DirectCash Bank Announces Approval of Digital Commerce Bank Name Change

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CALGARY, Alberta – DirectCash Bank (“DCBank” or the “Bank”) announced today that it has received approval from the Office of the Superintendent of Financial Institutions Canada (“OSFI”) under the Bank Act (Canada) to change the name of the Bank from DirectCash Bank to Digital Commerce Bank in the English form and from Banque DirectCash to Banque de commerce digital in the French form. The name change to Digital Commerce Bank better reflects the business operations and the Bank’s existing and targeted customers. The Bank will continue to operate under the “DCBank” brand.

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“We are delighted with our name change to Digital Commerce Bank, which allows us to unify our brand, our technology and our offering,” said Jeffrey Smith, President and CEO of the Bank. “As part of the name change, the Bank continues to deliver innovative payment and banking experiences to its customers through technology tailored to financial product innovators, fintech companies, digital business owners and consumers. customers of commercial banks. ”

Digital Commerce Bank

The Digital Commerce Bank is a Canadian Schedule 1 chartered private bank. The Bank’s mission is to provide innovative payment and banking solutions to its customers. The Bank’s proprietary solutions provide customers with efficiency, flexibility and convenience in their banking and payment needs. The Bank is regulated by OSFI, is a member of Payments Canada, and a principal member of Interac, Visa and MasterCard.

Forward-looking statements

This press release contains forward-looking statements. The use of any of the words “will”, “objectives” and similar expressions is intended to identify forward-looking statements. The forward-looking statements contained herein are based on certain key expectations and assumptions made by the Bank. Although the Bank believes that the expectations and assumptions on which forward-looking statements are based are reasonable, forward-looking statements should not be relied upon because the Bank cannot guarantee that they will prove to be correct. Because forward-looking statements deal with future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently expected. The statements contained in this press release are made as of the date hereof and the Bank assumes no obligation to publicly update or revise any statement or information, whether as a result of new information or future events. or otherwise, unless required by applicable law.

View the source version on businesswire.com: https://www.businesswire.com/news/home/201102005254/en/

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Contacts

Jeffrey J. Smith
President and CEO
587-885-2158
[email protected]

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