Shinhan Bank Canada (Toronto), a wholly owned subsidiary of Shinhan Financial Group Co. Ltd. (Seoul), has entered into agreement with Everlink, (Burnaby, BC, Canada ), a provider of electronic payments services.
Under the agreement, Everlink will provide Shinhan Bank Canada with gateway transaction switching, ATM driving, device monitoring and card processing services. The bank has been approved for operations in Canada by the Office of the Superintendent of Financial Institutions and is establishing its head office in Toronto. The bank is also planning to operate ATMs at each branch and expand throughout Toronto and Vancouver with the opening of several branches. Everlink Payment Services Inc. was formed in 2003 in partnership with its shareholders Metavante Corporation (Milwaukee). Celero Solutions offers delivery of electronic transaction switching services in the Canadian marketplace.