Weekly FinTech & Financial News
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April 27-May 1, 2026
Top FinTech Updates this Week
🌟 Canada is launching 'The Canada Strong Fund', a government-owned investment fund to pay for major development projects in the country
🌟 The federal government’s Spring Economic Update (SEU), entitled Canada Strong For All, outlines several initiatives designed to modernize payment systems
💼 Lightspeed Commerce, a Montreal-based payments processor is divesting Upserve, US-based hospitality product line to private equity firm Skyview Equity for up to US$81M (CA$111M) in cash
🚀 KOHO, Vancouver-based challenger bank enables its users to now buy, hold, sell, and manage cryptocurrency in partnership with regulated crypto exchange Ndax
🚀 Borderless AI, Toronto-based AI powered HR solution platform launched 'Crypto-Native Payroll', a new feature that allows employees to get paid in cryptocurrency
🚀 Tributary Public Risk, Calgary-based insurance solutions formally launched operations as the first Canada-domiciled insurance provider purpose-built to serve public sector organizations
🚀 Empathy, US-based technology company that helps individuals navigate life's toughest moments launches its digital legacy planning platform, Empathy LifeVault in Canada
🚀 Shakepay, Montreal-based crypto firm rolls out bitcoin-backed loans for 1.5M users
🚀 Buckler, a Toronto-based investment due diligence platform for wealth managers officially launched in Canada
🚀 Elect Capital, UK-based small business financing platform expands to Canada
🚀 Beacon, a Toronto-based purpose-built platform for Canadian immigrants launched Beacon Business, a modern business banking and cross-border payments platform built for Canadian businesses that need to send and receive money domestically and internationally
Top Financial Institutions Updates this Week
🚀 BDC launched a $500M “Lead with Innovation and Focus on Technology” (LIFT) initiative connecting SMEs with consultants who will help them figure out where AI can best be integrated into their businesses, then provides a loan to get it done
🚀 BMO unveiled the national U.S. rollout of a simplified Online Banking for Business (OLBB) experience designed specifically for small and midsized enterprises (SMEs) and Emerging Middle Market (EMM) clients
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It is the first provider in Canada to enable cardholders to transfer funds directly from a corporate prepaid card to a personal bank account. This new capability transforms prepaid cards from spend-only tools into flexible financial instruments giving cardholders real choice in how they access and use the funds loaded onto their card, whether those funds represent an incentive, a rebate, a reward, or a disbursement. | Newswire
The first of its kind, the launch comes in response to the UK’s fast-growing creator economy and is designed to give creators access to the financial tools they need to run and grow their business. During a TikTok LIVE, a creator is rewarded for their creativity through virtual gifts; creators can then convert the value of these gifts into diamonds, which can be exchanged for real income. This income typically arrives in bursts, rather than on a regular monthly salary, meaning short delays between earnings settling in their account which can make it harder to cover everyday costs or reinvest in their business. Visa and TikTok’s Creator Card and business account enable creators to access these earnings faster and spend money straight away, avoiding the delays that come with waiting for payouts to fully clear. | Visa
Borderless AI’s Crypto-Native payroll is a new way for talent to allocate their pay, a first step toward more flexible payout options for companies around the world. Borderless AI’s Crypto-Native Payroll brings flexible and transparent controls directly to employees' fingertips, all while ensuring companies remain compliant. Employees can now have full visibility into where their earnings go on one platform. Features include: Submit and manage contribution requests in one platform; See clear statuses for each request (e.g., In Review, Approved, Processed); Understand exactly when changes will apply based on payroll timelines and Update or stop contributions at any time before the payroll lock date. | Business Wire
The integration is now live and available to Nium’s clients, with Coinbase serving as the stablecoin payments and liquidity infrastructure, wallet provider and regulated custodian. Nium clients can now send and receive stablecoins and convert stablecoin to fiat for payouts – giving businesses a single, unified platform to transact across both onchain and fiat rails. Through this partnership, businesses can now: Fund cross-border payouts in USDC to optimize treasury liquidity and Launch USDC-backed card programs. | Fintech Finance News
The launch marks the latest step in Nuvei’s strategy to operate directly inside domestic payment ecosystems, giving businesses the ability to improve approval rates, increase visibility into transaction data, and reduce the complexity of managing payments across markets, all through a single platform. Nuvei now processes card transactions in Mexico through direct integrations with domestic infrastructure and global card networks, removing reliance on intermediary acquiring partners and reducing the number of payment relationships businesses need to manage across markets. | Fintech Finance News
