On January 23, 2025, Central 1 Credit Union has entered into an agreement with Intellect Design Arena Ltd., under which Intellect will assume responsibility for Central 1’s digital banking operations. This transition follows Central 1’s October 2024 announcement to wind down its digital banking offerings. As part of the agreement, Central 1 will transfer its Forge, MemberDirect, public website and mobile applications, as well as its digital banking engineering and service teams to Intellect. Central 1 will continue providing the underlying technology infrastructure and related services to support the transition.

To maintain continuity, Central 1 team members who support digital banking will join Intellect to continue operating the digital software and assisting clients as they transition to new digital platforms. The transaction is expected to close in the coming weeks. Legal counsel for Central 1 was provided by Blake, Cassels & Graydon LLP, while Stikeman Elliott LLP acted as legal advisor to Intellect Design Arena Ltd.

Though no transaction value was disclosed, the deal underscores Intellect’s growing commitment to Canadian financial institutions. Intellect’s existing suite of Canada-ready digital banking solutions, including its eMACH.ai Digital Engagement platform, offers expanded features beyond Central 1’s current offerings and provides a strategic path forward for credit unions and banks navigating the shift in digital banking services.