Shaping a more inclusive financial future

An interview with Oscar Roque, Chief Product & Innovation Officer at Beem Credit Union.

As one of British Columbia’s largest provincially regulated credit unions — serving over 200,000 members across 66 branches — Beem pairs community trust people expect from a credit union with the innovation and agility needed in modern banking. 

Oscar Roque shares the motivation behind Beem joining Payments Canada, their perspective on Canada’s forthcoming Real-Time Rail (RTR) and how they plan to champion financial inclusion and credit union agility on the national stage.

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What payment offerings in other markets do you believe will make their way to Canada in the next five to 10 years?
Globally, we’re seeing a shift toward faster, more seamless and more integrated payment experiences. Real-time payments are a key part of that, but the real opportunity lies in what gets built on top of them. In other markets, that includes services like request-to-pay, smarter invoicing and embedded payments woven directly into digital and business experiences. That makes payments more than a transaction; they become part of how people manage cash flow and run their lives and businesses. Over the next five to 10 years, we expect these kinds of innovations to arrive – but what is really exciting is what we can’t see. The speed of change means we will have to continuously adapt.  

What does 'payment equity' or 'financial inclusion' mean for your organization, and how does Payments Canada membership help you achieve your goals in those areas?
For Beem, this really ties back to our mission of financial wellness for all. It means making sure people and businesses, no matter where they live or their financial situation, can easily and confidently move and manage their money.

While Canada has a strong financial system, there are still gaps, especially in rural and underserved communities. Improving access to modern, reliable payment systems is an important part of closing those gaps.

Our membership in Payments Canada helps us play a more active role in that. It gives us the opportunity to help shape how payment systems evolve with inclusion in mind and to adopt new capabilities, like real-time, data-rich payments, in ways that are practical and accessible for our members.

Are there other reasons Beem chose to become a member of Payments Canada? 
Joining Payments Canada is a foundational step in Beem’s evolution as a modern, forward-looking financial institution. Payments underpin everything we do in the economy. Beem is passionate about ensuring that the future of payments in Canada reflects the needs of consumers. Being at the table allows us to help shape a more inclusive and effective system. 

For Beem, membership allows us to be better connected, have more influence and positions us to deliver faster, more seamless and more innovative payment experiences for our members.

What is your interest in the RTR? 
While Beem does not intend to become a direct participant in the RTR at this time, we are closely monitoring its development and recognize its importance in the future of payments in Canada.

For Beem, the RTR is part of our larger future journey toward modernizing payments. Combined with our Payments Canada membership, it will position us to deliver more competitive, future-ready services while continuing to support the financial well-being of our members and communities.

This is about turning payment innovation into real-world benefits that help our members move money faster, more securely and with greater ease.

How does your organization plan to collaborate within the Canadian payment ecosystem as a Payments Canada member?
As a Payments Canada member and a credit union, collaboration is central to how we see our role. Payments are a shared responsibility and meaningful progress happens when financial institutions, fintechs, regulators and infrastructure providers work together.

For Beem, membership gives us a direct voice to share a perspective that is on a fast-track to modernize but grounded in community needs. By contributing to industry discussions, helping shape standards and approaches and exploring partnerships across the ecosystem, we can combine our collective strengths for the benefit of consumers and businesses. It also means supporting a more open and competitive payment environment, where organizations of different sizes can contribute and compete on more equal footing.

As access to core infrastructure expands, including through Payments Canada and Canada’s Real-Time Rail, we expect to see more collaboration around shared systems, common standards and new payment use cases. That’s how we get to faster, more seamless and more useful payment experiences, without compromising safety or reliability.

For Beem, it comes back to value for our members. We’ll look to partner where it makes sense while maintaining strong oversight and accountability. Done right, this kind of collaboration helps drive competition, accelerate innovation and deliver better experiences for Canadians.

About Beem Credit Union    

Beem is one of BC’s largest provincially regulated credit unions, supporting the financial wellness of 200,000 members from 66 branches across the province with $18 billion in assets under administration.