Fintechs Canada and Wealthsimple are welcoming a federal proposal to ban investment account transfer-out fees, while urging provinces to extend similar protections to financial providers they oversee. [Read more…] about Fintechs Welcome Ottawa’s Proposed Ban on Investment Transfer Fees
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Wealthsimple Unveils Penny AI Assistant in Major Product Expansion
Wealthsimple is introducing an AI assistant that can help Canadians move money, place trades, and manage everyday financial tasks—with client approval required before it takes action. [Read more…] about Wealthsimple Unveils Penny AI Assistant in Major Product Expansion
Mako Powers Digital Client Onboarding at Odlum Brown
Montreal-based Mako has launched a custom digital onboarding solution with Odlum Brown, connecting client account opening directly to the independent investment firm’s Dataphile book-of-record system. [Read more…] about Mako Powers Digital Client Onboarding at Odlum Brown
Bank of Canada Opens Consultation on Open Banking Accreditation
Canadian fintechs have until December 8 to weigh in on proposed accreditation guidance that will help shape participation in the country’s consumer-driven banking framework. [Read more…] about Bank of Canada Opens Consultation on Open Banking Accreditation
Adyen Finds Cash Flow Gaps Put Canadian Small Businesses at Risk
Canadian small businesses face potential cutbacks and closures if they cannot access funding, according to new research from payments platform Adyen. [Read more…] about Adyen Finds Cash Flow Gaps Put Canadian Small Businesses at Risk
CIBC Adopts Vault Core Tech from Thought Machine to ‘Raise Bar for Banking in Canada’
Earlier this year, CIBC co-led Thought Machine’s Series E funding round earlier this year with a £30 million investment. [Read more…] about CIBC Adopts Vault Core Tech from Thought Machine to ‘Raise Bar for Banking in Canada’
RBC Bolsters ‘Dollars + Sense’ Program to Enhance Financial Literacy Education
Most Canadians value financial literacy, but the skill is not being trained sufficiently. [Read more…] about RBC Bolsters ‘Dollars + Sense’ Program to Enhance Financial Literacy Education
Webull Integrates AI Tech to Put ‘Powerful Tools Within Reach’ of Investors
Webull is deepening its technological integration through ChatGPT, Perplexity, Claude, and Grok. [Read more…] about Webull Integrates AI Tech to Put ‘Powerful Tools Within Reach’ of Investors
RBC to Block Third-Party AI Agents From Online Banking
RBC is blocking third-party personal AI agents from directly accessing its authenticated digital services, including online banking, citing security, privacy, and fraud risks. [Read more…] about RBC to Block Third-Party AI Agents From Online Banking
APX Lending Plans Bitcoin-Backed Mortgages for Canadian Homebuyers
Toronto’s APX Lending plans to introduce Bitcoin-backed mortgages in Canada, giving eligible homebuyers a way to put their cryptocurrency holdings toward a home purchase without selling them upfront. [Read more…] about APX Lending Plans Bitcoin-Backed Mortgages for Canadian Homebuyers