the Feb 11 presentation slides

NDBWG WEBSITE

We now have a website available for the NDBWG! Visit https://nationaldigitalbankinggroup.com/ for news, updates, and webinar recordings. The site and its current contents are accessible to anyone to learn about the NDBWG, but as we progress further with the project, we will send login details to confirmed members to access member-only materials.

WORKING GROUP UPDATES

At our previous updates webinar, we mentioned six vendors being considered in our vendor evaluation process: Bankjoy, ebankIT by CGI, Financle, Intellect Design, Plumery, and VeriPark. We are now in communications with two additional vendors for consideration; Libro and Savana. We await RFP information back from all of the above vendors and expect that information back on April 4th.

VOLUNTEERING WITH THE GROUP

We highly value the perspectives and opinions of the participating credit unions in our decision-making process. We are looking for volunteers to assist with the following work groups:

• Vendor Evaluation (analyze vendor options, create comparative analysis of offerings to inform decisions)
• Transition and Implementation Planning (develop roadmap for implementation and develop migration strategies)
• Negotiations and Contracting (conduct negotiations with vendors, finalize contracts with vendors / partners)
• Operating Model and Program Management (assess options for long-term service model, evaluate governance of digital banking platform)
• Risk Management (identify project risks, create risk management strategies)

If you or anyone at your credit union are interested in volunteering with one of the above-listed working groups, please contact Jeff Eastman at secretariat@cbcucollaboration.com.

LETTER OF INTENT

If you are interested in joining with the NDBWG’s effort to select and implement a new digital banking platform, we ask that you sign a Letter of Intent by March 31, 2025 (or otherwise ASAP) and return it to secretariat@cbcucollaboration.com.

• Click here to download the NDBWG Letter of Intent Contact us for more information on the LOI

The purpose of this Letter of Intent (LOI) is to: (i) outline the preliminary understanding of the NDBWG and the participating credit unions with respect to the collaborative digital banking Initiative; and (ii) ensure that there is a level of commitment from each participating credit union (from both a financial and organizational perspective) going forward. As this initiative is in its early stages, the LOI is designed to include flexible language and acknowledge the potential for the initiative to evolve over time. Payment details will be made available at a later time if/when participation numbers satisfy progression criteria.

If you have any questions or comments about the updates, the working group, or the LOI process, please contact Jeff Eastman at secretariat@cbcucollaboration.com.

We are pleased to invite you to a webinar hosted by the National Digital Banking Working Group (NDBWG) on March 18, 2025 at 12:00 PM PT / 3:00 PM ET. This webinar will present the progress our working groups have made, update you on system engagement, and include a Q&A and open discussion period at the end to address any questions you may have.

We encourage you to attend the webinar and to participate actively. Your insights and engagement are vital to the success of our initiatives. This webinar will be recorded and made available for later review.

We look forward to your participation and to an engaging and informative session.

• Click here to access the recording of our previous updates webinar (Feb 11)
• Click here to access the presentation slides (Feb 11)
• Click here to download the NDBWG Letter of Intent  Contact us for more information on the LOI

Thank you to everyone that attended our first updates webinar on Feb 11. With 126 attendees representing over 60 credit unions across Canada, we were enthused to see the amount of interest in the National Digital Banking Working Group. If you were unable to attend or would like to review the information presented, see below:

• • Click here to access the recording of the NDBWG updates webinar
  • Click here to access the presentation slides

If you have not yet completed the post-webinar survey, we kindly ask that you do so for valuable information on how the working group moves forward.

• • Click here to complete the post-webinar survey

WORKING GROUP UPDATES:

Since then, our Vendor Evaluation working group, supported by the digital experience from 12 credit union representatives, has been hard at work with the evaluation criteria and process and setting next steps. Their objective is to select a digital banking platform that will allow small/medium credit unions to deliver a modern, digital experience for their members at a reasonable cost and a manageable operating model to reliably meet credit union needs, now and into the future.

Criteria for evaluation included:

• • Core bank system integration
  • Integration with established payments providers
  • Meets 3rd party risk criteria (cyber security, business processes, financial stability, certifications, etc.)
  • Fraud management capabilities/integration to current services to provide capabilities as good or better than current
  • Platform has Feature Parity or better with Forge/MD
  • Vendor can demonstrate long term commitment and reliability to the credit union business
  • There is a clear plan for how to maintain currency of platform to meet future digital banking and modern payments needs of the credit unions
  • The proposed operating model is manageable for smaller credit unions that may not have depth of in-house expertise to manage their own instance of digital banking
  • Reasonable total cost of ownership
  • Migration plan aligns with all credit union transition deadlines
  • Vendor has the right staff, experience and culture to manage its credit union accounts
  • APIs for third party service integration

We are preparing to send out questionnaires to the vendors we plan on evaluating by the end of the week, providing them with 3 weeks to complete and return the questionnaire regarding their capabilities to support our criteria. Based on feedback from the working group, we are using the Central 1 questionnaire as our starting point on feature functionality. We added additional questions to fully evaluate the vendors against the other criteria identified during the Vendor Evaluation workshop as being important to the credit unions participating in this exercise.

