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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …