Weekly FinTech & Financial News
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April 6-10, 2026
Top FinTech Updates this Week
🤝Nmbr, Canada’s embedded payroll infrastructure provider partnered with Paiday, Ottawa-based firm-first payroll platform to power a payroll experience built specifically for accounting firms
🤝 iFinance Canada, Toronto-based financing solutions provider for SMBs partnered with Neo Financial, Calgary-based Challenger Bank to provide eligible Neo customers with access to personal loans through iFinance's digital lending platform
🤝 AllScale, Vancouver-based a self-custody stablecoin neobank is partnering with Bravo Rewards, Richmond-based mobile dining app allowing diners to experience restaurants using stablecoins like USDC, even without wallets
🌟 Neo Financial, Calgary-based Challenger Bank is joining the Interac e-Transfer service as a Participant following the recent 'broadening of access' to the service for qualified Payment Service Providers (PSPs)
🚀 Cash App, the peer-to-peer FinTech app owned by Block Inc, launched a new “pay-over-time” deferred payment feature for P2P transfers
🚀 Relay, Toronto-based business banking and money management platform launched Relay Capital, bringing flexible funding into the account where business owners already manage their finances
🚀 HSB Canada, Toronto-based insurance firm introduced a new AI liability insurance coverage that protects businesses from lawsuits resulting from the use of AI technologies
Top Financial Institutions Updates this Week
🌟 BMO established, the BMO Institute for Applied Artificial Intelligence & Quantum
🌟 First West Credit Union, Langley Twp, BC-based credit union becomes a federally regulated credit union and officially rebranded as Tru Cooperative Bank
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It allows eligible users to pay for their everyday transfers over an extended period of time. To take advantage of the new feature, users pay a 7.5% fee — meaning that, if one borrow $100 from Cash App,they're going to end up paying the company back $107.50. Repayments can be made in weekly increments over a period of up to six weeks or as a single payment at the due date. There are also loan limits to the new system, but they are dynamic — meaning that they will be different for different users. | TechCrunch
Through the partnership, Paiday is using Nmbr’s embedded payroll infrastructure allowing compliant payroll to run directly within the systems firms already use to manage clients. Together, Nmbr and Paiday are bringing a made-in-Canada approach to modernizing payroll that reflects the realities of Canadian businesses, regulatory requirements, and the professionals who support them. | Newswire
Intelligent Commerce Connect acts as a network, protocol, and token vault-agnostic ‘on ramp’ to agentic commerce for agent builders, merchants, and enablers. Through a single integration via the Visa Acceptance Platform, Intelligent Commerce Connect enables secure payment initiation, tokenisation, spend controls, and authentication. The solution integrates both Visa Intelligent Commerce APIs, which are used to process agent purchases using Visa cards, and other networks’ APIs, allowing agents to pay with both Visa and non-Visa cards. | Fintech Finance News
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The proposed rule would establish a prudential framework for FDIC-supervised permitted payment stablecoins issuers, including requirements related to reserve assets, redemption, capital, and risk management standards. The proposed rule would also establish requirements for FDIC-supervised permitted payment stablecoin issuers and insured depository institutions (IDIs) that provide certain payment stablecoin related custodial and safekeeping services. In addition, the proposed rule would address the applicability of pass-through insurance to deposits held as reserves backing payment stablecoins and would clarify that tokenized deposits that satisfy the statutory definition of “deposit” would be treated no differently under the Federal Deposit Insurance Act than any other types of deposits. | FDIC
From invoicing and sales settlement to payroll disbursement, AllScale all-in-one interface makes the last mile of stablecoin payments effortless for small businesses. On the other side, Bravo Rewards, offers a digital network that helps restaurants fill tables with predictable revenue via discounts, cashback, and data insights. | Fintech.ca
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The partnership enables insurance brokers to quote, bind, and issue BOXX’s all-in-one cyber insurance and protection products through the mShift platform, helping agencies respond faster to growing demand for cyber protection among small and mid-sized businesses. By integrating BOXX’s cyber insurance offerings into the mShift Marketplace, brokers gain a more efficient path to placing coverage while delivering stronger protection to their clients. | Fintech Finance News
Designed for small and medium-sized companies, HSB AI Liability Insurance can pay for AI-related losses that some General Liability policies exclude, including bodily injury, property damage, and advertising injury for claims stemming from AI-generated advertising, marketing, blogs, and social media. HSB AI Liability Insurance protects against key exposures for an organization’s use of AI including: Liability Due to Bodily Injury for lawsuits alleging a person is injured due to the insured’s use of AI; Liability Due to Property Damage for lawsuits claiming that property was damaged due to the insured’s use of AI and Personal and Advertising Injury Liability for legal actions claiming the insured’s AI tools violated a person’s right to privacy, slander and libel, or copyright infringement. | Insurance-Canada.ca
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This access allows Neo greater independence, more control over their customer experience and the flexibility to build new payment features on Neo's roadmap. As a RPAA-registered PSP, Neo is now positioned as a participant in Canada's digital payments infrastructure alongside major financial institutions. The Interac e-Transfer service is a cornerstone of the Canadian digital economy, with over 1.6 billion transactions processed last year. | Newswire
Through the collaboration, eligible Neo customers can apply for personal loans of up to $10,000 directly through iFinance's digital platform, with a fast online application, instant pre-approval decisions, and no impact to their credit score to check their rate. Key features include: Loan amounts up to $10,000; Simple online application process; Instant pre-approval decisions; Flexible repayment terms; No down payment required and Rate check with no credit score impact. | Newswire
Starting to roll out to customers across the UK from today, AIR moves beyond the traditional chatbot. Key highlights include: Intelligent financial management: Gain instant spending insights, effortlessly track investments, manage subscriptions, or freeze a lost card – all through a single, intuitive conversation; Comprehensive lifestyle companion: Beyond daily banking, AIR helps make travel easier and smoother, capable of tasks such as helping with trip budgets and purchasing Revolut eSIMs in-app; and Uncompromising privacy: Built with the same protection as the rest of the Revolut app, only accessing the data you already see, such as transactions, investments and cards. With a strict zero data retention policy, personal information is never stored by third-party AI partners or used for training external models, ensuring customers remain in control of their data. | Fintech Finance News
Customers can now prequalify for loans of $1,000 to $250,000 based simply on their Relay account activity.2 Loan applications are reviewed in minutes and if approved, businesses can see the funds land in their accounts in as little as one to two business days. The launch of Relay Capital marks the company’s entrance into lending solutions. Relay Capital is the frictionless lending solution that meets owners where they are by giving them easy access to capital so they can seize growth opportunities wherever and whenever they appear. | Relay
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Both verticals fall under the broader life sciences umbrella, which includes everything from biotechnology, like vaccines, to medical devices used in surgeries. BDC says the VC fund will provide “patient capital” that complements the private market for early-stage life sciences ventures, which can be more capital-intensive than software companies due to hardware costs and regulatory pathways. | BetaKit
BMO established, the BMO Institute for Applied Artificial Intelligence & Quantum
It is a new enterprise‑wide Centre of Excellence focused on the responsible innovation, application and governance of Artificial Intelligence (AI) and the development of Quantum capabilities. MO's Institute brings together expertise from across science, policy, ethics and commercialization to build on BMO's decades-long use of AI while advancing its Quantum ambitions to enhance client experiences, increase productivity and efficiency, and support long‑term growth, while maintaining strong governance and trust. | BMO
With federal continuance complete, regulatory oversight has moved from the B.C. Financial Services Authority (BCFSA) to the Office of the Superintendent of Financial Institutions (OSFI), placing Tru Cooperative Bank under Canada’s federal banking regulatory framework. The name Tru Cooperative Bank reflects the organization’s cooperative roots while clearly positioning it as a credible alternative within Canada’s financial system that can match the capabilities of larger banks while operating under a cooperative, member-owned model focused on members’ financial well-being. | Globe Newswire
The new enhancements to Scotiabank's Canadian mobile banking app include features designed to help clients bank faster and more securely: AI-Powered Predictive Payment Prompts; Built-In Protection Against Scams and Fraud and Clients can now manage their cards on their own terms. These enhancements reflect Scotiabank's ongoing commitment to delivering secure, seamless, and client first digital banking experiences. | Scotiabank
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