World’s first fully digital financial institution
VersaBank is a Canadian Schedule I chartered bank with a difference. The company became the world’s first fully digital financial institution when it adopted its highly efficient business-to-business model. The model uses its proprietary state-of-the art financial technology to profitably address underserved segments of the Canadian banking market in the pursuit of superior net interest margins while mitigating risk.
VersaBank obtains all of its deposits and the majority of its loans and leases electronically, with innovative deposit and lending solutions for financial intermediaries that allow them to excel in their core businesses. In addition, leveraging its internally developed IT security software and capabilities, VersaBank established wholly owned, Washington, DC-based subsidiary, DRT Cyber Inc. to pursue significant large-market opportunities in cyber security and develop innovative solutions to address the rapidly growing volume of cyber threats challenging financial institutions, multi-national corporations and government entities on a daily basis.
Led by experts
VersaBank has a seasoned team of expert lenders who encompass two primary areas: Point of Sale Financing (e-Commerce), and Commercial Financing which encompasses Public Sector Financing as well as Real Estate and Development Financing. Each group operates throughout Canada, providing lending services from coast to coast.
Further, the company’s focus is on innovation and improving its technologies to support the bank’s rapid growth. Finally, its conservative and dedicated risk management group ensures that growth does not translate into risk.
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