Business BankingIndustry Trends


by Sandrine Garin, CPO at Intix After several false starts, Canada finally appears to be on the path towards the widespread adoption of ISO 20022, the international standard for electronic data interchange in financial services. At the time of writing, Canadian businesses are in the midst of embracing this standard …

Business BankingIndustry TrendsMarket Research

New survey data highlights potential for Canadian SMEs to increase efficiency

More than half (60 percent) of businesses believe that they will struggle to survive if they they do not embrace digital technology EDMONTON, AB–Canadian Western Bank (CWB) released its new study: Modernizing cash flow management, how technology supports growth among Canada’s small and medium-sized businesses. The report reveals that almost …

Business BankingConsumer BankingFall 2023 Issue

CIBC ranked #1 in the J.D. Power 2023 Canada Small Business Banking Satisfaction Study

TORONTO, ON–CIBC has received the highest score in customer satisfaction among the big 5 Canadian banks, according to the J.D. Power 2023 Canada Small Business Banking Satisfaction Study. The study reflects feedback from more than 2,300 Canadian small business banking customers, and measures their experience with their bank’s ability to …

Business BankingFinTechPayments

Float Takes On Canada’s Big Banks With The Launch of Its Next Generation Corporate Card

TORONTO, ON–Float, one of Canada’s fastest growing fintechs, announced the release of Float Cards 2.0, its next generation of corporate cards, providing Canadian businesses with more flexibility and control over managing team spending, all while reducing administrative headaches and the risk of fraud. Float’s newest corporate cards, available in both …

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 …

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 …

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 …

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 …

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 …

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 …