evolution to anticipate and respond to changing market forces, the needs of the sector and ultimately continuously evolving consumer behaviours. With a specialty in providing treasury and payment services, Central 1 manages and moves almost a billion dollars each day, serving as a “one-stop shop” for clearing, settlement, exchange, fraud management and investment, with a connection point to international and domestic infrastructures including SWIFT, Payments Canada’s systems and Interac®. As a central hub for those who rely on the value that collective scale brings, Central 1 provides reliable access to necessary infrastructure and expertise. With deep knowledge of the financial and banking industry and a desire to innovate with and for their clients, Central 1 was the first in Canada to introduce services like Cheque Imaging, Interac e-Transfer®, mobile remote deposit capture, and online invoicing for small business. These elements allow Central 1’s clients to focus on their strengths to provide great customer experience, while Central 1 manages the essential behind-thescenes work. WHAT ARE “CORE ESSENTIAL SERVICES” AND WHAT DO THEY MAKE POSSIBLE? Central 1 facilitates access to payment services for manyCanadians,and this goes beyond the credit union system to other financial institutions and clients. For example, in 2022, Central 1 supported the Province of British Columbia in enabling the availability of Interac e-Transfer as part of its upgrades to Emergency Support Services (ESS).This achievement demonstrates the benefits of leveraging modernized payments to support Canadians’ increasing demand for digitally enabled payment choices. Central 1 is proud to continue supporting this, working closely with Interac to introduce this new payment solution and to continue as the Province’s payment service provider. Clearing and settlement are essential parts of everyday business and payments. Consider a merchant transaction for example. When a customer buys something in a store using a credit or debit 111 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 10 CENTRAL1
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