CDIC’s modernization initiative

CDIC’s Modernization initiative will transform the ways we serve depositors. It will bring several changes to how we interact with our Members Institutions (MI), Nominee Deposit Brokers (NB), and how we guide depositors (including trustees) during a time of uncertainty.


Depositor experience

At the time of a member institution failure, depositors will experience a high degree of transparency, choice, and control: selecting how they communicate with us, accessing real-time updates on insured deposits and payment status, and the choice of a range of modern payment methods. By providing depositors with a simple and transparent experience in a period of uncertainty it will reinforce their trust in CDIC to provide timely access to insured balances.

MI & NB interactions & user experience

The use of modern and secure portals will offer a centralized platform to coordinate MI & NB specific and organization-wide communications and data submissions into one single channel. It will facilitate the timely and robust assessment of data from MIs & NBs, to provide the necessary data to determine insured balances and efficiently pay deposit brokers insured balances on behalf of their clients in the event of a failure. The Portals will enable increased visibility on current and historical compliance results, exceptions, and queries to CDIC.

Data validation capabilities

MIs and NBs will be empowered to perform self-serve data assessment (e.g., validating against file structure, format, and content rules) using automated, straight-through processing, allowing members and brokers to auto-assess their compliance with CDIC regulations at any time throughout the year and to attest to compliance requirements with greater confidence.

DSR & NBDR testing

The MI & NB Portals will facilitate rigorous assessment and compliance testing to ensure members and deposit brokers maintain prudent record keeping on depositor funds and the capability to support complete, accurate and timely insurance determination at the time of an MI failure.

What’s in it for me?

The MI & NB Portals will equip Member Institutions and Nominee Brokers with modern and enhanced tools for safe and secure data transfer and storageimproved coordination, and engagement with CDICnew self-serve testing capabilities, and increased access to information and historical documentation. Below are five key functional components of the MI & NB Portals:

& profile administration

MIs and NBs will manage their respective portal accounts (including portal access) via their Admin User.

Data testing

The MI & NB Portals will provide members and brokers with the ability to test DSR and NBDR extracts in a self-serve manner, without CDIC interference.


The MI Portals will be used as the primary channel to communicate annual differential premium results.


The MI and NB Portals will provide members and brokers with a centralized communication with CDIC, and the ability to submit certain key filings through the portals (e.g., s.15 reporting on key MI contacts).

Payout functionality

The NB Portal will provide increased transparency during a Payout, providing real-time updates to NBs on payment status and statements, as well as the ability to submit payment information.

Future Communications

The launch of the Portals is currently planned for late 2024. CDIC appreciates ongoing / strong relations with you on this topic and wants to learn more about your needs.

To that end, please contact with the name of a contact within your institution that can act as primary liaison as CDIC rolls out its solution (i.e., training, demos, etc). CDIC will be in regular communication with MI and NB contacts on planned roll out dates, training, and log-in credentials.

Frequently asked questions

This page will continue to be updated with questions as we receive them.

Modernization initiative

Why is CDIC undergoing this initiative?
As an MI who will be using a Portal with CDIC for the first time, are we expected to do anything to prepare for the launch of the portal?
How can we expect to be trained on the respective Portals?
Is it true we will be able to perform a self-assessment on our data in the new Portals?
Why are NB’s being moved to a new Portal? We only just started using the current one last year.
What platform are the Portals run on? Will they be secure?
Will the Portals be available in both official languages?
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