Quovo lands funding to expand to Canada
The new investment takes Quovo’s total funding to $20 million.
Canada
ATB Financial outsources bill paytech to Central 1
Central 1 Credit Union has signed ATB Financial for its Bill Payment Processing Services.
Equiniti Riskfactor gains foothold in Canada
Equiniti Riskfactor has gained its first client in Canada – Baron Finance.
Allai allys with Flinks for insurtech and AI
Canadian start-ups combine in clever collaboration.
Agreement Express lands investment from Frontier Capital
Account onboarding specialist Agreement Express receives its second round of funding.
RBC first Canadian bank to open API developer portal
Royal Bank of Canada is initially offering five API packages.
BMO launches banking chatbot with Finn.ai
The new chatbot – BMO Bolt – is available via Facebook Messenger.
Snapsheet teams with Aviva Canada for virtual insurance claims
This marks Snapsheet’s first step into the Canadian market.
Kawartha Credit Union picks Fiserv’s DNA for revamp
Ontario-based organisation has opted to replace its Acumen core processing platform.
Stack selects i2c for new mobile payments platform
Toronto-based challenger Stack still in private beta – scheduled to launch publicly early this year.
NetGuardians signs first customer in North America
Canada’s FirstOntario Credit Union looks for help in fight against fraud and cybercrime.
Amazon taps 20 locations as finalists for second HQ
It’s the hottest competition since “The Bachelor”.
TD Bank deeper in AI mix with purchase of Layer 6
Ta-da! Making its intentions clear with acquisition of Toronto-based artificial intelligence (AI) company.
Motor City Community Credit Union in core banking tech revamp with Fiserv and Celero
Motor City Community Credit Union (MCCCU) will migrate to Fiserv’s DNA core banking platform.
Financeit recapitalisaton gives Goldman Sachs majority stake
Point of sale (POS) financing provider Financeit completed an investment round with existing shareholder Goldman Sachs
Cisco study finds an IoT data paradox
People like what IoT does, but don’t trust firms with the data that sensors and connected devices collect.
FI.SPAN partners with Beanworks to build B2B payments hub
FI.SPAN will provide pre-integrated third party fintech solutions into the hub.
nanopay launches B2B payment platform
Canada-based payments platform nanopay has unveiled its new B2B payments solution for international trading.
Tungsten Network and BNP Paribas e-invoicing takes away pain in supply chain
Tungsten Network will work with BNP Paribas to offer e-invoicing linked receivables purchase and e-invoicing linked supply chain finance (e-SCF) to large corporates in the US and Canada.
Integris Credit Union in core banking tech revamp with Validata
Canada-based Integris Credit Union has deployed Validata’s suite of products to support its transition to Temenos’ T24 core banking system.
Infographics: CPPO study reveals Canadian prepaid market grew 17%
The Canadian Prepaid Providers Organization (CPPO) released its second annual benchmark study, “Canadian Open-Loop Prepaid Market: 2016”, that shows 17% growth of the open-loop prepaid card market in Canada between 2015 and 2016.
BMO Financial Group injects $2m into Montreal AI lab
BMO Financial Group is putting $2 million into Creative Destruction Lab Montreal (CDL-Montreal) to fund artificial intelligence (AI) and data science projects. CDL-Montreal will target seed-stage start-ups by providing business and technology mentoring, equity opportunities and business development partnerships. On 15 December, the first cohort of 28 businesses, made up entirely of AI start-ups, will […]
RBC to open AI lab in Montreal
Borealis AI, a Royal Bank of Canada (RBC) Institute for Research, will open an artificial intelligence (AI) lab in Montreal. Borealis AI has partnered with McGill University Professor, Jackie Cheung, as academic advisor for the lab and will work with the Montreal Institute for Learning Algorithms (MILA). The team anticipates opening the doors of the […]
Canada’s Competition Bureau calls for fintech feedback
The Competition Bureau in Canada is seeking feedback on the nation’s financial services and fintech sector. Like many other regulators around the world, the bureau has published a draft report on its market study concerning technology‑led innovation. John Pecman, commissioner of competition at the Competition Bureau, says: “The future is now. Let’s get it right […]
Top fintech stories this week – 27 October 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
“World’s first” full-featured virtual banking assistant on Facebook Messenger launched by ATB Financial
Canada’s ATB Financial says it has launched “the world’s first full-featured virtual banking assistant on Facebook Messenger” to the bank’s nearly 700,000 personal banking customers.
