Weekly FinTech & Financial News
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August 24-28, 2026
Top FinTech Updates this Week
💰 Helcim, a Calgary-based payment processing platform for businesses closed a $53M CAD Series C funding round led by Business Development Bank's (BDC) Growth Venture Fund
🚀 Starling Bank, UK-based challenger bank launched an agentic AI-powered ‘Starling Assistant’ to all business customers
🚀 Revolut launched EURR, a euro-backed stablecoin that brings customers' local currency on-chain and issued by Bridge Building, a Stripe company
🚀 Boosted.ai, Toronto-based AI-powered investment research platform launched Alfa Prime, an agentic AI platform that uses a multi-model 'investment committee' to automate research and identify opportunities at twice the rate of traditional analyst workflows
Top Financial Institutions Updates this Week
🚀 Royal Bank of Canada (RBC) officially established Global Transaction Banking (GTB) as a unified global business, advancing RBC's role as a globally connected bank providing trusted expertise to help clients grow across borders
🚀 Scotiabank launched the new Scotia Momentum for business No Fee Visa Card, underscoring its commitment to Canadian businesses
🌟 TD Bank Group reported net income of $4.62B for Q3 2026, compared with $3.34B in Q3 2025
🌟 RBC reports net income of $6.0B for Q3 2026, compared with $5.4B in Q3 2025, a 25% increase
🌟 BMO Financial Group reports net income of $1,750M for Q3 2026, a decrease of 25% from $2,330M in Q3 2025
🌟 Scotiabank reports net income of $2,953M for Q3 2026 compared to $2,527M in Q3 2025
🌟 CIBC reported net income of $2.40B for Q3 2026 compared with reported net income of $2.09B in Q3 2025
🌟 National Bank reports net income of $1,307M for Q3 2026, up 23% from $1,065M in Q3 2025
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The round also included participation from new investors Curql Collective, a strategic investment fund backed by more than 160 North American credit unions, and Gold House Ventures, alongside continued investment from existing backers Headline, Aquiline, Information Venture Partners, Vesey Ventures, Clocktower Ventures, and Alberta Accelerate Fund. The financing brings Helcim's total equity raised to $100 million since its 2022 Series A and lifts the company's valuation to $250 million, up from $97 million at its Series B in 2024. Helcim plans to use the new capital to continue investing in its payments platform and to grow into additional financial services for its merchants. The company is also expanding partnerships with regional banks and credit unions that are moving away from traditional providers themselves, in search of a modern payments platform for their small business members. | PR Newswire
Payments Canada rule changes are developed in consultation with members, participants and, when appropriate, the broader industry to deliver improvements to our payment systems. The following amendments to the ACSS rules have been made: Processing efficiency and risk management (Rules A1 and H1); Operational flexibility (Rules F1 and F4); Membership definition update (Rule F8); Growing financial landscape (Rule D4); Internal tracking and communication (Rule H6); Alignment with federal benefits (Standard 007); Removing outdated items (Rule A4). Payments Canada’s legal framework is made up of by-laws, rules, standards, technical specifications and procedures that safeguard the security, soundness and operational resilience of Canada’s payment systems. Together, they establish the responsibilities and obligations for members handling payment items through our systems. | Payments.ca
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For Bitcoin-backed borrowers, one of the greatest fears is losing the Bitcoin they specifically chose to borrow against instead of selling. That can happen through counterparty failure, a risk APX was built to mitigate through a regulated lending model, or through liquidation when Bitcoin prices fall. The 90/85 Standard is designed to address the second. Under many crypto-backed lending models, reaching the liquidation threshold can result in most or all of a borrower's collateral being sold, either to repay the loan entirely or return it to its originating LTV. Consider a borrower with $100,000 of collateral and a $90,000 loan. Under full liquidation with no fee, $90,000 of collateral would be sold, leaving $10,000 of collateral. With a 5% liquidation fee, $94,737 of collateral would be sold, leaving just $5,263 of collateral. Under APX's 90/85 Standard, only $33,333 of collateral would be sold and applied against the loan, leaving the borrower with $66,667 of collateral and a $56,667 loan balance, resetting the loan to 85% LTV. | Newswire
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TD Bank Group reported net income of $4.62B for Q3 2026, compared with $3.34B in Q3 2025
