New LaunchJun 29, 2026, 07:06 AM
VersaBank Launches AI-Enabled Real-Time SRP with Financeit
AI Summary
VersaBank announced the launch of its industry breakthrough Real-Time Structured Receivable Program (SRP), which is AI-enabled. Financeit Canada Inc., one of the Bank's largest SRP partners, is the first to adopt this new program on a large scale. The Real-Time SRP is now available to other existing and prospective partners in both Canada and the United States, with VersaBank expecting to grow its market share. Financeit anticipates the program will significantly contribute to its business, as it approaches $2 billion in annual loan originations.
Key Highlights
- VersaBank launched its industry-first, AI-enabled Real-Time Structured Receivable Program (SRP).
- Financeit Canada Inc., a major SRP partner, is the first to utilize the real-time SRP on a large scale.
- The Real-Time SRP is now available to other existing and prospective partners in Canada and the United States.
- Financeit expects the broad implementation to make an immediate and meaningful contribution to its business.
- Financeit is approaching $2 billion in annual loan originations.
- VersaBank's original Structured Receivable Program launched in the U.S. in August 2024.
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