What Is Peer to Peer Lending (P2P)?
What Is Peer-to-Peer Lending and How Do Peer-to-Peer Loans Work? Peer-to-peer lendings is a relatively new model of online lending in the financial services industry, but the idea behind this innovative form of fintech-based financing really isn’t that new at all. When we strip away the modern technology around some of the most successful peer-to-peer lending platforms that have launched
What Is Legacy Modernization?
What Is Legacy Modernization in Banking? Banks are under a lot of pressure these days. We’re not talking about the normal business pressures that financial institutions are accustomed to, either. Those typical stakeholder pressures to reduce operating and IT costs and increase profit margins, all while battling consistently low interest rates—that’s just a part of the business. There is a
How Do You Create a Cloud Migration Plan for a Bank?
Why Migrate in the First Place? A Cloud Migration Plan Can Help Banks Set Expectations, Mitigate Risk, and Calm Some Nerves When it comes to the type of change that’s involved with cloud migrations, decision-makers of Canadian banks are a little like overprotective parents. You know the type. They like to hover close by, keep an eye on things, always
Cloud Migration | Why Do Banks Need to Move to the Cloud?
Why Cloud Migration in Banking Isn’t Just a Side Conversation Around Digital Transformation Cloud banking has an unquestionable and underestimated potential to completely transform a financial institution. But it feels like we hardly ever talk about it. It hasn’t claimed the spotlight for any prolonged period of time in online tech or finance publications like other fintech topics often do.
Auto Lending | Rising Price of Vehicles Creates Demand
There Is Rising Demand in the Canadian Auto Lending Market Despite a worldwide pandemic, rising unemployment rates, and levels of household financial anxiety that many of us have never witnessed before, there’s not only hope for auto lenders—but there appears to be a growing opportunity in Canada’s auto lending market. Next to securing a mortgage and buying a home, it’s
What Happened to Revolut Canada & Why Is the Neobank Leaving?
What Happened to Revolut in Canada & What Does It Mean for Other Canadian Neobanks? If you look around online this week, you might still see it: Revolut Is Coming to Canada! Unfortunately, like an empty storefront whose owners left town seemingly overnight without removing the signs from the windows, those words are just the abandoned remnants of the incredibly
Open Banking Regulations Are Encouraging Competition in FinTech
Open Banking Regulations Are Encouraging Competition & Innovation in Financial Services Whether we’re talking about the amended Payment Services Directive (PDS2) in the European Union, the Consumer Data Right (CDR) in Australia, or consumer-directed finance here in Canada, there’s an underlying trend in the financial services industry that’s gaining momentum beyond geographical borders: Financial regulators are taking calculated steps toward
What Is the Revised Payment Services Directive (PSD2)?
What Is the Revised Payment Services Directive EU (PSD2)? The Revised Payment Services Directive (PSD2) is a European electronic element payment services regulation intended to make electronic and online payments more secure throughout the European Union. Initially proposed in 2013 and officially taking full effect on September 4, 2019, the PSD2 amendment introduced changes in the European financial landscape that
FinTech Disruption during the COVID-19 Pandemic
There’s a Different Kind of Disruption in FinTech This week was supposed to be different. I had plans. I was supposed to be researching the roots of consumer-directed finance in Europe and taking a close look at the regulations paving the way for open banking in the United Kingdom. Enthralling, right? I was reading news articles, downloading documents, and combing
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