Cyder and Caspian One Open Data Team Up to Turn Connected Data into Member Rewards
The integration will link Cyder’s white-label loyalty platform to Caspian’s FDX-aligned ecosystem for Canadian credit unions.
Toronto, On [November 5, 2026] – Cyder, the fintech redefining loyalty for credit unions, today announced it is integrating with Caspian One Open Data (Caspian), the FDX-compliant open data platform built for Canadian credit unions. The integration brings loyalty and rewards into the open data space, making it easier for credit unions to launch and personalize rewards using connected member data.
Caspian gives credit unions a secure, consent-managed connection to third-party providers. Its platform already connects credit unions to the live Interac® verification service, and Caspian is the preferred open data partner of the Large Credit Union Coalition.
For credit unions, Caspian's "connect once, deploy to many" model is the shortcut. Cyder integrates with existing core banking infrastructure and carries each credit union's own brand, so members earn rewards seamlessly.
Open banking in Canada is picking up speed especially seen in Budget 2025, when the federal government committed to completing the consumer-driven banking framework and accelerating its next phase. Most of the work so far has centred on compliance and connectivity. This partnership puts the focus on what members get when they choose to share their data.
"Open banking infrastructure only matters if it creates tangible, everyday value for people," said Lewis Poe, CEO of Caspian One Open Data. "Establishing secure connectivity and identity verification was the necessary first step, but compliance alone won't engage members. If a member consents to share their data, there needs to be a clear, immediate return. Cyder gives credit unions a turnkey, high-impact platform to deliver that return on the exact same open rails."
What began as informal industry discussions during a CCUA conference has quickly evolved into a formalized partnership - driven largely by organic market demand. As credit unions have onboarded onto Caspian's open data platform, many have independently sought a way to deploy Cyder’s loyalty capabilities without building custom integrations from scratch.
"Open data gives a credit union a clearer, consented picture of its members," said Sukhman Dulay, CEO and Co-Founder of Cyder. "Cyder turns that picture into rewards members notice. Pairing with Caspian means credit unions will be able to do it on the same rails they're building for open banking."
About Cyder
Cyder builds modern and personalized loyalty programs for credit unions that strengthen member relationships and reinforce cooperative values. Built in partnership with credit unions, Cyder enables credit unions to reward meaningful financial behaviours, like opening accounts, staying on track with goals, engaging digitally, and supporting local businesses all while strengthening belonging and long-term member relationships.
Cyder has been named one of Plug and Play’s Top 5 Canadian Startups (2023), selected as a Berkeley SkyDeck Batch company, and recognized by NEXT Founders Canada as a Top Venture. Most recently, Cyder was featured among Canada’s Top Fintechs by Framework, celebrating our commitment to building technology that keeps community at the centre of finance.
Media Contact:
Jasmin Athwal
jasmin@getcyder.com | 6474000293
Cyder Communications Team
About Caspian One Open Data
Caspian One Open Data’s next-generation ecosystem removes the barriers to entry that helps credit unions and other financial institutions thrive in a digital-first economy. Its ‘connect once – deploy to many’ model simplifies integration and enables the secure participation aligned to North American FDX-standards. By connecting credit unions with a growing network of ecosystem partners, the platform supports innovative, co-created services that unlock operational efficiencies, future revenue opportunities, and deeper member value. For more information, visit www.caspian-opendata.com.
