Latest Articles

21
Jan

What’s the Difference between Open Banking and Banking as a Service (BaaS)?

Spot the Differences: Open Banking & Banking as a Service I do a bit of grade one work these days. It’s not that much, really. A little more than usual, though. Actually, I really shouldn’t take any real credit for it because I can’t say with any level of confidence that I personally do the work—my daughter takes care of

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13
Jan

What is an RESP?

What Is an RESP? It’s the question we all wished our parents had asked at any point during the nearly two decades before we innocently packed up our torn Levi’s and White Stripes CDs and headed off to study at one of the most expensive universities, in one of the most expensive Canadian cities, where we would spend the next

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28
Dec

What is a Neobank?

An Introduction to Neobanks Neo is one of those word forms that acts as a kind of Game Genie to other words. If you’re missing the reference here, let me help. Game Genie was a popular line of videogame cheat cartridges from the 1990s that you would attach to other videogames. It allowed users to modify a pre-existing game, manipulate

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18
Dec

What is a Challenger Bank?

Why Are Some Banks Called Challenger Banks?     There are all sorts of names for types of banks these days. We have challenger banks and neobanks and Banking as Service banks or BaaS banks. It’s not like it used to be when a bank was just a bank and things were black and white. No, things are changing! Banking

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25
Nov

What Is BaaS?

What Is Banking as a Service (BaaS)?   No, it’s not a freshwater fish—you’re thinking bass. It’s OK, you’ve probably been locked inside for months like the rest of us, so it’s perfectly fine if you’d rather fantasize about fishing right now. You know what, let me help: Here’s a moss-covered cabin deep in the woods, the smell of pine

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11
Nov

What is a White-Label Bank?

What Is White-Labeling in Financial Services? White-labeling is where companies take third-party manufactured products, throw their own label or brand on it, and market the products as their own. It happens everywhere. You might not know when you encounter a white-label product, but you’re not supposed to know. That’s entirely the point. Sometimes called private-labeling, white-labeling gives brands an opportunity

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29
Oct

What Is a Schedule I Bank?

What is a Schedule I Bank in Canada?  It’s OK to admit that maybe there’s a point where your understanding of the banking landscape kinda-sorta-slips-away-from-you. Maybe you know a thing or two about investment banking. Maybe you’re even a bit of a specialist in personal investments at your firm. The kind of person everyone goes to for advice on the

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26
Oct

What Is Deposit Insurance and CDIC’s Fast Insurance Determination?

What Happens When A Bank Fails? Your money isn’t available. Yes, that’s right. It probably comes as a bit of a shock. Your banking app is down, too—that’s just a part of this whole thing. You read the message, though, right? I think it says something like, your financial services are not available. Not very helpful, is it? They should

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22
Oct

What is a Guaranteed Investment Certificate (aka Term Deposit)?

Safe and Simple Investing with Guaranteed Investment Certificates (GICs) Imagine taking a handful of cash, digging a small hole in your backyard, and planting that cash in the ground. You pat the soil with your shovel. Wipe the sweat from your forehead. Sure, it may seem a little insane. Maybe the neighbours start talking, but it doesn’t faze you. You’re

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15
Oct

What Are Nominee Name GICs and How Are They Different than Client Name GICs?

What Are Nominee Name GICs and How Are They Different than Client Name GICs?  Let’s be honest. GICs aren’t the most exciting investment options out there. That shouldn’t come as a surprise. I mean, have you ever sat and watched a tree grow? Of course not. And investing in GICs is kind of like that. You put your money into

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