What’s fuelling the Bitcoin bus?
By Andrew McCormack Since the introduction of Bitcoin in 2009, cryptocurrencies have had their share of media frenzy. Even Facebook has gotten in on the action, recently unveiling its Libra digital coin. But Bitcoin was the first, it’s the biggest and with the help of new players on the market, …
What it means for Canadians
By Brendan Read Open banking promises to provide Canadian consumers and businesses with the ability to control the use of their banking data and access digital banking tools or financial technology (FinTech) services, according to Senator Colin Deacon. He is a member of the Standing Senate Committee on Banking, Trade …
Visa x Payment Rails
By Peter Misek Earlier this year, FinTech and artificial intelligence (AI) startups across Canada presented their innovative solutions for the payments industry at the Visa-sponsored Future of Payments Pitch Battle, as part of the Canadian Fintech Summit (www.fintechsummit.ca). Amongst 14 startups across a wide range of sectors, one company stood …
The measured evolution
By Meenaz Sunderji A recent report released by the Standing Senate Committee on Banking, Trade and Commerce warned that Canada is at risk of falling behind if the country fails to create a regulatory environment conducive to open banking. The report called for the federal government to move forward with …
Removing the payments boundaries
By Brian Weiner The experience of buying and selling has fundamentally changed and there is no sign this will stop. Payments are no longer being constrained by current wire payment infrastructure, thereby opening up possibilities for people even in the most remote parts of the world and giving them access …
Rebooting international payments
By Lindsay Mulligan It’s difficult for banks to distinguish themselves in today’s digital world. With technology evolving at the speed of light, customer expectations are high, and it is incumbent upon financial institutions (FIs) to provide their clients with the latest technology if they wish to obtain, and retain, their …
Prepaid sparks FinTech innovation
By Jennifer Tramontana Prepaid currently plays a valuable, though unassuming, role in Canada’s financial ecosystems. With $4.3 billion loaded onto open-loop prepaid products in 2018, reports the Canadian Prepaid Providers Organization (CPPO), prepaid is rising from the shadows as more consumers, businesses and governments discover the convenience and security of …
It’s a matter of trust
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 …
Disrupting the payments ecosystem
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 …
Connections key for payments
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 …