Brim’s transformative Platform as a Service (PaaS) technology will deliver innovative products and an unparalleled customer experience to Laurentian Bank customers
MONTREAL and TORONTO, Dec. 22, 2021 (GLOBE NEWSWIRE) — Laurentian Bank of Canada (TSX: LB) (the “Bank”) announced today a strategic partnership with Brim Financial (“Brim”), one of the fastest growing fintech companies in Canada and a licensed credit card issuer, to fuel its digital transformation and enhance its end-to-end customer journey for its suite of VISA products. Through this partnership, Laurentian Bank will integrate Brim’s unique Platform as a Service (PaaS) to accelerate the Bank’s digital capabilities, simplify its VISA ecosystem, close foundational gaps in its offering, and differentiate its products in the market. Laurentian Bank and Brim plan to bring the new experience to the market in 2022.
In partnering with Brim, Laurentian Bank’s VISA customers will have access to digital onboarding and instant adjudication, instant virtual card issuance and mobile wallet functionality, a best-in-class user experience, a wide range of self-serve card management functions, and a robust rewards platform.
The Bank will leverage Brim’s infrastructure and end-to-end modular solution including omni-channel tech interfaces and branch portal, customer engagement, and analytics. Brim’s platform enables branches across the Laurentian network to seamlessly support customers in a unified, co-browsing experience.
“Laurentian Bank is excited to partner with Brim Financial to bring our vision of re-imagining our VISA experience to life,” said Rania Llewellyn, President & Chief Executive Officer of Laurentian Bank. “With this announcement, we are delivering on a number of key priorities in our new strategic plan, including leveraging our size to engage in strategic partnerships to deliver faster and better products for our customers.”
Brim is uniquely positioned in the market to support financial institutions through their digital transformation and re-platforming efforts by creating a seamless embedded finance experience. Brim enables its partners to replace legacy systems and in-house solutions with the first of its kind vertically integrated technology stack, solving for fragmented financial services and enabling every customer hub to be a delivery point of financial services. Brim is the only PaaS globally that bridges the issuance and merchant ecosystem under one vertically integrated platform.
“Brim delivers a fully integrated platform and experience to our partners. Our modular and innovative platform will enable transformative products and experiences seamlessly within Laurentian Bank’s ecosystem, providing customers with instant, enhanced benefits and the largest self-serve functionality in Canada,” said Rasha Katabi, CEO and Founder of Brim Financial. “We’re thrilled to work together with Laurentian Bank to redefine banking services in Canada.”
About Brim Financial
Brim Financial is one the fastest growing Fintechs in Canada. Brim is a market-leading provider of an omni-channel, financial technology platform as a service (PaaS) for financial institutions and large commercial and fintech partners.
Brim built a unique, vertically integrated stack delivering an omni-channel digital financial technology platform as a service (B2B) for Financial Institutions, Large Commercial and Fintech partners. Brim’s fully configurable digital platform delivers payment solutions for consumers and businesses, credit cards, integrated buy-now pay-later solutions, mobile and digital banking, rewards-loyalty and behavior driven customer engagement. To learn more, visit brimfinancial.com.
About Laurentian Bank
At Laurentian Bank, we believe we can change banking for the better. By seeing beyond numbers.
Founded in Montreal in 1846, Laurentian Bank helps families, businesses and communities thrive. Today, we have more than 2,800 employees working together as one team, to provide a broad range of financial services and advice-based solutions for customers across Canada and the United States. We protect, manage and grow $45.1 billion in balance sheet assets and $31.0 billion in assets under administration.
We drive results by placing our customers first, making the better choice, acting courageously, and believing everyone belongs
Laurentian Bank of Canada