VANCOUVER, B.C.– Central 1 here has announced the launch of Forge, a digital banking platform it said transforms the banking experience in Canada.
“Built using global-leading, Backbase technology, Forge puts the control in the hands of clients, providing the flexibility and control to design their digital branch of the future with a user experience that is unparalleled today,” Central 1 said. “Forge delivers a superior user experience for clients and end-consumers with modern design, streamlined front end features, performance and speed for mobile, public website and online banking channels.”
As Canada’s leading digital banking and payments provider for credit unions and financial institutions, Central 1 said it built the platform today around how Canadians are using and expecting digital banking technology experience to be tomorrow.
“We promised our clients something exceptional and in nine short months we have delivered a platform that will enable our clients to create personalized, customized banking experiences for their consumers,” said Mark Blucher, Central 1 president and CEO. “Forge is a clear demonstration of our commitment to deliver leading, responsive products in a time of innovation and disruption.”
Forge was created in a partnership with Backbase, a provider of digital omni-channel banking solutions, as well as a group of early-leading clients that Central 1 said “have embraced the opportunities of cutting-edge banking technology and (which) represented a collective voice for the more than 240 clients that Central 1 works with today.”
The First User
Alterna Bank, a wholly-owned subsidiary of Alterna Savings and Credit Union, and FirstOntario Credit Union (FirstOntario) are the first financial institutions in Canada to use Forge. Alterna customers will experience an updated mobile interface and FirstOntario Members will have access to a new public website, both built using the new digital banking platform, according to Central 1.
“Alterna Bank is recognized as one of Canada’s most innovative digital banking platforms. Through Forge, we are able to remain at the forefront of the digital banking revolution because of the control it gives us over our digital roadmap,” said Rob Paterson, Alterna president and Chief Executive Officer, in a statement. “As a bank guided by credit union cooperative values, we are pleased to be paving the way for other Central 1 clients in their adoption of this exceptional omni-channel solution. Together, we are introducing banking technologies and techniques that our customers want and expect. Alterna is pleased to be leaders in this initiative and to offer exceptional digital bank experiences sooner than the big banks can."
“Delivering a first-in-class digital experience for our Members is a strategic imperative that will drive engagement and growth,” said James Olson, President, FirstOntario. “By committing our leadership, expertise and resources to this collaborative initiative and this new digital banking platform, we’re strengthening our competitive advantage and helping to pave the way for other credit unions looking to do the same.”
Central 1 said Forge will be the foundational platform its digital services going forward. Full client implementation of Forge is slated to take place over three years with the objective to have clients fully transitioned by 2021.