EWA start-up ZayZoon secures $34.5m in Series B funding round
The round was led by Framework Venture Partners, with participation from additional investors.
Canada
The latest fintech news, resources and expert analysis in Canada by the leading intelligence provider for the worldwide fintech community.
Sibos 2023: BMO taps DailyPay to offer earned wage access to commercial clients
The news was announced at the Sibos conference, which is being held in Toronto, Canada, this year.
Sibos readies the industry to unlock the full force of AI
A variety of compelling panels led the event’s narrative on one of this year’s most trending topics.
Sibos dreams of a T+1 settlement utopia on eventful day three
Panels at this year’s Sibos have discussed the benefits of T+1 settlements across all global capital markets.
Sibos 2023: Mapping the Canadian fintech story
With Sibos 2023 taking place in Toronto, Canada, we take a look at the country’s growing fintech scene.
Sibos highlights ISO 20022 as key enabler of financial innovation
Experts at Sibos evaluated how enriched data is enabling innovation in AI and the rise of predictive analytics.
Sibos 2023: Cross-border payments dominate day one of Sibos with Swift-Wise partnership announced
The new partnership comes amid a host of Swift-led panels at Sibos focused on payment innovations.
Sibos 2023: Canada’s Scotiabank taps CGI to advance payments solutions
CGI says its All Payments solution is “a tech stack based on the ISO 20022 standard” used by financial services firms globally.
Sibos 2023: How data enables the paradigm shift to accelerated settlements
SmartStream’s Vincent Kilcoyne explains why the success of accelerated settlements hinges on quality data.
BMO seeks to modernise payment flows through Modern Treasury partnership
BMO is looking to improve high-volume payment flow management for its commercial banking clients.
Recharge taps gaming payments with Startselect acquisition
Recharge plans to close two to three more acquisition deals in the next 12 months.
OTPP snaps up Caledonia Investments’ majority stake in wealth management firm 7IM for £255m
Caledonia Investments bought 7IM in September 2015 for around £100 million.
Scotiabank shakes up senior leadership team with new appointments
Aris Bogdaneris joins from ING to oversee Scotiabank’s digital banking business Tangerine.
BMO Commercial Bank taps Extend to launch corporate spend management app
BMO is the first global Mastercard issuer to offer contactless virtual cards through Extend.
LemFi bags $33m in Series A funding round to fuel global expansion
LemFi was founded in 2020 to provide immigrants with better access to financial services.
KPMG data shows steep drop in Canadian fintech funding in H1 2023
H1 2023 investment activity totalled $353.7m across 57 deals, down from $1.09 billion across 87 deals in H2 2022.
US crypto exchange Coinbase expands into Canada
The move comes amid major regulatory enhancements for crypto set by the Canadian financial regulator.
Canadian Tire Bank to move to Temenos Banking Cloud
CTB will utilise the Temenos Banking Cloud to replace its legacy core systems and move to a SaaS model.
James Dixon named as new Allied Payment Network CISO
Dixon intends to “ensure fast and secure payments” and bolster Allied’s information security practices.
US paytech Fortis expands into Canada, acquires SmartPay
The move marks Fortis’ first expansion outside the United States.
Payments Canada further delays launch of real-time payment system
During the next three months, Payments Canada will review the risks identified in the delivery of the Real-Time Rail.
Wealthtech OneVest secures CA$17m in Series A funding
It will use the funding to accelerate growth, expand into the US market, and to expand its team.
Canada’s Interac appoints Jeremy Wilmot as new CEO
Wilmot succeeds Mark O’Connell, who will be retiring on 31 October 2023.
Mastercard announced as headline partner of Open Banking Expo Canada 2023
Open Banking Expo Canada is taking place in Toronto on 15 June 2023.
Binance set to withdraw from Canada citing new guidance
Binance says it is joining other “prominent” crypto businesses in “proactively withdrawing” from Canada.
TD Bank nixes First Horizon merger citing regulatory approval delays
The merger has been mutually terminated and TD Bank has agreed to fork out $200m in cash to First Horizon.
Microsoft taps Stripe, PayPal and GoDaddy to launch payments on Teams
North American businesses will be able to accept real-time card payments directly on the Teams platform.
BMO Financial Group names Darrel Hackett as new US CEO
Hackett was most recently president of BMO’s wealth management division in the US.
Blockchain infrastructure platform Paxos to pull out of Canada
Customer accounts without funds will be closed on 9 May, Paxos says.
Crypto exchange OKX set to pull out of Canada citing “new regulations”
OKX says the move is “temporary and we are working with regulators to solve this issue”.
Banking Tech Awards 2022 Winner: Car IQ – enabling secure, seamless vehicle payments
Targeting the $650bn market: Car IQ enables vehicles to transact securely with merchants and service providers.
Canada’s Versapay names Carey O’Connor Kolaja as new CEO
O’Connor Kolaja replaces former CEO Craig O’Neill, who is set to move to an advisory role within the firm.
Canadian insurance and investment fintech Equisoft lands $125m in funding
The funding saw participation from new investors Investissement Québec and the government of Québec.
Canada’s securities regulator tightens rules for crypto exchanges
The CSA has laid out enhanced investor protection commitments it expects from exchanges operating in Canada.
Stripe unveils Tap to Pay for Android devices
Tap to Pay allows businesses to accept contactless payments using an NFC-enabled Android device.
Laurentian Bank launches new credit card programme with Brim Financial
Laurentian Bank says the new credit card programme will “enhance the overall experience” of its customers.
Canada’s Jobber secures $100m in Series D funding round
Jobber’s SaaS solution enables small businesses to accept credit card payments and send invoices.
ICYMI fintech funding round-up: Ascendant, Evergreen, Kwara, Pilon & more
Featuring Ascendant, Evergreen, Komunal, Kwara, Pilon, and Sprinque.
Clearco lays off 30% of workforce, CEO Michele Romanow resigns
Romanow will reportedly transition to the role of executive co-chair and remain on the company’s board.
Nuvei to acquire Paya for $1.3bn
With Paya’s acquisition, Nuvei expects to capitalise on domestic and global payments opportunities.