The role includes overseeing the National Payment Fraud Services (NPFS) platform, which provides essential monitoring and alerting tools for the forthcoming Real-Time Rail (RTR); a first-of-its-kind implementation globally for real-time payment systems. Patrick Boudreau is a seasoned expert with more than 20 years of specialized experience in the fraud and identity landscape. He has held senior leadership positions at TransUnion, PC Financial, Equifax and RBC. Most recently, as Vice-President and Head of Identity Management and Fraud Solutions at TransUnion, he was a key thought partner within the broader fraud and FinTech ecosystem. | Payments.ca
Crypto-Native Payroll brings cryptocurrency alongside other traditional investment mechanisms, such as the ability to directly contribute a portion of an employee’s paycheque to an RRSP. Employees can now use Borderless to submit and manage their contribution requests, keep track of whether they’ve been approved, and update or stop their contributions at any time before payroll locks. With Crypto-Native Payroll, companies using Borderless can allow their employees to allocate a portion of their earnings to be paid in cryptocurrency before payroll is finalized. This eliminates the need for post-payroll transfers, eliminating friction while also lowering transaction and exchange rate costs. | BetaKit
The update recognizes the immense value of modernizing Canada’s critical payment infrastructure and advances key priorities that will strengthen Canada’s productivity and economic growth. This includes the government’s continued support for Canada’s Real-Time Rail (RTR) payment system. The RTR is made-in-Canada, transformational payment infrastructure that will deliver data-rich, real-time payments across Canada 24/7/365 for consumers, businesses, financial institutions and governments, enabling productivity, prosperity and financial inclusion. Payments Canada also welcomed the introduction of Bill C-29, An Act to establish the Financial Crimes Agency and to make consequential amendments to certain Acts and regulations. Payments Canada fully supports the federal government’s ongoing commitment to combatting fraud and financial crime. | Payments.ca
Key focus areas include: Support for the Real-Time Rail (RTR) and for engaging to accelerate development of future RTR capabilities | The SEU recaps progress to date in advancing the National Anti-Fraud Strategy and highlights the introduction of Bill C-29 in the House of Commons on April 27 to establish the Financial Crimes Agency to investigate serious and complex financial crimes, such as money laundering, serious fraud and major capital markets crimes and recover the proceeds of crime | Enforcement of Money Services Businesses (MSBs); Introducing new Ministerial Directive powers to safeguard national security and the integrity of the financial system; Expanding FINTRAC’s ability to refuse or revoke registration of MSBs; and more | Further engagement on stablecoin and tokenized assets | The SEU announces the government’s intention to launch a Whole-of-Government Competition Plan to ensure that competition is prioritized throughout the federal government’s policies. | Payments.ca
PayPal Store Sync is a catalog and order management solution that is designed to link merchant storefronts with emerging artificial intelligence (AI) shopping channels. An integration enabled by PayPal makes product data like pricing, images, descriptions, reviews and inventory instantly accessible to AI platforms, “where consumers increasingly begin their shopping journeys.” The integration makes Commerce merchants “discoverable and purchasable” on an expanding network of AI-powered shopping surfaces, such as Microsoft Copilot, Meta and Perplexity. | PYMNTS
The new agents can triage employee requests, source vendors, review contract terms and handle compliance checks. The company’s new AI agents reinforce this effort with their abilities to spot compliance risks and identify savings opportunities, The need for these sorts of capabilities has risen with the growing adoption of AI by businesses, because AI contracts are increasingly expensive and feature new kinds of pricing models. Ramp Procurement customers, on average, reduce their vendor costs by 16% annually and cut the amount of time spent on manual purchasing work by 46 hours per month. | PYMNTS
Today, Beacon Business lets eligible Canadian businesses fund locally in Canada and send payments to India using local bank details and local rails. That means faster delivery , transparent FX , no hidden fee surprises , and a much simpler experience than dealing with traditional international wires. Beacon Business accounts are powered by Nium Pte. Ltd., a global payments company registered in Canada as both a Money Services Business and a Payment Service Provider. Client funds are safeguarded with regulated financial institutions in Canada (currently JPMorgan Chase), enabling businesses to transact across multiple countries and currencies with faster settlements and competitive exchange rates. | Beacon
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Shakepay, Montreal-based crypto firm rolls out bitcoin-backed loans for 1.5M users
Through this new financial product, Canadian citizens will be able to access fiat capital by using their BTC holdings as collateral. Some details: 9.5% APR up to $50,000; the collateral provide will never be rehypothecated, no origination fees, no early repayment fees, 3% liquidation fee, and loans take a few minutes and funds are available basically instantly. | LinkedIn
