Canadian Western Bank
TSX : CWB

Canadian Western Bank
Payfirma

Payfirma

April 11, 2017 15:30 ET

CWB Financial Group and Payfirma partner to introduce the next generation of merchant services in Canada

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 11, 2017) -

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CWB Financial Group (CWB) and Payfirma today announced a new strategic partnership, the first of its kind in Canada, that will provide CWB with a white labeled version of Payfirma's industry-leading payment technology platform, PayHQ.

The release of CWB PayHQ on May 1, 2017 will allow CWB to add a fully integrated, omni-channel merchant services platform to its growing portfolio of business services products.

"CWB was quick to recognize the positive impact a white labeled version of PayHQ would have on their merchant clients," said Michael Gokturk, CEO of Payfirma. "We couldn't be happier about our new partnership and everyone at Payfirma is excited! We look forward to collaborative innovation with CWB to push the boundaries of what is available in the market today."

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"At CWB, as a business-focused bank, our core financial solutions are targeted to the unique needs of our business clients," said Stephen Murphy, Executive Vice President, CWB Financial Group. "We think innovative fintech partnerships like this one will give us the edge in providing superior service to our targeted clients. We're confident that Payfirma's flexible payment technology and customer service focus are a great fit with CWB, and will help us broaden and deepen our business client relationships."

Partnerships between banks like CWB and fintech players like Payfirma are increasing the pace of innovation in the finance industry. The resulting beneficiaries of these partnerships will be the end clients who obtain simpler, faster, and higher performing solutions at a lower cost.

For more information about CWB Financial Group, visit www.cwb.com. For more information about Payfirma's payment processing solutions for financial institutions, please visit www.payfirma.com.

ABOUT CWB Financial Group

CWB Financial Group (CWB) is a diversified financial services organization serving businesses and individuals across Canada. Operating from its headquarters in Edmonton, Alberta, CWB's key business lines include full-service business and personal banking offered through 42 branches of Canadian Western Bank and Internet banking services provided by Canadian Direct Financial (CDF). Highly responsive specialized financing is delivered under the banners of CWB Equipment Financing, National Leasing, CWB Maxium Financial, CWB Franchise Finance and CWB Optimum Mortgage. Trust Services are offered through Canadian Western Trust. Comprehensive wealth management offerings are provided through CWB Wealth Management, which includes McLean & Partners Wealth Management and Canadian Western Financial. As a public company on the Toronto Stock Exchange (TSX), CWB trades under the symbols "CWB" (common shares), "CWB.PR.B" (Series 5 Preferred Shares) and "CWB.PR.C" (Series 7 Preferred Shares). Learn more at www.cwb.com.

ABOUT PAYFIRMA

Payfirma is an award-winning payments company providing powerful payments technology for credit unions, banks, and other financial institutions across North America from one single source. We help our financial institution partners with innovative payments technology, increased revenue, and dedicated support that our partners and their members can count on. Visit us at www.payfirma.com or follow us on Twitter, Facebook, and LinkedIn.

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