VOLUNTEERING WITH THE GROUP:

We highly value the perspectives and opinions of the participating credit unions in our decision-making process. We are looking for volunteers to assist with the following work groups:

• • Vendor Evaluation (analyze vendor options, create comparative analysis of offerings to inform decisions)
  • Transition and Implementation Planning (develop roadmap for implementation and develop migration strategies)
  • Negotiations and Contracting (conduct negotiations with vendors, finalize contracts with vendors / partners)
  • Operating Model and Program Management (assess options for long-term service model, evaluate governance of digital banking platform)
  • Risk Management (identify project risks, create risk management strategies)

If you or anyone at your credit union are interested in volunteering with one of the above-listed working groups, please contact Jeff Eastman at secretariat@cbcucollaboration.com.

LETTER OF INTENT:

If you are interested in joining with the NDBWG’s effort to select and implement a new digital banking platform, we ask that you sign a Letter of Intent by February 28, 2025* and return it to secretariat@cbcucollaboration.com.

*Link removed – contact us directly for the LOI*

*This timeline is shorter than listed in the Letter of Intent to 1) discern immediate interest/investment in the project to ensure we have the necessary involvement to proceed and 2) allow time for other interested credit unions to join the project as word spreads. We ask that you complete your LOI as soon as possible.

The purpose of this Letter of Intent (LOI) is to: (i) outline the preliminary understanding of the NDBWG and the participating credit unions with respect to the collaborative digital banking Initiative; and (ii) ensure that there is a level of commitment from each participating credit union (from both a financial and organizational perspective) going forward. As this initiative is in its early stages, the LOI is designed to include flexible language and acknowledge the potential for the initiative to evolve over time. Payment details will be made available at a later time if/when participation numbers satisfy progression criteria.

If you have any questions or comments about the updates, the working group, or the LOI process, please contact Jeff Eastman at secretariat@cbcucollaboration.com.

We are pleased to invite you to a webinar hosted by the National Digital Banking Working Group on February 11, 2025 at 8:30 AM PST / 11:30 AM EST. This webinar will present the progress we have made so far and the project plan going forward. We will include a Q&A period at the end to address any questions you may have.

The agenda (subject to change) is as follows:

1. Background on the initiative

a. How we got here

b. Introduction to parties leading the initiative

c. Survey Findings

2. Terms of Reference

3. Project Plan

a. Working Groups

b. Phases and action plan

c. Progress to date

4. Call for participation

We encourage you to attend the webinar and to participate actively. Your insights and engagement are vital to the success of our initiatives. You will receive a Google Calendar invite with the Teams meeting details shortly.

We look forward to your participation and to an engaging and informative session.

With the recent announcement from Central 1 to sunset Forge Digital Banking, and today’s further communications outlining the transition process, we recognize most credit unions will be looking for support to limit the friction and costs for the selection and migration to new digital banking solutions. The Community-Based Credit Union Futures Committee (CFC) has been working along with resources from League Data, National Consulting Limited (NCL) and Stabilization Central Credit Union (Stab) since October to explore a collaborative approach to the critical effort facing our organizations. Together these groups bring a breadth of capabilities, with a collective reach that includes credit unions, system partners and technology vendors across the country.

The CFC is hoping this work, already started, can help mitigate some of the concern and pressure stemming from today’s update. Significant resources are required to evaluate, select, negotiate and migrate these services. However, by pooling resources and expertise, we can realize efficiencies and buying power. The National Working Group on Digital Banking has been formed to streamline efforts, consolidate insights, and develop a unified approach to vendor selection and implementation. It is anticipated that a collaborative approach will reduce the level of time and investment required by individual credit unions. We want all stakeholders to know there are already efforts underway to support you.

If your credit union is interested in exploring whether this working group is a fit for you, please contact Jeff Eastman from the Credit Unions Future Committee at secretariat@cbcucollaboration.com with any inquiries or to connect you with credit union leadership currently involved in this initiative. He can also send you a link to the survey intended to poll the needs and priorities of those interested in participating. Survey results will be distributed early in January along with recommendations for the way forward. The National Working Group will then continue to engage participating credit unions through regular feedback sessions and will work with Central 1, and any other relevant third party, on behalf of participating credit unions as they build out plans and options for the transition.

