Interac^® Verification Service is now live for Prospera members via Caspian One Open Data partnership

August 20, 2025

Surrey, BC – Prospera Credit Union, in partnership with technology provider Caspian One Open Data (Caspian), today announced that the Interac Verification Service is now officially live across Canada for Prospera members. This launch marks an important step in advancing trusted digital services for credit union members across Canada, while deepening Prospera’s commitment to local businesses and contributing to vibrant, healthy communities.

Prospera is among the first credit unions in the country to implement the Interac Verification Service, enabling members to verify their identity using their existing online banking credentials. This simplifies digital processes like onboarding at participating businesses, enhances security and accelerates innovation for members.

At the heart of this initiative is Caspian’s open data ecosystem, which acts as a conduit between financial institutions and third-party service providers. By leveraging this infrastructure, Prospera 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.

“We’re proud to join the Interac Verified network, empowering our members to securely access a growing range of digital services using their trusted Prospera online banking credentials,” says Greg Dyck, Chief Digital and Information Officer, Prospera. “This collaboration with Caspian allows us to deliver seamless, secure and convenient digital experiences – whether it’s opening new accounts, applying for financial products or accessing government services. It’s a key step in our journey to support members in a digital-first world, deliver services tailored to their needs and play an active role in Canada’s evolving consumer-directed banking framework in 2026 and beyond.”

“Importantly, we continue to maintain full control over our members’ data and innovate on our own terms,” Dyck adds. “It ties back to our ability to partner with the right providers at the right time to create bespoke solutions that are relevant to our members.”

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. These institutions are working together to demonstrate the power of cooperative innovation in the financial services sector.

“The successful go-live with Prospera is a pivotal moment, providing real-world validation that a financial data exchange-aligned open data ecosystem is not a concept for tomorrow; it is live and ready for adoption today,” says Paul Freeman, Chief Technology Officer, Caspian One Open Data. “We’re proud to partner with a forward-thinking credit union like Prospera to accelerate their digital strategy for the benefit of their members. Our platform acts as the great equalizer, empowering credit unions to lead their own digital transformation and deliver cutting-edge financial accessibility to members, all while maintaining full control over their data. We encourage credit unions across the country to join Prospera and leverage this immediate opportunity to collectively shape the future of Canada’s credit union system.”

This initiative also aligns with broader industry goals to eliminate problematic practices like screen scraping and prepare for the eventual rollout of open banking in Canada. By adopting financial data exchange (FDX) standards today, credit unions can future proof their digital infrastructure and deliver more value to their members.

For fintechs and credit unions interested in partnering, contact: info@caspian-opendata.com

About Prospera Credit Union

Local banking means investing in Local Good. Built on 80 years of service in local communities, Prospera Credit Union is a community-based, purpose-driven organization that offers a full range of financial products and services. Prospera is one of the largest credit unions in British Columbia, with approximately $9.3 billion in assets under administration and 115,000 members. With 24 branches, Prospera is proud to serve communities throughout the Lower Mainland, Fraser Valley and Okanagan. Prospera has consistently been designated a Great Place to Work, including as one of the Best Workplaces in BC and Best Workplaces in Canada. It's our purpose to build the financial prosperity of our members, enabling thriving local enterprises, financially empowered people and vibrant, healthy communities.

Media contact: mediarelations@prospera.ca

About Caspian One Open Data

Caspian One Open Data’s next-generation ecosystem removes the barriers to entry that helps credit unions thrive in a digital-first economy. Its ‘connect once – deploy to many’ model simplifies integration, and enables the secure participation aligned to North American FDX-standards. By connecting credit unions with a growing network of ecosystem partners, the platform supports innovative, co-created services that unlock operational efficiencies, future revenue opportunities, and deeper member value. For more information, visit www.caspian-opendata.com