Caspian One Open Data and First West partner to roll out the Interac® verification service

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2 days ago

LANGLEY, B.C., July 15, 2025 (GLOBE NEWSWIRE) -- First West Credit Union, in partnership with technology provider Caspian One Open Data, is proud to announce the launch of the Interac verification service, a secure and scalable digital identity verification solution. This collaboration marks a significant step in advancing trusted digital services for credit union members across Canada.
Through this partnership, First West becomes one of the first credit unions to implement the Interac verification service, allowing members to verify their identity using their existing online banking credentials. This simplifies onboarding processes, enhances security, and improves the overall digital experience for members. This implementation is also the first of what is anticipated to be multiple innovative digital use cases, including future capabilities like cash flow optimization for our SME clients and streamlined automated account opening.
At the heart of this initiative is Caspian's open data platform, which acts as a conduit between financial institutions and third-party service providers. By leveraging this infrastructure, First West can securely and rapidly connect with multiple fintech partners without the need for custom integrations—reducing implementation timelines from months to weeks or even days.
'At First West, we're always looking for ways to make our members' lives easier and more secure,' said Darrell Jaggers, Chief Transformation Officer at First West Credit Union. 'This step forward with open data made possible through our partnership with Caspian is more than a technology upgrade—it's about building trust, simplifying everyday moments, and making sure our members feel confident and cared for in their digital interactions. We're proud to be leading the way in bringing this kind of innovation to the credit union space.'
This initiative is part of a broader collaboration involving Credit Union Central of Canada (CUCC) and a growing network of credit unions committed to leveraging open data to enhance the member experience. Alongside First West, early adopters of Caspian's infrastructure include Prospera Credit Union, Libro Credit Union, Uni Financial, Affinity Credit Union, and Meridian Credit Union. These institutions are working together to demonstrate the power of cooperative innovation in the financial services sector.
The partnership builds on a foundational agreement announced in 2024, when the Large Credit Union Coalition (LCUC) selected Caspian as its preferred partner to deliver the Credit Union System Open Data Solution. This solution is tailored for Canada and enables secure data sharing through APIs—technology that lets different systems exchange information safely. It also includes tools to manage member consent and shared services, helping credit unions innovate while keeping member data protected.
'This collaborative launch with First West and other Canadian credit unions is a monumental milestone, unequivocally proving that Open Data is not a concept for tomorrow; it is live and ready for adoption today,' says Lewis Poe, CEO of Caspian One Open Data. 'This means cutting-edge financial accessibility for every Canadian, from a pensioner in Yellowknife to a new arrival from Mumbai. We encourage credit unions across the country to join First West and leverage this immediate opportunity to collectively shape Canada's financial future.'This initiative also aligns with broader industry goals to eliminate problematic practices like screen scraping and to prepare for the eventual rollout of open banking in Canada. By adopting open data standards today, credit unions can future-proof their digital infrastructure and deliver more value to their members.
As the financial services landscape evolves, First West, Caspian, CUCC, and their credit union partners invite others in the ecosystem to join this growing movement—working together to build a more connected, secure, and member-centric future.
For fintechs and credit unions interested in partnering, contact: [e-mail]
About First West Credit Union First West Credit Union brings together the best of both worlds, combining the scale, stability and solutions of a leading Canadian financial institution with the care and community leadership of a local cooperative. Powered by the leadership of Launi Skinner, First West is Canada's premier multi-brand credit union, serving 283,000 members through four admired community brands: Envision Financial, Valley First, Island Savings, and Enderby & District Financial. With approximately $20 billion in total assets and assets under administration, First West makes it easy for its members to get impactful, practical advice and personalized service that's truly in their best interests, through 45 branches across B.C., a Member Advice Centre and leading digital tools.
Since 2010, First West has given back more than $41 million to its communities, while cultivating a culture with its 1,250 team members that is recognized nationally with Canada's Most Admired Cultures Award, BC's Top Employers Award, 5-Star Psychological Safety Award, and the Canadian Workplace Wellbeing Award. Learn more at firstwestcu.ca and see how we're redefining banking to create a future where everyone can flourish.
About Caspian One Open DataCaspian One Open Data is a secure and innovative open data platform that empowers financial institutions to participate in the open banking revolution. We offer a unique point-to-point data access solution strategically aligned with the upcoming Canadian regulations. By partnering with Caspian One, our clients and partners can leverage our secure fintech ecosystem to unlock new financial products, foster innovation and achieve regulatory compliance. For more information, visit www.caspian-opendata.com
CONTACT: Josh Juhlke First West Credit Union [e-mail] Paul Brandner Caspian One Open Data [e-mail] in to access your portfolio