Additionally, working groups managing different streams of this exercise will consist of relevant expertise and diverse perspectives to ensure the needs of participating credit unions are represented. If there are people within your organization with skills or experience relevant to the vendor selection and migration exercise, please submit their names and qualifications for consideration to Jeff Eastman at the email above.

We all recognize this is an extremely difficult situation. It is our hope that, by working together, we will moderate the impact to our organizations while reducing the risk to the Canadian credit union system as a whole.

About Community-Based Credit Unions Futures Committee:

The Community-Based Credit Union Future Committee (CFC) is a voluntary association of over 40 Community-Based Credit Unions (CBCUs) in British Columbia, Manitoba and Ontario. Established in 2021, the CFC fosters collaboration and advocacy to ensure the continued success of CBCUs in serving their local communities. Guided by cooperative principles like equity, democracy, and solidarity, the CFC focuses on practical initiatives such as improving digital banking solutions, addressing governance challenges, and developing collaborative strategies. The CFC unites members to amplify their impact and navigate a rapidly changing financial landscape.

About League Data:

As Chief Information Officer (CIO) for the Atlantic Credit Union System, League Data Ltd. provides technology leadership in the area of banking solutions, aligned with regional and national credit union system initiatives that support member growth and system efficiencies. League Data provides over 50 seamless, fully integrated technology solutions from key vendors to deliver a member-first experience while meeting the evolving banking needs of both credit unions and their members. www.leaguedata.ca.

About National Consulting Limited:

In 2022 National Consulting Limited (NCL) was formed through the collaborative efforts of 26 Saskatchewan credit unions. Previously a division of SaskCentral, NCL was established with a vision to create a company that provides operational support and solutions to credit unions coast to coast. NCL is an organization with a team of experts that takes pride in providing high-quality solutions which credit unions across the country need. NCL’s mission is to collaborate to ensure credit unions’ success. Credit unions have been counting on NCL’s services for years and can be confident that NCL will provide rock steady support now and into the future.

About Stabilization Central Credit Union:

Stabilization Central Credit Union is a provincially regulated cooperative financial institution owned by all BC credit unions, with a mission is to ensure their stability and resilience. Guided by a member-centric governance model, Stabilization Central is critical in the early mitigation of issues that may threaten any credit union’s viability. Operations are built around three key business lines: Stabilization Activities, the Master Bond Program, and Elective Services.  We also specialize in developing and implementing resources, including toolkits, merger facilitation as well as engaging subject-matter experts to help credit unions navigate regulatory environment and address system-wide challenge.

Background
In October of this year, following Central 1’s announcement to wind down its digital banking business, concerned representatives from credit unions and system organizations – Community Based Credit Unions Future Committee (CFC), League Data, National Consulting Limited (NCL), and Stabilization Central Credit Union – came together as a group to discuss its impacts and brainstorm on ways we might work together to overcome this challenge. Given the significant effort required of evaluating, selecting, negotiating, migrating, and even ongoing management of these services, attendees at this session recognized the potential to pool resources and expertise to drive efficiencies and realize buying power across the system.

With a collective reach that includes credit unions, system partners, and technology vendors across the country, our organizations struck a collaboration to explore how we could take advantage of our individual strengths and apply them using a cooperative approach to support credit unions through a digital banking transition. Our collaboration has evolved into a National Digital Banking Working Group with representation from CFC, League Data, NCL and Stabilization Central.

Your Feedback
To ensure we are best equipped to support your path forward to an alternative digital banking platform, we have designed a survey that will gauge credit unions interested in a cooperative approach to replacing the Forge platform, then assess the needs and priorities of those interested in participating.

The National Credit Union Digital Banking Survey is now open! We understand that multiple individuals within your credit union may have insights to share, but we do request that each credit union submit a single response by December 11, 2024. Once submissions are collected, analysis and sharing findings with the National Digital Banking Working Group will commence. While we understand that some credit unions may not wish to participate, we encourage every credit union to complete the survey as we work to understand the needs of as many impacted credit unions as possible.

By completing this survey, you agree that your responses will be used for exploratory purposes by the National Digital Banking Working Group participants in support of digital banking alternatives. Your responses will help to identify commonalities and differences that will be key considerations in determining a cooperative approach. Results will be summarized and shared in aggregate with impacted credit unions. Findings will not be shared with other organizations without prior consent, and only if it’s agreed to benefit the process.