VersaBank is a Canadian Schedule I chartered bank that has successfully leveraged its commitment to innovation to develop an efficient and effective technology-driven business-to-business banking business model that has facilitated VersaBank’s becoming one of the world’s first fully digital financial institutions. In their digital banking operations, they conduct their deposit gathering and loan origination activities predominantly through technology-enabled electronic deposit and lending solutions for financial intermediaries that they believe enable these intermediaries to excel in their core businesses. They seek to profitably and prudently address underserved segments of the Canadian and U.S. financial service markets by developing and providing innovative, technology-based deposit taking and lending solutions that enable lower-cost funding and lower-risk lending than they could otherwise achieve, in the pursuit of attractive risk-adjusted returns. Their lending business has a particular focus on point-of-sale financing. They have grown their point-of-sale loan and lease portfolio in Canada to U.S.$918 million as of July 31, 2021 by addressing an unmet market need and believe the opportunity exists to address a similar unmet need in the United States, in which the market is estimated to grow to U.S.$1.8 trillion.