Program General Update
Revised Credit Union Engagement Approach
As we have communicated, the PPI Project Team has been restructuring the team and roles as a result of challenges and revised timelines, and this includes the engagement of credit unions moving forward. The Credit Union Onboarding team will now focus more on collaborative discussion as opposed to engaging with credit unions on an individual basis. This is as a result of the decision to no longer onboard via pilot credit unions but to have credit unions cut over to the new system when they are ready from a digital and core banking platform perspective.
For the P8 credit unions, the PPI team will be meeting either bimonthly or monthly depending on the needs of different P8 members, with identified key points of contact. For credit unions outside of the P8, a key engagement tool will continue to be the existing monthly Point of Contact (PoC) network sessions – also attended by identified key points of contact. Wanda Harrick, in her role as Credit Union Engagement Lead, will be attending all of these meetings to ensure credit union concerns/questions are captured and responded to.
More broad communications vehicles, such as the Biweekly Broadcast and webinars, are available to all credit union employees and intended to provide more general updates. The PPI portal also has an extensive library of information and is also where credit unions should submit questions. Please note when you submit questions through the portal, the responses will be posted to the site within 48 hours, for all users to see.
CU Impacts Summary
Credit unions have been expressing a need to better understand credit union impacts for each payment product. The PPI Project Team has been developing a comprehensive summary of these impacts detailed by product/payment type and by credit union profile.
These impact summaries will be shared through the new engagement approach described above (e.g. scheduled P8 meetings). These discussions will outline everything from how each payment type will impact your credit union, including process flow impacts, a change action plan outlining IT, business, communication and training activities. Stay tuned for more details.
Payment Type Spotlight – Interac e-Transfer®
With credit unions preparing to onboard Interac, below are some common questions credit unions have around integration of their core banking/digital banking platform with the PaaS platform.
Is the PPJV ready to support credit union integration?
The PPJV is ready to assist all credit unions to move forward with Interac 3.5 by working with whichever digital banking and core banking platforms a credit union uses to leverage the e-Transfer product. Our approach is to be as open and flexible as possible.
What steps will credit unions need to take to start the process?
To leverage the PPJV’s e-Transfer product, credit unions first step is connectivity between your core banking and digital banking providers to the PaaS platform. PPJV has different options to best support credit union needs such as direct connection options or connections through the use of the integration technology. Depending on your credit union’s service providers, some or all of this connectivity is already in place.
Different credit unions may be on different platforms, how will that work?
There are three different scenarios credit unions may fall under:
Scenario 1: DNA Credit Unions – Using Celero Xchange™ and Celero Xpress™
For those credit unions utilizing Celero Xpress as your digital banking platform and Celero’s DNA core banking platform, PPJV and Celero have completed the connectivity required between Celero’s systems and the PaaS platform. The required integration capabilities are ready through Celero Xchange digital ecosystem integration platform, enabling your credit union to adopt e-Transfer as soon as your credit union implements Celero Xpress in production. Please reach out to Valarie Geib – Valarie.firstname.lastname@example.org to discuss your readiness plan.
Scenario 2: DNA Credit Union – Using Celero Xchange and another Digital Banking Platform of Choice
For those credit unions using Celero’s DNA core banking platform and another digital banking platform of choice (e.g. Forge, eBankIT, VeriPark), Celero will play a critical role in establishing the connectivity between the DNA core banking platform and your digital banking platform provider using the Celero Xchange. Credit unions in this scenario should engage your digital provider and your Celero account executive to establish the next steps towards integration with the PaaS platform.
Scenario 3: Other Core Banking Platforms and Digital Banking Platforms
For those credit unions using other core banking and digital banking providers, you can still leverage the e-Transfer through PaaS. To do this, both your digital banking provider and your core banking provider can integrate to the PaaS platform using the DIP. Please engage in these readiness discussions with your providers so the PPJV can begin to support the onboarding of your credit union to Interac 3.5.
Does the credit union have to initiate the process?
While the PPJV is ready to onboard credit unions now, credit unions will need to ask their digital banking and core banking providers to initiate the process. The PPJV remains committed to supporting this process to ensure all credit unions meet Interac’s June 2021 deadline.
Will there be a guide to help us onboard to Interac?
The team is currently developing an onboarding guide that will detail how credit unions can prepare for and execute their e-Transfer onboarding journey. This will be released in November and includes information relating to: what you need to know to get started, readiness checklists, how PPI will support you, and guidelines for communications to members. Stay tuned for updates.
What is the Digital Integration Pattern?
Please note: effective August 2021, the Digital Integration Pattern (DIP) is no longer being pursued. An alternate solution is under development to replace the DIP and additional information will be shared as it is available.
The Digital Integration Pattern (DIP) is a cloud-based architecture that simplifies the integration between digital channels, the PaaS platform, and core banking systems. Owned by credit unions, this exclusive pattern enables any credit union or financial institution across Canada to integrate with the PaaS platform, regardless of their chosen digital banking or core banking solution. The key benefits of DIP is that many of the payment connections have been predefined, allowing for streamlined onboarding as well as isolating the credit unions from changes to comply with new and evolving technology.
What about other payment types?
The other payment types are at different stages of the readiness and onboarding timeline. The team is finalizing agreements, plans, and approaches for wires, AFT, and bill pay respectively. Cheques is scheduled as the last payment type to commence readiness activities; with that said, the next steps for this payment type is to understand and establish integration details.
Frequently Asked Questions
Check out the PPI site’s extensive FAQ section! With over 100 questions and answers that range from why PPI is important to credit unions to API specs and fraud enhancements, a question you have is likely answered. Check out all the FAQs and submit any questions through the Question Form.
Check out the 7th edition of the Flavour of Fast – a report that captures influencers in the payments world. This year’s report hosts exclusive interviews with global leaders playing a key role in shaping the future of payments.