Max Levchin’s Affirm lands Shopify buy now, pay later deal
Affirm will power instalment payments for ‘Shop Pay’.
Canada
RBC commits CAD 150 million to diversity push
It aims to increase the proportion of non-white executive hires to 30% from 20%.
Canadian data aggregator Flinks lands $11.8m led by NAventures
The fintech is moving into wealth and expanding to the US.
Canadian and Taiwanese regulators sign fintech sandbox agreement
The regulators will build a “referral mechanism” between their fintech sandboxes.
Connect First Credit Union appoints former ATB exec as new COO
Wellington Holbrook promised earlier this year he wouldn’t be moving far.
Canadian data start-up Cinchy lands $10m Series A
The start-up helps banks avoid the security risk of replicating data.
IBM signs payments modernisation deal with 75 Canadian credit unions
Big Blue to outfit Canadian CUs across three provinces.
Cash deposit platform Flagstone lands £12m funding
Since 2015, Flagstone says it has facilitated £5 billion in deposits.
Currencycloud among first non-bank firms to offer Swift gpi payments tracking
TransferGo, Penta and Money Mover were early participants in the pilot programme.
Looking beyond the coronavirus trading boom
Some trading apps see their future in the saving market.
Mastercard’s Ethoca teams up with Microsoft to offer digital receipts
The Canadian firm has an ongoing partnership with Microsoft.
Canadian financial planner Finally to launch in May
“People don’t want to tell strangers how bad they’re doing with their finances,” says founder.
National Bank of Canada migrates Murex system to Amazon Web Services
Major Canadian bank shifts MX.3 to the Amazon cloud.
Finastra brings servers back online after ransomware attack
“A bad-actor was attempting to introduce malware into our network,” says firm.
Scotiabank commits to helping Canada’s emerging AI start-ups
The bank will give start-ups and tech entrepreneurs access to funding and expansion opportunities.
Interior Savings Credit Union picks Fiserv DNA
Canadian credit union shifts to new system to drive “flexibility”.
Challenger bank Copper latest to tap America’s teens
Copper is yet to reveal its launch date but has opened a waiting list to teens.
Money management app Emma bags $2.5m in seed funding
The fintech connects users’ bank accounts under a single dashboard.
ATB Financial’s digital bank Brightside launches in Canada
The neobank is focused on “making saving easy”.
Canadian challenger Neo Financial plans 2020 launch
Neo plans a credit card and rewards-based savings.
Canada’s RBC to create US digital bank for “super-affluent” consumers
It will arrive in the US later in 2020 or early next year.
How Canada’s Wealthsimple is building a whole financial suite
“We’re building a lifestyle brand,” says the fintech’s Europe CEO.
Edison Financial reboots itself to launch Canadian digital mortgage start-up
Founder Hash Aboulhosn restarts company to found new venture.
SaaS fintech Rimilia raises $15m from SVB and other investors
The investment brings the fintech’s total funding raised to $40 million.
Scotiabank donates CAD 750k to University of Ottawa AI research
Canadian bank launches research fund to develop AI and ML.
Desjardins signs multi-year contract with AI fintech Exagens
The 25-person fintech will continue to power the bank’s ‘Assistant AccèsD’.
Central banks in Europe, Japan and Canada assess potential digital currencies
Central banks in Canada, the UK, Japan, Switzerland, and Sweden are teaming up.
Canada’s RBC files patents for AI inventions as bigtechs soar
Ten AI patent applications were submitted by RBC across 2019.
Equifax’s 2017 data breach will cost firm at least $1.38bn
$380.5m is for breach compensation, and $1 bn for information security overhaul.
Canada’s major banks impersonated in two-year phishing campaign
The impersonators harvested customers’ online banking logins.
EQ Bank signs international payments deal with TransferWise
EQ Bank has integrated TransferWise’s API directly into their infrastructure.
Montréal’s FlexPay raises $6m in seed round
The fintech says 24% of recurring credit card transactions are falsely declined.
Canadian credit unions launch Interac Debit on Google Pay
Google Pay integration with Interac Debit allows users to pay with their phones.
CWB Financial Group selects Temenos Infinity for front office ops
The Canadian firm also deploys Temenos T24 in the core.
Portag3 Ventures closes $320m fund for early-stage investment
Venture capital firm plans to focus on the US and Canada, as well as overseas
Canada’s neobank Koho secures extra $18.8m in Series B to diversify investors
The round was led by Drive Capital and National Bank of Canada’s VC arm, NAventures.
CMFG Ventures hands BankBI Series A investment to tap US market
BankBi will use CMFG Ventures’ US credit union connections.
EQ Bank completes cloud-based Temenos core banking project
Bank finalises migration to the Microsoft Azure cloud.
Money20/20 USA: How Tangerine champions personalised digital banking with Meniga’s tech
From proof-of-concept to market launch, results, and lessons learnt.
Canada’s online brokerage Questrade plans banking licence
A trademark application was also filed back in October for Quest Bank.
