Latest Articles
19
May
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.
20
Apr
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’sRead more
7
Apr
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
10
Mar
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
19
Feb
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
28
Jan
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
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
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
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
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
in Stouffville, Canada