Adjusted net income is $4.7B and adjusted EPS is $2.77, an increase from $3.9B and $2.20 in Q3 2025. Canadian Personal and Commercial Banking net income was a record $2095 million, an increase of 7% compared with the third quarter last year. U.S. Banking reported net income was $1,074 million (US$771 million), an increase of 41% (39% in U.S. dollars) year-over-year. Wealth Management and Insurance net income was $841 million, an increase of 20% year-over-year, driven by record assets, higher insurance earned premiums, and deposit volume growth. Wholesale Banking reported net income of $743 million for the quarter, an increase of 87% year-over-year. | TD
RBC reports net income of $6.0B for Q3 2026, compared with $5.4B in Q3 2025, a 25% increase
Adjusted net income and adjusted diluted EPS are $6.1B and $4.28 respectively, an increase of 10% and 11%, respectively, from Q3 2025. Personal Banking net income is $1,923 million, an increase of 1% from a year ago . Commercial banking net income is $936 million, an increase of 12% from Q3 2025. Wealth Management net income is $1,442 million, an increase of 32% from last year. | RBC
Adjusted net income in Q3 2026 is $2,859 million and adjusted EPS is $3.96, an increase from $2,399 million and $3.23 in the Q3 2025. Canadian P&C reported net income of $980 million, 16% increase from the prior year. U.S. Banking reported net income of $868 million, an increase of 13% from the prior year. BMO Wealth Management reported net income of $408 million, an increase of $16 million or 4% from the prior year. BMO Capital Markets reported net income of $645 million, an increase of 46% from the prior year. | BMO
Adjusted net income is $2.7B, an increase from $2.10B in the prior year. The Canadian Personal and Business Banking reported net income of $948M an increase of 17% from Q3 2025. Canadian Commercial Banking and Wealth Management reported net income of $619M an increase of 4% from Q3 2025. The U.S. Commercial Banking and Wealth Management Reported Net Income of $320M (US$228M), an increase of $66M (US$42M or 23%) from Q3 2025. | CIBC
National Bank reports net income of $1,307M for Q3 2026, up 23% from $1,065M in Q3 2025
Adjusted net income is $1,362 million and adjusted EPS was $3.39, an increase from $1,104 million and $2.68 in the Q3 2025. In the Personal and Commercial segment, Q3 2026 net income totalled $421 million versus $370 million in Q3 2025. In the Wealth Management segment, net income totalled $296 million in Q3 2026 compared to $244 million in Q3 2025, for an increase of 21%. | National Bank of Canada
Scotiabank reports net income of $2,953M for Q3 2026 compared to $2,527M in Q3 2025
Adjusted net income in Q3 2026 is $2,973 million and adjusted EPS is $2.28, an increase from $2,475 million and $1.88 in the prior year. Canadian Banking net income is $1,071 million compared to $958 million, an increase of 12%. International Banking net income is $725 million compared to $670 million, an increase of 8%. Global Wealth Management net income is $515 million, compared to $417 million. Global Banking and markets net income is $647 million compared to $473 million, an increase of 37%. | Scotiabank
Built to simplify everyday spending, the no fee credit card offers greater flexibility with cash back on every eligible purchase, and additional fuel savings at Shell1, helping small and mid-sized businesses get more value from their spending. As the latest addition to Scotiabank's Business Banking offering, this new Visa credit card reflects the Bank's efforts to deliver a more seamless banking experience for business owners by providing practical solutions that help them access credit, manage expenses, maximize rewards, and grow their businesses. Scotiabank supports Canadian businesses to start, build, and grow through a connected suite of banking solutions and beyond-banking support, including specialized advice, financing, digital tools, tailored programs, and trusted partnerships. The Scotia Momentum® for business No Fee Visa* Card expands Scotiabank's Business Banking credit card lineup and delivers features tailored to the needs of small businesses. | Scotiabank
The award centers on the bank’s successful migration from a retiring legacy digital banking platform to a modernized ecosystem powered by Microsoft Azure and VeriPark technology. The project was not merely a technical upgrade but a strategic overhaul involving more than 1,000 employees to ensure service continuity for the bank’s diverse member base. As a founding member of the Canadian VeriPark User Group, Tru Cooperative Bank helped shape the VeriChannel 8.2 platform specifically for the domestic market. This collaborative framework allowed multiple institutions to co-create governance principles and a strategic roadmap, sharing the burden of development while retaining the ability to customize member experiences. | Fintech Finance News
The committed credit facility was increased from $165 million to $240 million. BMO continues to serve as Agent and Sole Bookrunner on the syndicated revolving credit facility. Through its 15-year track record of prudence and profitability, Merchant Opportunities Fund has helped investors generate attractive and consistent returns while also contributing to the prosperity of more than 15,000 businesses and individuals. The majority of the Fund's capital is deployed into opportunities originated by Merchant Growth, Canada's leader in digitally originated small business financing. Since its inception in 2010, the Fund has generated a compound annual return net of all fees of approximately 10% for its investors. | Newswire
These partnerships will support the delivery of modern banking platforms, improved digital services and more seamless experiences across the many ways Members choose to bank with them. It is about strengthening the foundations that help them continue to be the same member-owned, community-focused bank Members know and trust, while improving the technology that supports the service. By working with Fiserv and VeriPark, Queensland Country Bank will have access to proven banking technology that supports digital banking, lending, card services, customer experience and the core systems that sit behind everyday banking. | Queensland Country Bank
GTB will be jointly led by Sean Amato-Gauci, Group Head, Commercial Banking and Co-Head, Global Transaction Banking, and Derek Neldner, CEO and Group Head, RBC Capital Markets and Co-Head, Global Transaction Banking. Together, they are accountable for establishing RBC as a global transaction banking leader across all client segments. The combined business brings together RBC's transaction banking capabilities from across Commercial Banking, in Canada and the U.S., and Capital Markets under shared leadership and a single strategy -- connecting relationship coverage, product expertise, technology and execution to deliver greater value for clients. Given this business will support transaction banking services across RBC, this new structure will not change the bank's financial reporting and results will continue to be reported within existing business segments. Kartik Kaushik has been appointed Head, Global Transaction Banking -- Product, Platforms and Solutions, and Michael Klopchic has been appointed Head, Global Transaction Banking -- Client Coverage, each will report jointly to Sean and Derek. Kartik will lead product strategy, innovation and platform delivery, while Michael will lead client coverage, sales execution and go-to-market strategy. GTB's growing suite of capabilities includes RBC Clear, a digital cash management platform in the U.S., and RBC Edge, a digital cash management platform in Canada. | RBC
CIBC appointed Prasanna Gopalakrishnan to its Board of Directors, effective September 1, 2026
Ms. Gopalakrishnan brings more than 30 years of experience leading technology, data, cyber and artificial intelligence at scale across banking, wealth management and global consumer businesses. She most recently served as Global Chief Product and AI Officer at ADP. Prior to that she served as Group Chief Technology Officer at Sky in London and as Chief Information Officer of the Retail Bank at Bank of America, following senior technology leadership roles at Fidelity Investments. Ms. Gopalakrishnan holds a Bachelor of Science from Birla Institute of Technology and Science, and a Master of Business Administration from Northeastern University. | CIBC
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Timia provides debt to B2B tech firms across Canada and the United States, focusing on B2B software-as-a-service and software-enabled companies with product-market fit, with between $2 million and $20 million in annual recurring revenue and gross margins of 50 percent or more. Timia’s website claims the firm has provided more than $200 million worth of loans to 80 portfolio companies to date, making this expansion a significant one for the growing tech lender, whose current investments include Toronto-based digital marketing startup Webware AI and Mississauga telematics software company BrightOrder. Timia counts Vancouver-based permitting software provider Clariti, Calgary payroll tech company Wagepoint, and FinTech firm Beanworks among its exits. | BetaKit
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Alfa Prime solves the problem of static AI analysis by introducing a multi-model debate framework. Instead of providing a single answer, the system deploys independent AI agents to construct bull and bear cases based on filings, transcripts, and market data. This agentic AI approach ensures that investment theses are pressure-tested from multiple angles, reducing the risk of model-specific blind spots. Signal Monitoring: Tracks millions of fundamental and market data points simultaneously. Structured Debate: Independent models challenge assumptions to refine investment conclusions. Citable Memos: Generates audit-ready reports featuring supporting evidence and key risks. The Alfa Prime workflow is designed to keep the human investor at the center of the decision-making process. While the AI swarm handles the heavy lifting of data synthesis and debate, humans define the initial investment framework and objectives. The final output is a recommendation that the investor must inspect and challenge before execution, ensuring that the "house view" remains the ultimate guide for the portfolio. | TradeTech Eye
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The free in-app tool has been designed to boost productivity and cut admin by helping small businesses manage their day-to-day transactions, detect and avoid scams, and plan ahead using personalised financial insights. Its capabilities include: Tax Ring-Fencing: Business owners can issue direct commands to streamline tax management | Invoice Fraud and Scam Defence: SMEs can talk to the assistant about invoices from suppliers and it can flag potential scams, advising what action the business owner should take | Making Tax Digital (MTD) Navigator: This helps sole traders and landlords understand their MTD for Income Tax obligations. | Receipt Tracker: Business owners can already add receipts to their transactions, and later this year Starling Assistant will be able to analyse and extract financial information seamlessly. | Starling Bank
They are launching with phased testing of euro-backed EURR launching on Ethereum and open to eligible customers in Denmark, Poland, and Portugal from this month. EURR provides customers with an on-chain option for moving between fiat, crypto, external wallets, and supported blockchain networks Issued by Bridge Building, a Stripe company, EURR is our first stablecoin designed to hold a stable value of €1.00. Stablecoins tied to other currencies are already in development, with wider availability for EURR expected to follow later this year. | Revolut
The unit aims to provide a unified behavioural intelligence layer across Revolut’s global operations, which currently serve 80 million retail customers in over 40 markets. By processing billions of cross-border transactions, the models are designed to improve real-time risk assessment and product recommendations. Early testing of PRAGMA on historical data has yielded significant performance benchmarks: Credit Risk: A 2.3x increase in accuracy for identifying default risks; Fraud Prevention: A 65% increase in caught fraud cases, paired with a 17% improvement in alert precision; Personalisation: A 41% rise in the relevance of product recommendations for both retail and business users. Revolut Research plans to share its findings with the wider scientific community, including upcoming appearances at NVIDIA GTC Berlin in October and ICAIF in November. The division will also host quarterly meet-ups at Revolut’s offices and intends to open-source specific technical frameworks. | Fintech Finance News
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The firm reported that it held a $500,000 first close of a target $2M CAD fund, which it aims to close before the end of the year. Its anchor investors are Ontario-based impact investing family office Dragonfly Ventures, Canada’s largest Black-led VC fund BKR Capital, and a handful of high-net-worth individuals. BTC is starting with a micro venture fund in part to chase the outsized returns that can come with smaller funds, and to bring in investors at a more accessible minimum cheque size amid a tough fundraising environment for emerging managers. | BetaKit
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While this figure is stable compared to the US$1 billion raised in the second half of 2025, it represents a more than 40 percent drop from the US$1.7 billion invested in the first half of 2025, which saw 82 deals. The market experienced a sharp rebound in the second quarter, with investment rising to US$621.7 million from US$375 million in Q1. This surge was largely driven by two major transactions. The first was a US$218.6 million Series E investment in online mortgage lender Nesto, which valued the company at US$1 billion. This round attracted new capital from La Caisse (formerly CDPQ), Fidelity Investments Canada ULC, PICTON Investments, and Endeavor Catalyst, alongside renewed support from Portage, Diagram, and NAventures, the venture arm of National Bank of Canada. The second-largest transaction was Robinhood Markets Inc.’s US$168.4 million acquisition of Toronto-based WonderFi Technologies. This deal facilitated Robinhood’s entry into the Canadian market via WonderFi’s regulated cryptoasset platforms, Bitbuy and Coinsquare. Digital asset-based FinTechs remained the second most active vertical in the country during this period. | Fintech Finance News
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