VersaBank Starts Pilot for AI Enabled Real Time Receivable Program with FinanceIt Canada

April 29, 2026
VersaBank has begun a pilot program with FinanceIt Canada for its new AI enabled Real Time Structured Receivable Program, offering immediate funding capabilities for point of sale financing partners.

VersaBank has begun a pilot program with FinanceIt Canada for its new Real Time Structured Receivable Program, announced in a press release. The program uses artificial intelligence to provide immediate funding capabilities for point of sale financing partners.

The Real Time Structured Receivable Program allows partners to finance individual loans within hours, reducing financing costs and improving cash flow efficiency. The pilot aims to demonstrate the system’s ability to process transactions faster than conventional receivable programs.

VersaBank expects the program to help expand its market share in Canada and the United States by offering faster and more efficient financing solutions. The Structured Receivable Program portfolio exceeded 4.4 billion Canadian dollars as of January 31, 2026.

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