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The program is meant to help Canadians SMEs “move from the sidelines of AI” and invest confidently in improving their business’s productivity. The federal crown corporation’s new program will provide loans ranging from $25,000 to $5 million, which can be used to buy digital tools that help the business’s productivity, data infrastructure, and cybersecurity, or even on hardware like advanced automation equipment and robotics. The loan comes with “quite advantageous conditions” for entrepreneurs, particularly if they choose a Canadian AI solution or system integrator. While it’s still possible for an SME to be supported by the LIFT program if they don’t choose Canadian, SMEs that do can receive a preferential interest rate of 2.25 percent. | BetaKit
The evolving conflict in the Middle East is causing heightened volatility and US trade policy continues to reshape global trade patterns. Both are ongoing sources of uncertainty. The Bank’s April outlook assumes tariffs remain unchanged and the global benchmark price of oil declines to US$75 per barrel by mid 2027. The Iran war has led to sharply higher energy prices and transportation disruptions, diminishing growth prospects in oil-importing countries and boosting inflation worldwide. Overall, the global economy is expected to grow by about 3% in 2026, 2027 and 2028. Projections for inflation over the next year are revised up because of the jump in energy prices. | Bank of Canada
The new platform is now accessible to SME and EMM clients, providing an easier-to-use online banking experience built for everyday business needs. Key benefits include: Purpose-built digital banking for small and midsize enterprises and Emerging Middle Market clients without full commercial complexity | Simplified payments and clearer cash‑flow visibility to support day-to-day operations | Straightforward user setup and controls designed for growing teams. The new platform is available through BMO's BusinessWorks U.S. pricing bundle, a turnkey banking solution that is designed with simplification and ease of understanding for SMEs, Emerging Middle Market, and business banking clients. | PR Newswire
The advisory committee, comprised of leaders representing extensive experience in business, investment, trade, and labour, will serve as a forum for expertise and strategy on all aspects of the Canada-U.S. economic relationship. As both countries approach key trade negotiations, Lisa's insights from her experience in the public and private sectors will support mutually beneficial outcomes. | CIBC
The series features interviews with global technology and business leaders on how organizations are approaching the application of quantum computing and artificial intelligence across their businesses. The series explores how leaders are moving beyond experimentation to integrate AI into decision‑making, governance, operating models, and talent strategies--highlighting leadership choices that shape real‑world execution. The debut episode with Mona Malone, Chief Administrative Officer, BMO, will explore the leadership, talent, and governance choices needed to responsibly scale advanced technologies while maintaining institutional trust. Focused on personalizing client experiences, augmenting teams, and automating operations, and guided by strong Responsible AI governance, the bank is advancing AI and quantum technologies at scale through the BMO Institute for Applied AI and Quantum. | BMO
These awards recognize RBC's leadership in empowering advisors and other client-facing professionals with digital and AI tools that enhance productivity, strengthen client relationships and drive business growth. By deploying AI capabilities in a safe, secure way, RBC aims to reduce time-consuming administrative tasks, creating more time to focus on high-value client interactions. By leveraging RBC's enterprise-wide global scale, Canadian market leadership and AI maturity, RBC is positioned to continue advancing digital transformation in wealth management while strengthening advisor-client relationships. This is critical to what both advisors and clients are looking for when choosing a wealth management firm. RBC Wealth Management views AI as a transformation opportunity for the industry, demonstrating how technology can accelerate advisor impact while preserving the essential human judgment and personal interactions that wealth planning requires. | RBC
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The new offerings provide streamlined access to broad, integrated coverage under a single policy form, helping reduce gaps and simplify placement while responding to the evolving environmental risk landscape faced by manufacturers and environmental service firms. This include: The Manufacturers Combined Form is designed for a wide range of manufacturing operations and integrates multiple critical coverages and The Environmental Contractors and Consultants Combined Form delivers comprehensive protection for firms providing environmental services. | Insurance-Canada.ca
Tributary Public Risk is established to address the distinct risk, governance, and procurement needs of municipalities, schools, crown agencies, and other public entities. Operating through licensed insurance brokers, the organization applies a data-driven underwriting approach supported by service standards aligned with public sector expectations. Tributary Public Risk offers insurance programs developed specifically for public sector applications, including Owner Controlled Insurance Programs (OCIP) for major construction projects, Job Order Contract Insurance Programs (JOCIP) for repair, renovation, and maintenance work delivered through job order contracting, and Parametric Insurance designed to provide rapid, predetermined financial support following defined disaster-related events. | Insurance-Canada.ca
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Elect Capital, UK-based small business financing platform expands to Canada
