Business BankingCross-Border PaymentsPayments

How Banking-as-a-Service (BaaS) Can Fuel the Future of International B2B Payments

By Thomas Anderson Digitalization has been central to banking since the introduction of ATMs in the late 1960s. It has led to a rapid change in the way customers want to interact with money or matters related to it. With accelerating digital transformation changing operational risks, there has been a …

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Business BankingData Analytics

In the Race for Customer Primacy it’s time for Traditional Banks to Win

By Fiona Roach Canning SMBs account for around one-fifth ($850 billion) of global banking revenues, with annual growth predicted to reach up to 10 percent over the next five years1. This is a critical revenue stream that banks can’t ignore. Customer expectations of digital services are being shaped by the …

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Business BankingFinTech

Open Banking is A Gamechanger for Canadian Small to Mid-Size Businesses

As businesses gear up for growth – driving efficiencies and access to capital is critical by Stephen Hogg Never has the phrase ‘business as usual’ been more obsolete. Constantly evolving market dynamics, shifting consumer expectations, and heightened macro-economic pressures are creating new challenges and opportunities for Canada’s small to mid-size …

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Business BankingFinancial Analytics

CIBC’s Innovation Framework wins for supporting development of new banking tools and programs

TORONTO, ON–CIBC has won a 2021 BIG Innovation Award, presented by the Business Intelligence Group. The annual business awards program recognizes organizations, products and people around the world that are bringing new ideas to life in innovative ways. The CIBC Enterprise Innovation team received an Organization Award for its Innovation …

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Business BankingPayment Processing

Scotiabank 1st to Offer Real-Time Payments in Canada through Interac e-Transfer for Business

Business service allows the ability to send & receive real-time payments using a recipient’s account number or email address TORONTO, ON–Scotiabank is the 1st financial institution in Canada to offer real-time payments for all business banking customers using flexible routing options like an account number or email address, using Interac …

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Business BankingGovernment News

RBC clients can now access the Export Development Canada Business Credit Availability Program

The EDC BCAP Guarantee fee of 1.8% will be deferred for clients for the first six months TORONTO, ON–RBC announced the launch of the Government of Canada’s Export Development Canada (EDC) Business Credit Availability Program (BCAP). The EDC BCAP provides eligible mid-sized and large RBC business clients with a loan …

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Business BankingIndustry TrendsMarket Research

Women entrepreneurs who apply for business loans are more likely than men to be approved, Scotiabank survey finds

On its first year anniversary, The Scotiabank Women Initiative™ releases new survey findings, expands program to Global Banking and Markets (GBM) TORONTO, ON–Women entrepreneurs who apply for business loans may fare better than they expect, according to survey results released today by Scotiabank on the first anniversary of The Scotiabank …

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Business BankingEntrepreneursMarket Research

CFIB Survey asks “Where do Canada’s small businesses bank?”

RBC, Scotiabank remain the most used banks by entrepreneurs, but smaller institutions gained ground TORONTO, ON–With a market share of 20 per cent, Royal Bank of Canada continues to be the most used bank by small and mid-sized businesses while the smallest businesses, those with fewer than five employees, primarily …

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Business BankingEntrepreneurs

CIBC adds 200 specialized advisors, new technology to support Canadian entrepreneurs

TORONTO, ON–CIBC added more than 200 business banking specialists in the last 18 months in support of its relationship-based strategy that focuses on helping business owners achieve their ambitions. In addition to expanding its dedicated business advisory teams, CIBC has equipped its advisors with market-leading tools to support entrepreneurs at …

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Business BankingBusiness Borrowing & Lending

Maple Leaf Foods, BMO Capital Markets make First Sustainability-Linked Loan in Canada

Reflects shared commitment to sustainable future and carbon neutrality TORONTO, ON–BMO Financial Group has provided Maple Leaf Foods Inc. with the first sustainability-linked loan in Canada. The amendment to the existing credit facilities will allow Maple Leaf Foods to reduce the interest rate on the lending facility if it meets …

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