Equitable Bank extends partnership with IFDS Canada to deliver new U.S. High Interest Savings Account

TORONTO, April 27, 2020 /CNW/ - International Financial Data Services (IFDS) Canada, a leading provider of technology and outsourcing services to some of the world's largest financial institutions, today announced that it has launched a full range of service solutions for Equitable Bank's new U.S. High Interest Savings Account (HISA).   

A wholly owned subsidiary of Equitable Group Inc., Equitable Bank offers retail and commercial customers across Canada a suite of financial solutions, including competitive rates on high-interest savings accounts and GICs.

"Based on their fully-integrated platform, extensive experience in the savings space and in-depth industry knowledge, IFDS was a natural choice to support this exciting new addition of our U.S. High Interest Savings Account," said Andrew Moor, President and CEO of Equitable Bank. "At Equitable, we're laser-focused on bringing the best banking experience to Canadians while always ensuring we're challenging ourselves in the process. This partnership is evidence of that focused approach."

"We are pleased to be strengthening our relationship with a growing Canadian financial services business like Equitable Bank, giving Canadians a sound option to save and invest with U.S. dollars through the launch of their U.S. HISA," said Katherine MacMillan, President and CEO of IFDS Canada.

Since 2016, Equitable Bank has relied on IFDS' proprietary technology to provide recordkeeping, transfer agency, and back-office support services for their brokered high-interest savings account products.

About IFDS
With its global headquarters in Toronto, Canada, International Financial Data Services (IFDS) is a world-leading provider of outsourcing and technology solutions to the financial services industry. IFDS services over 240 financial organizations around the world, providing solutions to a wide range of global asset managers, wealth managers, banks, and insurance companies. With over 2,400 employees and partners located throughout Canada, Europe, and Asia-Pacific, the IFDS enterprise supports more than 15.9 million accounts with AUA of CAD $3.6 trillion. IFDS is a 50/50 joint venture between Boston-based State Street Corporation, one of the world's leading providers of financial services to institutional investors, and Connecticut-based SS&C Technologies, a global provider of investment and financial software-enabled services and software for the global financial services and healthcare industries. For more information, visit www.ifdsgroup.com.

All numbers are as of December 2019.

About Equitable Bank 
Equitable Group Inc. is a growing Canadian financial services business that operates through its wholly-owned subsidiary, Equitable Bank. Equitable Bank, Canada's Challenger Bank^TM, has grown to become the country's ninth largest independent Schedule I bank through its proven branchless approach and customer service focus on residential lending, commercial lending and savings solutions to Canadians. EQ Bank, the digital banking platform offered by Equitable Bank, provides state-of-the-art digital banking services. The EQ Bank Savings Plus Account reimagines banking for Canadians by offering the functionality of a chequing account to perform daily banking with ease, as well as a great everyday interest rate to help transactional balances grow into bigger savings. From unlimited Interac e-Transfers® and bill payments to payroll deposits and no monthly fees, everyday banking is now a richer prospect for Canadians. Equitable Bank employs over 800 dedicated professionals across the country.  For more information about Equitable Bank and its products, please visit equitablebank.ca.   

SOURCE International Financial Data Services