Elect Capital backs ambitious businesses across the UK, US and now Canada with fast, fixed-term funding designed for action. It provides 1–6 month fixed-term products offer daily or weekly repayments, with 90% of completed applications receiving an offer within 4 hours, a transparent pricing, sharp decisioning and zero unnecessary hurdles. | LinkedIn
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LifeVault provides a secure platform for legacy planning, making it possible for users to create and manage legally valid documents such as Wills, Powers of Attorney, and Advance Care Directives. Empathy LifeVault is an intuitive platform designed to help individuals organize and safeguard essential estate and financial documents, reflecting a broader shift toward technology-enabled planning that helps families prepare for complex life transitions and protect their loved ones’ assets through: The ability to create estate planning documents from the convenience of home | Secure, centralized storage and seamless sharing of financial information and essential documents, including province-specific estate documents like Wills, Trusts, and Healthcare Directives | Helpful tips and guidance to support conversations around legacy planning with family and Integration with life insurance benefits for ease of access. | Insurance-Canada.ca
Buckler delivers cutting-edge AI-driven software solutions tailored for highly regulated industries, enabling organizations to navigate and comply with stringent and prescriptive regulatory requirements with confidence and efficiency. | LinkedIn
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Ndax will power the trading infrastructure and be the custodian of the cryptocurrency in the back-end, allowing KOHO users to purchase more than 20 cryptocurrencies—including Bitcoin, Ethereum, and Solana—with their KOHO balance. KOHO Crypto doesn’t require money transfers to a separate account, and users can also deposit Bitcoin into KOHO from external wallets. KOHO will charge a 0.5-percent fee per trade for Koho members on its Everything plan, one percent for Extra and Essential plan members, and 1.5 percent for non-members. | BetaKit
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The platform, Lyriq, is designed for regulated financial institutions and has completed seven proof-of-concepts with financial institutions. The digital money Lyriq can handle includes tokenized deposits and digital currencies. To meet bank and regulatory standards, it has compliance, identity verification and audit controls embedded into the platform itself. The platform works with existing core banking systems from any technology provider, supports round-the-clock settlement and delivers transactions that either complete fully or fail cleanly, with no partial failures. | PYMNTS
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The operator of the Toronto Stock Exchange says the deal will expand its global presence and accelerate its growth strategy. Cboe Australia and Cboe Canada offer equities trading and listing venues and market data services. TMX Group says the deal will reduce complexity and costs for Canadian market participants and expand its reach in a key region that it knows well. The transaction is subject to regulatory approvals and customary closing conditions in Australia and Canada. TMX Group says the acquisitions of Cboe Australia and Cboe Canada are expected to close separately, each after required approvals have been obtained. | CTV News
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The transaction will pay Lightspeed $44 million USD up front, with the remaining $37 million subject to earnout over 24 months, based on performance targets. Now, as Lightspeed undergoes a transformation plan, the company said in a statement that it is actively trying to streamline its portfolio and focus on its “two core growth engines” of retail in North America and hospitality in Europe. As a US hospitality product, Upserve doesn’t fit in either of those buckets. | BetaKit
The update builds on some of last year’s budget commitments to the defence and innovation sectors, including updates on stablecoin regulation and making the employee ownership trust (EOT) tax incentive permanent. While the new national AI strategy is yet to be revealed, the Spring Economic Update outlined for the first time the six pillars that will inform that document. The first pillar focuses on protecting Canadians and “safeguarding democracy” through new privacy and online safety laws, the second on empowering Canadians with AI training, and the third on supporting AI adoption in small-to-medium-sized enterprises (SMEs) and in the public service. The fourth pillar, titled “Building the Canadian Sovereign AI Foundation,” will support building sovereign compute infrastructure and growing Canada’s AI research and talent pool. Pillar five will focus on “Scaling Canadian Champions,” by unlocking growth capital and leveraging the government as an anchor customer. The final pillar aims to align standards and co-invest in innovation with “trusted partners” while helping Canadian companies access global markets. The budget set forth a Buy Canadian Policy for the federal government, which the Spring Economic Update said is “already making a difference” with more than $520 million in contracts awarded to date. The Update also included plans to launch a new Small and Medium Business Procurement Program later this spring to “make it easier for Canadian firms to compete and win in federal procurements,” by modernizing digital tools and reducing barriers. | BetaKit
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