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Supporting Alberta Innovation with Katipult Software

How Katipult's Capital Markets Software helped ATB Financial deliver an exceptional experience to help Alberta entrepreneurs and small businesses launch their dreams and give the province a boost, too

We view Katipult as a great technology partner.

They’ve responded to both short term changes in our business, as well as long term strategic planning to make sure that we hit our goals and our objectives as an institution.

Carly Wells
St. Manager ATB BoostR

Name: ATB Financial

Industry: Banking

Country: Canada

Size: 5000+ employees

Challenge: Finding the right technology vendor that can provide all tools and functionalities we need while passing our Vendor Assessment Program

Result: A partner that can help support both our current and future needs

We spoke with Carly Wells, Senior Manager at ATB Financial, one of the largest financial institutions in Canada and largest regional bank in Alberta.

Please provide an overview of your company:

ATB Financial is a regional bank owned by the Alberta government. With $54.9 billion in assets, it is an Alberta-built financial institution that is a catalyst for economic growth in our province. We got started in 1938 to help Albertans through tough economic times.

Today, ATB’s more than 5,000 team members love to deliver exceptional experiences to nearly 800,000 customers through our many branches and agencies, our 24-hour Client Care Centre, four entrepreneur centres, and our digital banking options.

Everything we do is focused on how we can serve Albertans—from providing expert advice and supporting entrepreneurs to helping Albertans buy a home and grow their wealth.


How would you describe your relationship with Katipult?

We view Katipult as a great technology partner. Despite being a third-party service, they act as closely as an internal team would, which is very important to us.

We've been working with Katipult for almost two years now on our reward based crowdfunding platform. Their team has been very responsive, dependable, and capable of servicing our needs. They’ve responded to both short term changes in our business, as well as long term strategic planning to make sure that we hit our goals and our objectives as an institution.


What made you choose Katipult during your selection process?

As with any software project, our institution evaluated both the “build” and “buy” paths to acquiring these functionalities, and initially, we decided to go with custom development.

As a crown corporation ATB Financial is subject to the New West Partnership Trade Agreement (NWPTA) and Canadian Free Trade Agreement (CFTA). As such, ATB is required to go to market to evaluate potential vendors when the expected contract value is above their respective thresholds. ATB sets criteria and ratings during the process and all vendors are evaluated against the criteria and the best fit to ATB is determined through this process. Through that process that is how we found Katipult. As part of our RFI, we wanted to make sure that we didn't end up with a vendor that fell short.

Katipult provided all of the tools and functionalities we required. Both as an administrator and owner of the platform we are able to manage everything ourselves on the platform without much of their involvement.


What made Katipult a good fit for you?

Being a specialized software provider in our industry is the one of the reasons we saw Katipult as a fit, as well as the robustness of their product.

They provided us with the immediate functionality that we required while still having broader capabilities that come with serving firms in a host of other regulatory environments.

They serve a nice array of customers that can be quite complementary in terms of functionality and gives their team a lot of versatility in both their knowledge and capability. They also have a service that can be licensed and implemented quickly. They provide all of the maintenance, security, and support necessary to run the technology so we can focus on our actual business.


What’s one of the main attributes of Katipult you would highlight when recommending it to another firm?

A strong product that is constantly evolving. It's a highly robust product, and significant investment has gone into the product to date.

What we particularly value is working with an innovative group that is always looking to improve their product offering. Katipult has been responsive to any unique requirements we've raised with them. They’ve been able to deliver all functionalities that were deemed critical for improving the service for our clients in a timely manner, at high quality, and at a reasonable cost.


Can you describe the security and product vetting process your firm completed prior to selecting Katipult as a vendor?

 The ATB Vendor Security Assessment Program (VSAP) team evaluates all suppliers which have a cyber component to them if there is any interaction with ATB systems or ATB Customer data. This process ensures that all ATB data is held to a standard which the ATB VSAP team deems acceptable.

If an organization does not initially meet the criteria, ATB does work with the vendors to mitigate the potential risks and ensure the proper security features are implemented.