Explore Faster Forward, the 2024 Interac Corporate Year in Review
2024 was a pivotal year for Interac. In a period of profound transformation both inside and outside our walls, we delivered real impact for our shareholders and for Canadians. This success is a testament to the commitment of our leadership, employees, and stakeholders. Together we turned challenges into opportunities and bold ideas into tangible results.
In 2024, our 40th year, we took decisive actions that will continue to define not just our company, but the role Canada plays in the global digital economy.
We undertook a full-scale organizational transformation, optimizing the way we work to focus on customer success and deliver swiftly to market. We embraced an agile mindset, empowered our employees to drive outcomes by removing layers of authority and brought in fresh perspectives with the appointment of new Group Heads of Client, People & Culture and Product.
We remained focused on tomorrow with the completion of our future-ready three-year strategy. We know that our success depends on Interac successfully defending our core product growth while investing in the new solutions required to accelerate Canada’s digital future.
This three-year strategy which will take us through fiscal year 2027 will see Interac double our offerings. Continuous improvement for Interac Debit, Interac e-Transfer and Interac Verified suite of solutions will support growth of our core products. Investment in fraud and anti-scam leadership, the operation of Canada’s real-time rail (RTR) and the creation of Canada’s leading digital commerce wallet will set our path to digital prosperity for all Canadians.
Alongside our strategic shifts we delivered impressive performance, increasing transactions and revenue across all Interac products and solutions. We improved our customer experience, meeting or exceeding targets for customer satisfaction and service level agreements for all payment and verification platforms.
We were also proud to deliver Canada’s RTR with Payments Canada at the helm and IBM and CGI as other core members. We have embraced our role to deliver fraud services and as the primary technical operator.
By the end of 2024 we established the standalone Interac Fraud function focused on anti-scam and fraud prevention. This group will build products and services that will further bolster the Interac product suite, the RTR and be available to partners in the market.
As we move into 2025 we know our strategy is bold and our goals are ambitious. But we also know it is incumbent on us to lead the creation of a more innovative and inclusive digital future. Our commitment to driving digital prosperity for Canadians remains firm, and we are poised to continue this transformative journey with refreshed intensity.
We are ready for what’s next.
