Peoples Group this week announced a strategic partnership with payments and financial services technology provider Fiserv.
The move “represents one of the most substantial technology investments” ever for People’s Group, a Canadian financial services company.
Fiserv, a Fortune 500 firm, will deliver its next-generation payments offering for PG.
The deep partnership signals “a long-term commitment to delivering enterprise-grade banking infrastructure,” according to a statement, that “meets both current market demands and future innovation requirements for leading fintechs and advanced technology providers.”
“As Canada makes significant investments to strengthen our economic competitiveness, our banking infrastructure is a critical piece of that equation,” explains David Raju, who is serving as interim President and CEO for Peoples Group.
Canada “needs systems that can respond as global standards evolve and technologies like real-time payments come into play,” Raju posits.
“We are building today so Canada’s financial services sector can compete on the world stage tomorrow,” he remarked.
The fintech will enable clients and partners to leverage instant payments, always-on infrastructure and ISO 20022 data through direct connections to Canada’s prominent payment systems, streamlining automation and enhancing digital client experiences.
This modernized infrastructure, built on Fiserv’s tech, will streamline existing banking and payment capabilities in preparation for Payments Canada’s Real-Time Rail deployment.
“Peoples Group is at the leading edge of innovation in Canada’s financial ecosystem, and we’re proud to support their next-generation payments strategy,” stated Sayantan Chakraborty, Head of Digital Payments for Fiserv.
“With the Fiserv Enterprise Payments Platform, we’re delivering the scale, security, and connectivity financial institutions and fintechs need to grow and compete across Canada,” Chakraborty said.
William Keliehor, Chief Client Officer of Peoples Group, says the organization is “committed to providing enterprise-grade infrastructure and architecture that empowers our customers to deliver at scale, innovate faster, and focus on delivering exceptional customer experiences.”
“Our platforms and solutions help accelerate digital transformation for our partners, ranging from financial institutions to innovative fintechs, reducing the costs, complexity, and risks associated with developing proprietary systems,” Keliehor commented.
In 2024, Fiserv acquired Toronto fintech Payfare.
In 2025, the firm agreed to a multiyear partnership with Canada’s second-largest bank.
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