Interac Joins Forces with FCT to Digitise Canada’s Real Estate Ecosystem

Canada’s real estate sector has been given a major shot in the arm with Interac Corp.’s new partnership with FCT. In a bid to modernise the market, Interac joined forces with FCT, the number-one supplier of title insurance and real estate technology in Canada.

The aim is to enhance the process of digital ID verification within the marketplace. The partnership is designed to streamline purchases, improve buyer and seller security, and ensure full compliance with the country’s regulatory framework.

Interac has established itself as the beating heart of Canada’s fintech network. It’s now renowned among Canadians for its safe and efficient payment services. Aside from its standard debit services, Interac has been influential in redefining the digital verification process across a string of sectors. Whether it’s government services, real estate or entertainment niches like iGaming, Interac has helped make digital verification and payment processes easier. At Canadian-friendly online casinos like Wildz, Interac is now listed as a supported payment option before global payment networks like Visa and Mastercard.

FCT and Fintracker: Real Estate Technology Innovators

Headquartered in Oakville, Ontario, FCT works with various clients, such as lenders, lawyers, real estate professionals, and builders. With over 1,200 staff members nationwide, FCT delivers market-leading title insurance and real estate-related products and services.

The firm’s laser focus on innovation was again displayed via its recent purchase of a majority shareholding in Fintracker Inc., a digital ID verification business built to be used solely for real estate deals. This strategic move reflects FCT’s bid to enhance safety and compliance for Canadians at both ends of real estate transactions.

Fintracker and KYC/AML Compliance Made Easy

Fintracker’s technology simplifies compliance with Know Your Client (KYC) and Anti-Money Laundering (AML) regulations by digitizing identity verification and automating the completion of necessary forms. This integration accelerates the home-buying process, enhances data security, and reduces the risk of fraud.

Simon Fiore, CEO of Fintracker, said the firms had a “shared vision” to limit the fraction for the public and real estate clients, helping to “raise the bar” for AML and KYC compliance.

Why Digital Verification Matters Now More Than Ever

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The tie-up of FCT and Interac comes at a time when the digitization of real estate deals is rising fast and fraud risks are similarly escalating. The old-school ways of authenticating IDs via in-person meetings and supplying hard copies of documentation are increasingly subject to violations.

Via the Interac Verified portal, agents in real estate can securely authenticate client IDs and data, improving the integrity and productivity of each aspect of a property transaction.

Giles Sutherland, head of business development at Interac, said equipping real estate professionals with “the right tools to protect their clients” was important to secure deals “from start to finish”.

Aligning with Broader Fintech and Payment Trends

This partnership also reflects a broader shift in the financial industry toward replacing paper-based processes with secure, real-time digital solutions. A prime example is Interac e-Transfer for Business, which allows instant digital payments, reducing operational inefficiencies tied to cheques and bank transfers.

In addition, Interac plays a pivotal role in the development of Canada’s upcoming Real-Time Rail (RTR) payment system. Once launched, RTR will enable real-time payments, making transactions like real estate purchases even more streamlined and secure.

A Step Forward for the Canadian Real Estate Market

The integration of Interac’s digital verification technology into FCT’s real estate offerings marks a leap forward for the industry. By creating a compliant, secure, and efficient identity verification framework, this partnership tackles longstanding pain points in the home-buying journey—especially for time-strapped Canadians navigating complex deals.