VersaBank engages in the provision of financial services. The company is headquartered in London, Ontario and currently employs 121 full-time employees. The company went IPO on 2013-08-27. The Bank provides commercial lending and banking services in Canada and the United States, as well as cybersecurity services and banking and financial technology development services through the operations of its wholly owned subsidiary DRT Cyber Inc. (DRTC). The company operates through two segments: Digital Banking and DRTC (cybersecurity services). The Digital Banking segment obtains its deposits and provides its loans and leases electronically via deposit and lending solutions for financial intermediaries. Its loan portfolio includes point-of-sale loans and leases, commercial real estate mortgages, commercial real estate loans and public sector and other financing. The DRTC segment develops solutions to address the volume of cyber threats challenging financial institutions, multi-national corporations and government entities. The company also offers receivable purchase program (RPP) funding solution for point-of-sale finance companies.
