Mathieu Staniulis

The financial services sector faces mounting pressure to digitise operations while maintaining customer relationships: a challenge that is particularly relevant for co-operative financial institutions, which must balance technological advancement with member-focused principles that have defined their operations for generations.

Desjardins Group, North America’s largest financial co-operative with 7.7 million members, is an example of how institutions can navigate this transition. 

Through a five-year technology modernisation programme, the Quebec-based organisation has achieved a position 14 percentage points ahead of other Canadian banks in online product sales, while moving from eighth to second place in Net Promoter Score (NPS) online experience rankings among Canadian financial institutions.

In Canadian banking, digital channels now process most routine transactions, as customers demand digital access to services beyond banking – including mortgage renewals, investment products and financial advisory services.

Desjardins’ response to these market changes highlights some of the complexities of digital transformation in financial co-operatives. 

The institution developed an employee-first testing programme involving 17,000 staff members and integrated AI for personalised financial guidance, all while maintaining its co-operative principles throughout the process.

Nathalie Larue, Executive Vice President of Personal Services, brings more than three decades of Quebec finance sector experience to the transformation effort. Her career at Desjardins spans roles from marketing strategy to major transformation programmes. Since 2017, she has served on the Desjardins Group Management Committee, working across front line operations, back office functions, and three business sectors.

“Our entire transformation has been orchestrated around our members' financial needs, reinforcing their confidence in making informed financial decisions based on their unique circumstances,” says Nathalie.

“For the past two and a half years we've consistently been in the top three, semester after semester,” she says. 

“That’s our biggest success – we’ve been able to complete this transformation while making it easier for our members to do business with us, and they appreciate how we’ve delivered these new experiences – both online and through our in-branch advisors.”

How co-operative structure has shaped Desjardin’s digital transformation

Quebec’s distinct banking market presents unique characteristics. Co-operative banks, operating under different regulatory requirements from traditional banks, must balance member service obligations with technological advancement offering all services in French.

This co-operative structure has shaped every aspect of Desjardin’s digital transformation. 

Mathieu Staniulis, Vice President of Product Solutions and Digital Platforms and Chief Transformation Officer, started his Desjardins career 25 years ago as a student volunteer in a high school branch counter. He progressed from branch teller to roles in contact centres when Desjardins launched its first remote banking operations. His experience spans digital operations, customer experience and marketing.

“Being a co-operative means we always want to act in our members’ and clients’ best interests, whether in how we give advice or how we provide our digital services,” says Mathieu. 

“We’ve redefined our service delivery model for both advisors and front-line employees alongside the digital experience.” 

“There are a few things we consider central to our mission,” Nathalie explains. “First is always doing what’s best for our members and clients, focusing our efforts on meeting their needs and expectations.

“We focus on financial empowerment – the capacity of a member to manage their day-to-day finances with an approach to reach their unique goals. 

“Today, the vast majority of day-to-day banking is done online because this is what members want – they want to do it easily and instantly. But they can also schedule meetings, call an advisor, or get support directly through their mobile device while doing transactions.”

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