VersaBank:
The Bank of the Future.
For More Than 30 years.

A veteran banker with a background in computer programming, VersaBank’s founder (and President and CEO since inception), David Taylor, had a vision for the world’s first digital, branchless, business-to-business (B2B) financial institution – a groundbreaking model that would significantly mitigate the typical risk associated with deposit taking and lending, while also enabling operating efficiencies that were unattainable in conventional banking.  That vision became reality in 1993 when, using the latest technology of the time, fax modems, Mr. Taylor created one of the very first digital financial businesses, which in 2002 received the first Canadian Schedule I Bank License in 18 years.  We were fintech decades before there was fintech. 

For VersaBank, the power of digital, branchless, B2B banking wasn’t only about be benefits of risk mitigation and efficiency.  It was about providing financial intermediaries – those interacting directly with the end user depositors and borrowers – with choice – choice in the form of new technology-based banking alternatives that were not being provided by the broader industry.  By combining our proprietary, robust banking technology with creative, forward-looking thinking, and supported by the confidence instilled by our Schedule I bank license, for more than three decades we have delivered innovative deposit and lending solutions that address critical unmet needs in the market.  In doing so, we enable our client partners to compete in ways not previously possible and take their own businesses to new levels of success. 

Today, through continuous innovation and execution, VersaBank remains unique within the North American banking and fintech sectors, with high-value add deposit and lending/financing solutions in such high demand that VersaBank has more than [doubled] the size of its loan portfolio since [2017].  With continued strong growth expected in our Canadian business, we are now expanding into the United States, which presents our largest opportunity to date through the launch of our Receivables Purchase Program – a new financing alternative for US consumer and small business financing companies that has already proven itself in Canada. 

We continue to grow our loan portfolio with a risk profile that is among the best in the industry and an efficiency ratio and return on common equity that, through the significant operating leverage in our model, will steadily trend toward the top of our peer group. 

Always looking forward, always one step ahead, we continue to be the bank of the future 30 years on.  Now, with the rapidly growing recognition of the benefits of digital, technology-based banking solutions, our time has truly arrived.