Weekly FinTech & Financial News
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Top FinTech Updates this Week
🌟 Federal government released the draft of the Stablecoin Act, formally set out in Division 45 of Bill C-15, establishing Canada’s first national legal framework for fiat-backed stablecoins
🚀 Nine major European banks—including ING, CaixaBank, Danske Bank, SEB, KBC, UniCredit, Raiffeisen Bank International, DekaBank and Banca Sella—form Qivalis to launch a regulated euro stablecoin
🌟 Propel Holdings, Toronto-based credit for consumer provider received regulatory approval from the Office of the Commissioner of Financial Institutions of Puerto Rico (OCFI) to establish Propel International Bank, Inc., a wholly owned subsidiary of Propel
🤝 Nuvei, a Montreal-based payment provider expands partnership with Microsoft to scale global payments infrastructure to support more than 10,000 transactions per second
🤝 Visa to list the Visa Intelligence Commerce platform in AWS Marketplace, helping businesses and developers to connect seamlessly to a growing ecosystem of agentic commerce providers
🚀 Revolut, UK-based challenger bank launches ‘Street Mode’ to keep customer funds safe from rise in transfer muggings
🚀 Kraken, global crypto platform launches Kraken VIP, an invitation-only program tailored for ultra high net worth individuals including crypto service
🚀 Newton Connectivity Systems, Toronto-based mortgage processing platform launches VerifyCRA, a CRA income verification tool for brokers
Top Financial Institutions Updates this Week
🌟 BMO Financial Group reports net income of $8,725M for Fiscal 2025, an increase of 19% from $7,327M in Fiscal 2024
🌟 Scotiabank reports net income of $7,758 for Fiscal 2025, compared to $7,892M in Fiscal 2024
🌟 National Bank reports net income of $4,017M for Fiscal 2025, up 5% from $3,816 in Fiscal 2024
🌟 CIBC reported net income of $8.5B for Fiscal 2025 compared with reported net income of $7.2B in Fiscal 2024
🌟 TD Bank Group reports net income of $20,538M for Fiscal 2025, compared with $8,842M in Fiscal 2024
🌟 RBC reports net income of $20.4B for Fiscal 2025, compared with $16.2B in Fiscal 2024
🌟 Office of the Superintendent of Financial Institutions (OSFI) eased restrictions on crypto holdings for life and P&C insurers, raising exposure limits while maintaining a risk-based framework
🤝 ATB Financial partnered with Nmbr, Canada’s first dedicated embedded payroll software provider, to launch ATB Payroll for Alberta’s small Businesses
💼 EQ Bank to acquire PC Financial from Loblaw Companies Ltd in $800M deal
💼 Laurentian Bank to be acquired by National Bank of Canada and Fairstone Bank
🚀 BMO Commercial Bank's Treasury and Payment Solutions launches payment APIs to power embedded finance experiences across North America
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Visa to list the Visa Intelligence Commerce platform in AWS Marketplace, helping businesses and developers to connect seamlessly to a growing ecosystem of agentic commerce providers. AWS and Visa will also publish blueprints on the public Amazon Bedrock AgentCore repository designed for multi-network agentic retail shopping, travel booking, and payment reconciliation, enabling developers to create and connect complex workflows. Through this collaboration, AWS and Visa are committed to advancing agentic workloads and commerce capabilities on AWS, with Visa deploying MCP tools to help enable fully integrated, end-to-end agentic commerce solutions on the platform. | Fintech Finance News
Mastercard unveils SME card with built-in cybersecurity solutions to help small and medium businesses thrive in the digital economy. Mastercard’s modern SME card suite introduces My Cyber Risk and Identity Theft Protection as part of a comprehensive cybersecurity strategy that blends advanced technology, education, and partnership. My Cyber Risk gives SMEs a clear risk rating, a prioritized view of vulnerabilities, an inventory of internet-facing systems and practical remediation steps. Identity Theft Protection continuously monitors for compromised business credentials, including emails, bank accounts, and identification data, instantly alerting owners of potential incidents. | Fintech Finance News
Stripe to acquire Metronome, US-based usage-based billing platform. Metronome will become a core part of Stripe’s product suite, while still giving customers the flexibility to adopt best-in-class components across the quote to cash and monetization stacks. Together, both company products will serve users across the full spectrum, from simple self-serve models to the most complex enterprise workflows. | Metronome
Nuvei, a Montreal-based payment provider expands partnership with Microsoft to scale global payments infrastructure to support more than 10,000 transactions per second. It enables Nuvei’s core payment processing APIs to run on Microsoft Azure and use Azure AI to optimize transactions in real time. The move significantly expands Nuvei’s global processing capabilities beyond enabling 10,000 transactions per second, with a target 99.999 percent availability for enterprise merchants. By migrating core services to Azure, Nuvei gains enhanced elasticity, faster performance, and more consistent global reliability, while refreshing key components and reducing reliance on third-party technologies. This modernized architecture also creates a larger runway for ongoing innovation, enabling Nuvei to accelerate future enhancements and deliver even higher levels of resilience and optimization over time. | Fintech Finance News
Adyen reports recognising 95% of 400 million unique shoppers across 837 million processed transactions. The platform’s expanded shopper recognition capabilities strengthen its intelligent payments engine, helping global enterprises make faster and more accurate trust decisions. | Adyen
