Michelle Cochrane, Innovation Lead at Interac and Fidel Romero, Workforce Operations Leader at Interac have been grappling with a very specific question: What could we learn if students from across the country participated in conversations about the future of payments in Canada?
At Interac, we are focused on helping Canadians move faster in a digital world. And as emerging technologies reshape how people live, work, and pay, student voices are helping to define that future.
What is the U-Innovate Challenge?
The U-Innovate Challenge, developed in partnership with TECHNATION, invited post-secondary students from across the country to imagine what payments could look like in a world powered by agentic AI.
U-Innovate brought together students, industry experts, and Interac leaders in a national innovation challenge. This went beyond the traditional case competition, where students analyze a business case and present solutions. Instead, the U-Innovate Challenge gave students hands-on exposure to emerging technologies, direct access to industry mentors, and opportunities to join important conversations.
To scale the idea nationally, Interac worked with TECHNATION, leveraging its established platform and post-secondary network to reach students coast-to-coast. Over 120 students participated from universities and colleges across seven provinces, from Newfoundland to British Columbia.
Why does Interac invest in student innovation through U-Innovate?
Interac built U-Innovate around two core objectives:
- Innovation: To explore emerging ideas at the intersection of agentic AI and payments, and to source fresh perspectives from students who are often early adopters and shapers of new technologies.
- Talent Development: To connect student innovation directly to career opportunities. The top ranked team received final round interviews at Interac, ensuring the program is not just theoretical, but tied to real opportunities.
Why focus U-Innovate on agentic AI and payments?
Students represent the next generation of payment behaviours, expectations, and values. They expect financial experiences to be seamless, embedded, intelligent, and aligned with their needs.
By asking students to imagine agentic, human-centred payment experiences, Interac learns how younger Canadians think about trust, autonomy, convenience, and digital interaction. This helps Interac design future ready payment solutions that remain relevant as expectations evolve.
How is U-Innovate different from traditional campus recruiting or case competitions?
U-Innovate flips the traditional model. Instead of asking students to solve predefined problems, Interac invited them to lead with their own perspectives.
Students were evaluated not just on technical thinking, but on creativity, collaboration, and awareness of social, cultural, and economic impact. The program also included built-in networking, giving students direct access to Interac employees, leaders, and judges – something that is often inaccessible in traditional recruiting.
What did students gain from participating?
Students gained exposure to real innovation challenges that organizations like Interac are actively exploring. They built confidence in their ideas, deepened their understanding of the payments and fintech landscape, and developed tangible work they can add to their portfolios.
Equally important, students built relationships with peers from across the country and with professionals working in technology, payments, and innovation.
What happens after the final pitch?
U-Innovate doesn’t end on pitch day. Interac teams working on agentic AI and emerging innovation continue to engage with finalist ideas, creating opportunities for dialogue, feedback, and learning.
One of the most meaningful outcomes is reverse mentorship. Students bring perspectives that highlight emerging trends, unmet needs, and shifting expectations. This insight helps Interac future proof its thinking and products.
How does U-Innovate support Interac and its approach to internships and early talent?
The Interac early talent philosophy is grounded in real ownership and exposure. Interac gives students meaningful opportunities to work on both current and future products and initiatives. Interac Interns join a cohort that emphasizes networking, collaboration, and relationship building, reflecting inclusive and connected culture at Interac.
What does U-Innovate signal about Interac and its role in Canada’s innovation ecosystem?
U-Innovate reinforces Interac and its commitment to Canadian built innovation and its role as a thought leader in emerging technologies like agentic AI. By investing in students to participate, Interac signals a belief that the future of payments in Canada will be defined by the next generation of Canadian thinkers. Supporting youth innovation today helps ensure Canada’s digital future is inclusive, purposeful, and prepared.
As Canada’s payments landscape continues to evolve, Interac sees student innovation as essential to staying relevant, responsible, and future ready. Programs like U-Innovate are not just about ideas-they’re about creating access, building confidence, and empowering the next generation of Canadian thinkers to shape technology with purpose.
By engaging students early, listening to their perspectives, and opening doors to real opportunities, Interac is helping strengthen Canada’s innovation ecosystem and ensure the future of payments reflects the needs, values, and expectations of the people who will use them most.
