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By Brendan Read As Canada prepares to adopt open banking, financial institutions (FIs) are figuring out how to embrace this new level of digital information sharing. Canada is following the lead of other jurisdictions, such as the United Kingdom, Europe and Australia, in giving its citizens more control over how …

By Tyler Anderson Payments in the Canadian ecosystem have evolved beyond the financial service providers. Everyone from early-stage start-ups to tech giants and to other non-financial players wants to be involved in the quickly growing payments ecosystem. At FinTech Growth Syndicate (FGS), we have had a front row seat to …

By Patrick Bermingham Canadian start-ups and established business-to-business (B2B) companies alike are increasingly interested in the industrial Internet of things (IoT), with over 81 per cent of medium and large organizations adopting at least one IoT solution. Many of these businesses, however, are missing a trick when it comes to …

By Christopher Morris and Brian Laneheart The Canadian FinTech sector has grown in recent years. In the first half of 2019, Canadian FinTechs raised $251 million, almost double the amount raised during the first six months of 2018. Today, Toronto, Ontario is one of the largest industry hotbeds in North …

By Amber D. Scott Most compliance professionals first hear about cryptocurrencies, like bitcoin, and blockchain projects in terms of risk. Questions then arise: from whether these products can be used to launder money and finance terrorism (yes, as can every other payment method, but they aren’t great for this purpose), …

By Rick Snook In 1957 a bank robbery in Cleveland, Ohio, where a man and his accomplice forcefully approached a teller, stuffed over $2,000 in a bag and ran out to their getaway car, became the first ever to be captured on film and caught soon after. Fast-forward from that …

By Rich Stuppy Many merchants are increasingly turning to machine learning (ML) and artificial intelligence (AI) to help make faster and smarter decisions to automatically approve good transactions and reject fraudulent ones. The problem is that many companies that claim to use AI are just using rudimentary ML based on …

By Jason Mugford Each year, payment processing inefficiencies cost Canadian businesses between $2.9 billion and $6.5 billion. Business-to-business (B2B) cross-border payments is one notable example of this as they are particularly time-consuming and can be prone to error. Treasury professionals across industries are frustrated by the legacy systems of correspondent …

By Roy Farah Ask any financial services professional, like those in a major bank or in a small credit union, and they will universally name their biggest challenge in one word: regulations. Canada has some of the strictest rules in the world, and while newer initiatives like open banking are …

By Roman Mykhaylyshyn New and constantly evolving technologies, including in the payments industry, are resulting in new products and services, and as such they have become an integral part of day-to-day lives: and this trend is far from over. However, as with most things, innovation comes with risks. With digital …