Navro secures FMSB registration to provide money transfer services to businesses in Canada
Navro (formerly known as Paytrix) has also secured licences in the UK and Ireland (EU) this year.
Canada
The latest fintech news, resources and expert analysis in Canada by the leading intelligence provider for the worldwide fintech community.
Canadian fintech Neo Financial raises $258m in mix of equity and debt funding
The round comprised $78.9 million in equity and $179.3 million in debt.
US BNPL fintech Affirm launches pay-over-time options for UK consumers
Affirm’s UK country manager Ruth Spratt says the UK is “the perfect place for the next phase of Affirm’s journey”.
ICYMI fintech funding round-up: Brightwave, Mala, UnitPlus, Parachute, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
PSP Services buys NCR Atleos’ transaction processing and card management business in Canada
PSP Services says it will incorporate the business into its HLX Unified Commerce Platform.
Canada’s Koho launches in-app eSIMs with Boxo and Airalo
Koho’s 1.7 million Canadian customers will now be able to purchase eSIMs from within its app.
Canada’s Central 1 announces plans to wind down its digital banking business
The company says it will transition its digital banking clients “to one or more alternative digital banking providers”.
Wealthsimple launches in-app travel eSIM powered by Gigs
The offering operates as part of Wealthsimple’s new lifestyle rewards programme.
Canada’s imminent regulatory changes require PSPs to register
The Bank of Canada explains the new regulations for Payment Services Providers (PSPs).
TD Bank hit with $3bn in fines over AML failures
The $3.09 billion in total fines includes a record $1.8 billion penalty from the US Justice Department.
Erste Group in Austria partners Salt Edge for CEE multi-banking services
The bank is to leverage Salt Edge’s account information solution.
TD Bank Group president and CEO Bharat Masrani to retire next year
The group’s current head of Canadian personal banking, Raymond Chun, will succeed Masrani as CEO.
KORT Payments takes over POS provider Barnet Technologies to drive “aggressive expansion”
Barnet provides POS systems for cannabis dispensaries and liquor stores across Canada.
Master of all it surveys: a bit of background on WeMasterTrade, an award-winning prop firm
Staying true to the goal of providing a level playing field for traders of all stripes.
Canadian fintech start-up Hardbacon closes down
Co-founder and CEO Julien Brault writes that the fintech’s operations are now suspended.
Shift4 acquires Canadian fintech Givex
The acquisition is anticipated to close in Q4 2024.
Scotiabank buys 14.9% stake in KeyCorp for $2.8bn
The Canadian bank’s CEO says the deal “creates future optionality for Scotiabank in the North American corridor”.
ICYMI fintech funding round-up: Layer2, Qardy, United Fintech, Minos, and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
CIBC plans to hire for 200 new data and AI roles over the next 12 months
The new hires will be tasked with advancing “resilient and trustworthy AI solutions” across the bank.
Nuvei set to obtain licence in Brazil with proposed acquisition of Pay2All
The proposed acquisition will enable Nuvei to operate in Brazil as an electronic currency issuer.
BCI sells majority stake in Hayfin to Arctos Partners
Hayfin entered into an agreement with Arctos Partners “to support a management buyout of the business”.
Rabobank taps Zafin to upgrade pricing, billing and invoicing capabilities
Zafin’s tech will provide a “consistent view of product, billing and invoicing information across all channels”.
Merrco Payments rebrands to KORT Payments with new managing team led by Paysafe founders
The rebranding comes after Merrco’s successful capital raise in June.
Innovation Federal Credit Union names Jason Cinq-Mars as new CIO
Cinq-Mars will oversee the credit union’s information, technology and security functions.
Payments Canada concludes search for new CEO with Susan Hawkins appointment
Hawkins has served as a member of Payments Canada’s board since 2020.
Canadian credit union Vancity lays off 7% of workforce
The cuts, actioned by president and CEO Wellington Holbrook, have resulted in the loss of almost 200 positions.
Canada’s Haventree Bank partners Temenos for new core banking platform
Haventree serves the Canadian alternative mortgage sector through the broker network.
Raiffeisen Bank International opts for Surecomp’s collaborative trade finance platform
The Austrian bank will utilise RIVO to digitise its processes for guarantees and letters of credit.
Canada’s Vancity taps Intellect Design Arena for digital engagement upgrade
Vancity has selected the vendor’s DEP and CBX solutions to digitise member engagement.
DZ Bank partners Surecomp for collaborative trade finance platform
DZ Bank acts as a central bank to more than 700 cooperative banks in Germany.
Koilink Technologies to launch equities trading app in Q4
The start-up has also confirmed its intended stock market debut on the Chicago Board Options Exchange.
Moldindconbank taps Salt Edge for PSD2 compliance in Moldova
Moldindconbank is to leverage the vendor’s open banking compliance solution.
Former Temenos execs found GenAI banking tech start-up, yPilot
Based in Vancouver, Canada, yPilot says it “leads the way in AI innovation for banks and credit unions”.
Canadian fintech Zafin appoints Michael Nitsopoulos as new CPO
Nitsopoulos brings over 23 years of experience to the role and joins from US financial services giant PNC.
Business banking start-up Relay raises $32.2m in Bain Capital Ventures-led Series B
The Relay platform is designed to “help small businesses take control of their cash flow”.
Former Stripe exec Gang Wang joins Nuvei as CTO
Wang succeeds Max Attias, who is transitioning to the role of CIO.
AI-powered regtech Cube acquires global regulatory intelligence enterprises from Thomson Reuters
Through this acquisition, Cube aims to “set a new bar for the industry in regulatory automation”.
Broadridge acquires Securities Industry Services business from Kyndryl
Kyndryl will provide the SIS business operated under Broadridge Canada with managed services.
President’s Choice Financial taps Temenos for retail core banking solution
PC Financial will adopt Temenos’ retail core banking solution as SaaS on Microsoft Azure.
CIBC Mellon taps Duco for AI-powered data automation tech
The firm will leverage Duco’s tech to “manage data effectively while reducing operational risk”.
