Digital Commerce Bank (“DCBank”) conducts the majority of its operations electronically, without brick-and-mortar branches, allowing customers to access their accounts and conduct transactions through online and mobile banking platforms. DCBank has developed a bespoke digital infrastructure allowing clients to access digital banking and payment services directly integrated into their own technology and solutions.
Founded in 2008, by Susan M. Anderson and Jeffrey J. Smith (Co-founders) who have extensive experience in payments and banking technology businesses. Such as online payment business and banking solutions, to provide efficient, convenient, and user-friendly payments and banking experiences for their customers.
In 2008 Jeff and Susan saw a market opportunity of these services not being offered by traditional financial institutions.
For the past +15 years, Digital Commerce Bank has been actively growing the digital payments and banking sectors in Canada.
The company’s technology is based on digital payment solutions for corporate online payments and banking, empowering businesses and FinTech entrepreneurs to effortlessly scale their businesses.
DCBank has been successful in understanding clients’ business needs & requirements and then following through efficiently and effectively without compromising quality.
Serving Customer Centric Solutions
Digital Commerce Bank embraces agility and flexibility as key principles, adapting to rapidly changing customer demands, technological advancements, and regulatory requirements.
DCBank has been doing this working closely with its customers and fintechs to bring innovative new products and services to the Canadian market.
DCBank accelerates businesses with fintech payment solutions, such as access to electronic fund transfers, wire transfers, direct deposit services, automated digital account and sub-account creation and bill payments to facilitate efficient and secure financial transactions.
Digital Commerce Bank also offers digitally delivered and integrated into individual client’s software debit and credit cards linked to a customer’s account and wallet. These debit cards can be used for everyday transactions, such as making purchases online or in person, withdrawing cash from ATMs, and managing account balances. This enables clients to easily build out financial services and wallets for their end users.
The development of these digital wallets, prepaid cards and the fact DCBank has its own direct transaction processing solutions coupled with a full public API stack have driven DCBank’s success to date.
The meaningful and profitable collaboration between Fintech Prize, My First Bicycle and Fundica has opened doors to provide support for the Calgary and Canadian community.
DCBank has a strong mandate to develop and contribute to the communities and organizations that provide the market for DCbank’s products and services. To that end DCBank is the funding sponsor of the Digital Commerce Fintech Awards which rewards the winning Fintechs with 300,000 in non-dilutive cash to grow their business. We are committed to Fintechs and their success. Please visit https://calgaryfintechaward.com/.
In addition, DCBank is the primary donor of the MY First Bicycle Foundation, whose mission is to donate a bicycle, helmet and lock to financially disadvantaged children in Canada. In 2022, MFB gave away approx. 650 bikes and in 2023 is aiming to give away over 1000. Please have a look at the web page www.myfirstbicycle.ca.
DCBank is also keen on supporting our customers and those looking for funding, and to that end has set up a dedicated search tool enabling organizations to search for government grants. The tool is free and available on the DCBank webpage. Please see https://www.dcbank.ca/business-funding.
Talented Experts at the Core
DCBank’s foundation and success is fundamentally about a team of talented professionals working together to solve client needs.
No surprise, The DC group of companies has a rich history in the payment industry that traces back to 1997 when Direct Cash Payments Inc. was established.
It pioneered affordable and profitable ATMs for retailers in the Canadian market, marking the beginning of the Digital Commerce Group’s journey. Since then, unwavering commitment to innovation, agility, and customer-centricity has propelled DCB to expand its operations, add new products and services, and grow business on a national and international scale.
Over the years, DC Payments has made significant strides in the ATM business, building it from a single ATM in Canada to a formidable fleet of approximately 25,000 ATMs across five countries worldwide, making it one of the largest operations in the world.
In 2017, Digital Commerce Group sold the ATM business to Cardtronics, the largest global ATM operator, after 20 years of dedicated growth and success.
Throughout the journey, DC Group has remained focused on providing innovative financial solutions, prioritizing customer needs, and adapting to the evolving landscape of the payment industry.
Digital Commerce Bank continues to be driven by a commitment to excellence, and its remarkable history serves as a strong foundation as they venture into new opportunities and avenues in the dynamic world of payments.
Efficiently Solving Customer’s Cut-throat Challenges
The team of talented professionals has spent decades building an ecosystem of ease & reliability. With the help of Digital Commerce Bank, businesses and individuals can make digital payments, such as person-to-person (P2P) transfers, bill payments, and mobile wallet payments, providing convenient and secure ways to manage their financial transactions.
DCBank’s fully API enabled payments and banking features are available for clients to easily integrate.
DCB helps its customers to plan a secure future and provides all necessary resources to make their business successful.
Arguably, like any other enterprise Digital Commerce Bank had its own array of challenges & ups and downs.
One of the biggest challenges that Digital Commerce Bank has faced is building and nurturing people capital.
Beautifully Summed up by Jeffrey Smith:
The success, as well as the failures, of a business, are directly tied to the skills and abilities of the team, and I believe this holds true for most businesses.
Creating an effective and high-performing team requires significant time and resources, and while it’s one of the most rewarding aspects of my role, it’s also incredibly challenging as the bar for performance keeps rising.
What was considered excellent yesterday may be seen as mediocre tomorrow, so continuous improvement is imperative.
As a business owner, the ultimate motivation for me in starting and operating a business for the long term is developing and executing a plan with a team of motivated individuals, and witnessing the incremental progress we make that eventually translates into tangible results for our stakeholders.
It’s the small, repeated steps forward that bring about meaningful outcomes and drive our business toward success.
5 Years Goals
- Technology advancement in Digital Commerce Bank
- Launch digital small business products and services
- Grow our brand
- Automated regulatory process and performance
- Increased payment and banking access
How does Digital Commerce Bank stay relevant to consumer interests and needs in this highly volatile market?
Jeffery Smith Summed up the interview with a time-proven suggestion.
Listen, listen, listen… And talk less.
I’ll go back to our philosophy of working side-by-side and really getting a deep and thorough understanding of our client’s needs. We don’t just see our clients as dollar values.
Digital Commerce Bank is typically the frontrunner in innovation and enabling fintech. We believe fintech is our partner, not our competitor. Saying “no” is easy, but we make it our mission to say “yes” and embrace any challenges that come our way.
Digital Commerce Bank is always ready to embrace a roller coaster ride (ups & downs, inevitable for every business) with a positive mindset and healthy work culture. They understand the new norm is to learn, unlearn and relearn every single day.
