Brim Financial, Canadian Western Bank partner to launch FinTech platform, consumer credit cards

Following its $25 million CAD Series B round last month, Toronto-based FinTech startup Brim Financial has teamed up with Canadian Western Bank (CWB) to give CWB clients access to Brim’s “platform-as-a-service” technology.

Brim said the new partnership will enable CWB to offer Brim’s suite of consumer credit cards and integrated digital banking platform, which facilitates a wide range of financial services.

Brim’s tech suite includes credit cards, an end-to-end digital platform, and “the world’s largest embedded loyalty and rewards” program.

Rasha Katabi, Brim’s founder and CEO, called the new agreement part of Brim’s response to “a heightened need for digital delivery, convenience, simplicity, and uniquely differentiated customer experiences” in the banking sector.

“We are excited to partner with CWB, enabling the seamless integration of our cutting-edge financial products and platform within the CWB ecosystem,” said Katabi.

Brim’s tech suite includes credit cards, an end-to-end digital platform, and “the world’s largest embedded loyalty and rewards” program. Founded in 2017, Brim’s backers include Desjardins Group, EPIC Ventures, goeasy, White Owl and Impression Ventures.

The FinTech startup offers credit card products and omnichannel digital experiences through its platform, including onboarding and self-service portals, which will now both be integrated with CWB’s existing banking software.

Headquartered in Edmonton, CWB is a chartered, full-service bank that serves small to medium-sized businesses and individuals. Through the arrangement with Brim, CWB will be able to access the startup’s customer support, platform design and development, loyalty management, banking centre employee tools and portal, compliance and risk management, and analytics services.

Brim also plans to give CWB clients access to embedded buy-now, pay-later capabilities, mobile wallet compatibility, budget and spend monitoring, the ability to lock cards and block foreign or online transactions, family cards, and free global WiFi.

“Our partnership with Brim to roll out a suite of consumer credit cards and innovative platform is another step forward in how CWB continues to deliver a boutique offering designed for business owners that seamlessly integrates personal banking needs into a business and wealth financial relationship,” said Stephen Murphy, executive VP of banking at CWB.

Ultimately, Brim aims to power banking and integrated ecommerce on a single platform. Murphy said this vision aligns with CWB’s focus on providing “a premium client experience.”

Photo courtesy of Brim Financial