ATB Financial live on Murex treasury and capital markets tech
Canada’s ATB Financial has gone live with a new treasury and capital markets (TCM) solution, MX.3, supplied by Murex. The solution is delivered on a Software-as-a-Service (SaaS) basis.
IBM teams with Dream for payments on the cloud
IBM has teamed with Toronto-based firm Dream Payments – bringing its cloud and security capabilities to help the firm offer mobile point of sale solutions and business-to-business (B2B) payments.
Wave brings business services to RBC’s online banking platform
Wave – a business financial management (BFM) solutions provider from Toronto – has signed a deal that will integrate its invoicing, accounting, and business financial insights technology into Royal Bank of Canada’s online banking platform.
National Bank of Canada joins SecureKey’s digital identity network
At the beginning of the year, SecureKey announced that it had won an $800,000 grant from the US Department of Homeland Security in support of the company’s development of a blockchain-based digital identity network. Today, the Ontario-based authentication specialist unveiled the latest institution to join that network: the National Bank of Canada, reports David Penn […]
La Caisse and Desjardins Group launch fintech and AI in finance fund
Canada’s La Caisse de dépôt et placement du Québec and Desjardins Group have set up an investment fund dedicated solely to the fintech sector and to artificial intelligence (AI) applied to finance.
Infographic: the world’s most cashless countries
What countries among the 20 largest economies are adapting quickest to using cashless systems like phones and contactless cards? New research (and nifty infographics) from global trading site Forex Bonuses reveals that Canada takes the top spot, narrowly edging out Sweden for the top position.
Top fintech stories this week – 29 September 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Big banks back Canada’s $150m digital ID system
Canada’s big banks have joined the charge for a CA$185 million ($150 million) digital identity supercluster bid that plans to solve the identification challenges of the digital economy. According to IT World Canada, Royal Bank of Canada (RBC), Bank of Montreal, Scotiabank, CIBC, TD Bank and National Bank of Canada – are on board, along […]
Sun Life looks for life with fintech start-ups
With the unveiling of its new corporate headquarters at One York Street in Toronto, Sun Life Financial has made it loud and clear it’s on the prowl for fintech start-ups. The super-shiny, 35-storey, 800,000 square foot office tower, is a mighty site/sight and will offer connection to Toronto’s Union (railway) Station and PATH network (i.e. […]
Royal Bank of Canada pilots AI-powered finance guide
Royal Bank of Canada (RBC), with the help of Personetics Cognitive Banking’s applications, will deliver two new services this autumn that provide AI-powered financial guidance and an automated savings programme through the bank’s mobile app. The development follows on from last month, when RBC unveiled these two digital services – called NOMI Insights and NOMI […]
STACK Taps Mastercard Prepaid for Challenger M-Banking App
There’s a new fintech challenger in town. Toronto-based STACK announced its partnership with Mastercard two weeks ahead of the beta launch of its mobile financial services app and companion prepaid card.
National Bank Investments signs for FactSet’s risk management tech
National Bank Investments (NBI), a subsidiary of National Bank of Canada, has opted for FactSet’s multi-asset class risk model, workstation, and analytics suite as its investment risk management and manager due diligence system.
Accenture acquires fintech consulting firm Verax
Accenture has acquired Verax Solutions, a Toronto-based technology and systems-integration consulting firm. Financial terms were not disclosed. Verax is a privately-owned company founded in 2003 that employs around 180 people at offices in Toronto and Halifax. Its service areas include IT strategy, enterprise architecture consulting, project and programme management, financial risk and compliance solutions, as […]
CIBC goes it alone with new Simplii Financial banking brand
Canada’s banking group CIBC has unveiled Simplii Financial, its new direct banking brand, signalling the end of its President’s Choice (PC) Financial consumer banking business with retailer Loblaw. Mike Boluch, EVP, direct banking, innovation and payments, CIBC, says Simplii will deliver “straightforward, no-fee everyday banking” and offer services by telephone, online, or through mobile and […]
