Resources
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 (PSD2)? The Revised Payment Services Directive (PSD2) is a European electronic 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 arguably set
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’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
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
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
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
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
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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