VersaBank (NASDAQ: VBNK) debuts real-time SRP with first partner Financeit
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
VersaBank has launched an industry “breakthrough” Real-Time Structured Receivable Program (SRP) for point-of-sale finance companies in Canada and the United States. The bank’s long-time partner Financeit Canada Inc. is the first large-scale user after a successful pilot completed ahead of schedule.
The AI-enabled Real-Time SRP is now available to other existing and prospective partners, aiming to deepen relationships with current clients and attract new ones across North America. Financeit, which is approaching $2 billion in annual loan originations, expects this broad implementation to make an immediate and meaningful contribution to its business, while VersaBank targets growth in its addressable point-of-sale market.
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Insights
VersaBank expands its point-of-sale funding platform with a real-time, AI-enabled SRP rollout.
VersaBank is moving its Structured Receivable Program to real-time, AI-enabled processing, initially with long-standing partner Financeit. This shifts its point-of-sale funding solution from batch-style funding toward instant decisioning and funding for receivables generated at merchants.
The bank frames this as an industry first and highlights strong demand since the pilot launch less than two months earlier. With Financeit approaching $2 billion in annual loan originations, deeper integration into that flow could meaningfully increase receivables volumes funded through VersaBank over time.
The program has already been proven through a pilot completed ahead of schedule and is now offered to other existing and prospective partners in both Canada and the United States. Actual financial impact will depend on uptake from additional partners and overall growth in point-of-sale originations, details that future company disclosures may clarify.
Key Figures
Financeit annual originations: $2 billion
U.S. SRP market size: multi-trillion-dollar
Canadian SRP track record: over 15 years
+1 more
4 metrics
Financeit annual originations
$2 billion
Financeit approaching annual loan originations
U.S. SRP market size
multi-trillion-dollar
Underserved U.S. point-of-sale market targeted by SRP
Canadian SRP track record
over 15 years
SRP success period in Canada before U.S. launch
U.S. SRP launch timing
August 2024
Launch of Structured Receivable Program into U.S. market
Key Terms
Structured Receivable Program, point-of-sale finance companies, AI-enabled, forward-looking statements, +2 more
6 terms
Structured Receivable Program financial
"announced the launch of its industry breakthrough Real-Time Structured Receivable Program (SRP)"
A structured receivable program is a financing arrangement where a company turns its future customer payments into immediate cash by selling or pledging those expected receipts into a dedicated pool or vehicle. Think of it like selling future paychecks today to get money now; investors watch these programs because they change a company’s cash flow and risk profile, can affect reported debt and earnings, and rely on the quality and predictability of the underlying payments.
point-of-sale finance companies financial
"funding solution for point- of-sale finance companies, which has been highly successful"
AI-enabled technical
"Demand for our industry first, AI-enabled Real-Time SRP has far exceeded our expectations"
AI-enabled describes a product, service, or process that uses artificial intelligence—software that learns from data and makes decisions or predictions—as a core feature rather than a minor add-on. For investors it matters because AI-enabled offerings can boost productivity, lower costs or unlock new revenue streams; like adding a smart autopilot to a routine task, they can change a company's growth potential and competitive edge while also bringing higher upfront investment needs and distinct regulatory or ethical risks.
forward-looking statements regulatory
"VersaBank’s public communications often include written or oral forward-looking statements"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Private Securities Litigation Reform Act of 1995 regulatory
"safe harbor provisions of, and are intended to be forward-looking statements under, the United States Private Securities Litigation Reform Act of 1995"
Real Bank Tokenized technical
"including the Bank’s revolutionary and proprietary Real Bank Tokenized"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of June, 2026
Commission File Number: 001-40805
VersaBank
(Exact name of registrant as specified in its charter)
140 Fullarton Street, Suite 2002
London, Ontario N6A 5P2
Canada
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F o Form 40-F x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
On June 29, 2026, VersaBank issued a press release titled "VersaBank launches breakthrough Real-Time Structured Receivable Program to Point-of-Sale industry in Canada and United States", a copy of which is furnished as Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6-K.
The information in this Form 6-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| VERSABANK | ||||||||
| Date: June 29, 2026 | By: | /s/ Brent T. Hodge | ||||||
| Name: Brent T. Hodge | ||||||||
| Title: Global SVP & General Counsel | ||||||||
EXHIBIT INDEX
Exhibit No. | Description | |||||||
99.1 | Press Release dated June 29, 2026 titled "VersaBank launches breakthrough Real-Time Structured Receivable Program to Point-of-Sale industry in Canada and United States". | |||||||
For Immediate Release: June 29, 2026 Attention: Business Editors VERSABANK LAUNCHES BREAKTHROUGH REAL-TIME STRUCTURED RECEIVABLE PROGRAM TO POINT- OF-SALE INDUSTRY IN CANADA AND UNITED STATES – Bank Goes Live with First Real-Time SRP Partner, Financeit, and Expects to Roll Out to Other Partners Imminently – – Industry First, AI-Enabled Real-Time SRP Capability Significantly Expands VersaBank’s Addressable Point-of-Sale Market – LONDON/ON/CNW/ VersaBank (TSX: VBNK; NASDAQ: VBNK) (“VersaBank” or the “Bank”) a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today announced the launch of its industry breakthrough Real-Time Structured Receivable Program (SRP). Financeit Canada Inc. (“Financeit”), one of the Bank’s largest SRP partners, is the first to utilize the real-time version of the SRP on a large scale following the successful completion, ahead of schedule, of the previously announced pilot program. VersaBank’s Real-Time SRP is now available to other existing and prospective SRP partners in Canada and the United States. “Demand for our industry first, AI-enabled Real-Time SRP has far exceeded our expectations since announcing our pilot less than two months ago,” said David Taylor, Founder and President, VersaBank. “We are thrilled that Financeit, one of our largest and longest tenured SRP partners, will be the first to take advantage of this supercharged version of our already highly attractive point-of-sale funding solution. We expect the unique and innovative benefits of our Real-Time SRP will enable us to grow our share of existing SRP partners’ businesses while enabling us to win business with new partners in both the United States and Canada.” “We are proud to be the first point-of-sale financing company to leverage VersaBank’s Real-Time SRP, a broad implementation that we expect will make an immediate and meaningful contribution to our business,” said Casper Wong, CEO of Financeit. “This milestone reinforces the strength of our partnership with VersaBank and our shared track record of innovation and execution. With Financeit approaching $2 billion in annual loan originations, we expect 2026 to be another record year.” ABOUT VERSABANK VersaBank is a North American bank with a difference. Federally chartered in both Canada and the U.S., VersaBank has a branchless, digital, business-to-business model based on its proprietary state-of-the-art technology that enables it to profitably address underserved segments of the banking industry in a significantly risk mitigated manner. Because VersaBank obtains substantially all of its deposits and undertakes the majority of its funding activities electronically through financial intermediary partners, it benefits from significant operating leverage that drives efficiency and return on common equity. In August 2024, VersaBank launched its unique Structured Receivable Program funding solution for point-
of-sale finance companies, which has been highly successful in Canada for over 15 years, to the underserved multi-trillion-dollar U.S. market. VersaBank also owns Minnesota-based DRT Cyber Inc., a North American leader in the provision of cyber security services to address the rapidly growing volume of cyber threats challenging financial institutions, multi-national corporations and government entities. Through DRT Cyber Inc., VersaBank owns proprietary intellectual property and technology to enable the next generation of digital assets for the banking and financial community, including the Bank’s revolutionary and proprietary Real Bank Tokenized DepositsTM. VersaBank’s Common Shares trade on the Toronto Stock Exchange and NASDAQ under the symbol VBNK. FORWARD LOOKING STATEMENTS VersaBank’s public communications often include written or oral forward-looking statements. Statements of this type are included in this press release and may also be included in other securities filings or in other communications. All such statements are made pursuant to the “safe harbor” provisions of, and are intended to be forward-looking statements under, the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. The statements in this press release that relate to future events or future performance are forward-looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, many of which are beyond VersaBank’s control. There is a risk that predictions, forecasts, projections and other forward-looking statements will not be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements, as a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such statements. These factors include, but are not limited to: the strength of the Canadian and US economies in general and the local economies in which VersaBank operates; the effects of changes in monetary and fiscal policy, including changes in interest rate policies of the Bank of Canada and the US Federal Reserve; global commodity prices; the effects of competition in the markets in which VersaBank operates; inflation; capital market fluctuations; the timely development and introduction of new products in receptive markets; the impact of changes in laws, including trade laws and tariffs, and regulations applicable to financial services; changes in tax laws; technological changes; unexpected judicial or regulatory proceedings; unexpected changes in consumer spending and savings habits; the impact of wars or conflicts and related effects on global supply chains and markets; the impact of outbreaks of disease or illness affecting local, national or international economies; the possible effects of terrorist activities; natural disasters and disruptions to public infrastructure (including transportation, communications, power or water supply); and VersaBank’s ability to anticipate and manage the risks associated with these factors. The foregoing list of important factors is not exhaustive. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors as well as other uncertainties and potential events. The forward-looking information contained in this press release is presented to assist VersaBank shareholders and others in understanding VersaBank’s financial position and may not be appropriate for any other purposes. Except as required by applicable securities laws, VersaBank does not undertake to update any forward-looking statement contained in this press release or made from time to time by VersaBank or on its behalf.
FOR FURTHER INFORMATION, PLEASE CONTACT: LodeRock Advisors Lawrence Chamberlain (416) 540-7486 lawrence.chamberlain@loderockadvisors.com Visit our website at: www.versabank.com Follow VersaBank on Facebook, Instagram, LinkedIn and X.
FAQ
What did VersaBank (VBNK) announce in its June 2026 Form 6-K?
VersaBank announced the launch of its Real-Time Structured Receivable Program for point-of-sale finance companies in Canada and the U.S., positioning it as an industry-first, AI-enabled offering to expand its addressable market and deepen relationships with existing partners.
Who is VersaBank’s first real-time Structured Receivable Program partner?
Financeit Canada Inc. is the first large-scale partner using VersaBank’s Real-Time Structured Receivable Program. As one of VersaBank’s largest and longest-tenured SRP partners, Financeit implemented the solution following a pilot that was completed ahead of schedule.
How large is Financeit’s loan origination business mentioned by VersaBank?
VersaBank notes that Financeit is approaching $2 billion in annual loan originations. This scale suggests that integrating Real-Time SRP into Financeit’s operations could direct a significant volume of point-of-sale receivables toward VersaBank’s funding platform.
In which markets will VersaBank’s Real-Time SRP be available?
VersaBank’s Real-Time Structured Receivable Program is available to existing and prospective SRP partners in both Canada and the United States. This follows the successful Canadian history of its SRP and the 2024 launch of its funding solution into the U.S. market.
How does the Real-Time SRP fit into VersaBank’s digital banking model?
The Real-Time SRP aligns with VersaBank’s branchless, digital, business-to-business strategy. The bank uses proprietary technology and electronic deposit gathering to address underserved banking segments, seeking operating leverage and higher returns while funding point-of-sale receivables through partner relationships.
What forward-looking risks does VersaBank highlight in this announcement?
VersaBank cites risks common to forward-looking statements, including economic conditions in Canada and the U.S., interest rate changes, competition, regulatory and tax changes, technology shifts, geopolitical events, and unexpected disruptions. These factors could cause actual results to differ from its current expectations.