VersaBank Expands Receivable Purchase Program with New Partners

VersaBank Announces Addition of New Partners

On September 3, 2025, VersaBank, a frontrunner in North America's digital banking sector, unveiled its plan to incorporate two new partners into its Receivable Purchase Program (RPP) in Canada. This exciting development also features VersaBank's first partnership under the newly introduced securitized financing model, which the bank aims to adapt to both the Canadian and US markets.

David Taylor, President of VersaBank, expressed his enthusiasm regarding the strategic partnership, stating, "The addition of these two partners continues to demonstrate the value proposition of our consistently available, readily accessible, economically attractive Receivable Purchase Program and further expands our already dominant position in Canada." He believes that these enhancements will significantly bolster VersaBank's addressable market, thereby enhancing its core RPP offering.

The Receivable Purchase Program is a cornerstone of VersaBank's offerings, aimed at providing liquidity solutions for businesses. With this latest expansion, the bank has effectively broadened the scope of its RPP to include securitized financing options. The RPP Securitization strategy will focus on investing in senior-level tranches of target securitized credit assets while establishing a platform for the securitization of assets originating from its financing partners. This innovative approach is designed to meet the current demands of larger financing firms seeking lower-cost securitized financing, all while navigating the present interest rate landscape.

VersaBank's unique business model sets it apart in the banking industry. As a federally chartered entity operating in both Canada and the United States, the bank has adopted a branchless, digital structure. Employing cutting-edge technology, VersaBank efficiently caters to underserved segments within the banking sphere while minimizing risks. By leveraging electronic transactions through financial intermediaries, VersaBank benefits from enhanced operational leverage and productivity.

The launch of the Receivable Purchase Program funding solution has already garnered significant success in Canada and is now being extended to the vast, multi-trillion-dollar market in the United States, marking a substantial step in VersaBank's growth trajectory.

In addition to its banking operations, VersaBank owns DRT Cyber Inc., a respected provider of cybersecurity solutions that tackle the growing complexities of cyber threats faced by various sectors, including government and multinational corporations. The bank is also the parent company of Digital Meteor Inc., which holds proprietary technologies aimed at revolutionizing digital asset management in the financial domain, including its innovative Digital Deposit Receipts (DDRs).

As VersaBank continues to adapt its offerings to meet market demands and safeguard its competitive edge, it is poised for future growth and expansion. The successful integration of two new partners into the Receivable Purchase Program reaffirms the bank's dedication to developing solutions that not only benefit its operations but also addresses the pressing needs of its clients.

Investors and stakeholders monitoring VersaBank's progress can find its shares trading on both the Toronto Stock Exchange and NASDAQ under the symbol VBNK. For further information about VersaBank and its various services, please visit VersaBank's official website.