THE EXCHANGE® Network and FICANEX Services Limited Partnership
Fiserv EFT is the owner of THE EXCHANGE® trade mark and its associated rights. Fiserv EFT has granted FICANEX® the exclusive right to use, market and sublicense THE EXCHANGE® trade mark and the intellectual property rights associated with the operation of THE EXCHANGE® Network throughout Canada. FICANEX® is a limited partnership formed under the laws of the Province of British Columbia. FICANEX® manages THE EXCHANGE® Canadian Network by licensing entitlement to use the intellectual property associated with the Network.
History of THE EXCHANGE® Network
THE EXCHANGE® Network of ATMs is a very successful, U.S.A.-based operation. It is one of the largest ATM networks in the U.S., with over 500,000 ATMs. In 1983, THE EXCHANGE® Network was introduced into Canada when a number of B.C. credit unions decided to make, what was then, a revolutionary move to provide inter-institutional, full-function ATM transaction processing. Arrangements were made and the Canadian operation of THE EXCHANGE® Network was established and run under the new company named Pacific Network Services (PNS). The balance of B.C. credit unions and the Bank of British Columbia (now HSBC Bank Canada) joined in 1985. The transactions processed in 1983 are believed to have been the first international inter-institutional debit card/ATM transactions.
History of FICANEX®
The history behind the formation of FICANEX® is directly linked to the ownership/licensing of THE EXCHANGE® trademark and the related intellectual property rights in Canada. In 1983, PNS (Pacific Network Services) had the exclusive rights to license the trademark to any financial institution with its head office in the four western Provinces of Canada. When PNS was sold to Co-Operators Data Services Limited (CDSL) in 1987, the licensing arrangement carried on. When CGI Information Systems and Management Consultants Inc. acquired CDSL in 1997, the trademark rights to THE EXCHANGE® Network became non-exclusive. In 2000 FICANEX® Services Limited Partnership was formed by a collaborative group of credit unions and banks to accomplish together what each could not do on their own. By securing THE EXCHANGE® Network brand in Canada, their goal was to increase scale and distribution to the benefit of existing and new network users. Since 2000 THE EXCHANGE® Network has grown from a B.C. regional based network to a network of over 3,300 ATMs that includes every province and territory in Canada. Today, with over 170 financial institution participants, serving over 5.5 million Canadian cardholders, THE EXCHANGE® Network rivals the big banks in terms of ATM distribution and is the only inter-institution, full function, surcharge-free ATM network in Canada FICANEX® continues its collaborative approach to meet the financial and service goals of its limited partners and licensees today and well into the future.