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BMO Financial Group reports net income of $8,725M for Fiscal 2025, an increase of 19% from $7,327M in Fiscal 2024. Adjusted net income is $9,248 million and adjusted EPS was $12.16, an increase from $7,449 million and $9.68 in the prior year. Canadian P&C reported net income was $752 million, relatively unchanged from the prior year. U.S. Banking reported net income of $807 million, an increase of $526 million from the prior year. BMO Wealth Management reported net income of $383 million, an increase of $82 million or 27% from the prior year. BMO Capital Markets reported net income of $521 million, an increase of $270 million from the prior year. | BMO
Scotiabank reports net income of $7,758 for Fiscal 2025, compared to $7,892M in Fiscal 2024. Adjusted net income is $9,510 million and adjusted EPS was $7.09, an increase from $8,627 million and $6.47 in the prior year. Canadian Banking net income was $3,425 million compared to $3,777 million. International Banking net income was $2,789 million compared to $2,706 million. Global Wealth Management net income was $1,680 million, compared to $1,428 million. Global Banking and markets net income was $1,921 million compared to $1,478 million. | Scotiabank
National Bank reports net income of $4,017M for Fiscal 2025, up 5% from $3,816 in Fiscal 2024. Adjusted net income is $4,479 million and adjusted EPS was $11.28, an increase from $3,716 million and $10.39 in the prior year. In the Personal and Commercial segment, net income totaled $1,111 million, down 17% from $1,343 million in the Fiscal 2024. In the Wealth Management segment, net income totaled $976 million in the Fiscal year, 2025 compared to $837 million in 2024, for an increase of 17%. | National Bank of Canada (NBC)
CIBC reported net income of $8.5B for Fiscal 2025 compared with reported net income of $7.2B in Fiscal 2024. Adjusted net income is $8.5B, an increase from $7.3B in the prior year. In the Canadian Personal and Business Banking reported net income was $3,107M compared to $2,905M from prior year. In Canadian Commercial Banking and Wealth Management reported net income was $2,341M compared with $2,063M from prior year. In the U.S. Commercial Banking and Wealth Management Reported Net Income was $958M compared with $500M from the prior year | CIBC
RBC reports net income of $20.4B for Fiscal 2025, compared with $16.2B in Fiscal 2024. Adjusted net income and adjusted diluted EPS of $20.9B and $14.43 were up 20% and 19%, respectively, from the prior year. Personal Banking net income of $1,887 million compared with $1,579million a year ago. Commercial banking net income of $810 million compared with $774 million a year ago. Wealth Management net income of $1,284 million compared with $969 million a year ago. | RBC
TD Bank Group reports net income of $20,538M for Fiscal 2025, compared with $8,842M in Fiscal 2024. Adjusted net income is $15,025 million and adjusted EPS was $8.37, an increase from $14,277 million and $7.81 in the prior year. Canadian Personal and Commercial Banking net income was a record $1,865 million, an increase of 2% year-over-year. U.S. Retail reported net income was $719 million, up 31% year-over-year,. Wealth Management and Insurance net income was $699 million, an increase of $350 million year-over-year, driven by record earnings in Wealth Management and lower losses from catastrophe claims in Insurance. Wholesale Banking reported net income of $494 million for the quarter, an increase of $259 million year-over-year. | TD Bank
EQ Bank to acquire PC Financial from Loblaw Companies Ltd in $800M deal. The $800 million deal, paid in shares and cash, will see Loblaw take a 16% stake in EQB and establish EQ Bank as the exclusive financial partner of the PC Optimum loyalty program. The acquisition includes President's Choice Bank, PC Financial Insurance Agency Inc., and PC Financial Insurance Brokers Inc., expanding EQB’s reach into insurance distribution and product manufacturing. PC Financial Insurance Agency and Brokers have been active in offering a range of personal insurance products - such as travel, creditor, and pet insurance - underwritten by third-party carriers and distributed through the PC Financial platform. | Insurance Business Mag.
Laurentian Bank to be acquired by National Bank of Canada and Fairstone Bank. National Bank will acquire Laurentian Bank's retail and SME banking portfolios and syndicated loan portfolio, complementing its activities in Québec. Fairstone Bank to acquire all issued and outstanding common shares of Laurentian Bank and combine commercial lending operations, leveraging both organizations' expertise to strengthen capabilities and expand market presence. | National Bank of Canada (NBC)
ATB Financial partnered with Nmbr, Canada’s first dedicated embedded payroll software provider, to launch ATB Payroll for Alberta’s small Businesses. The collaboration marks the first time a financial institution has partnered with a payroll infrastructure provider in Canada, allowing ATB’s small business clients to run payroll directly from their business banking portal. ATB Payroll removes that friction, allowing ATB’s small business customers to automate these payroll processes without the need for labour-intensive onboarding with a third-party payroll provider. | Business Wire
Office of the Superintendent of Financial Institutions (OSFI) eased restrictions on crypto holdings for life and P&C insurers, raising exposure limits while maintaining a risk-based framework. It details how federally regulated financial institutions should treat crypto asset exposures for regulatory capital and liquidity purposes. The changes came in response to developments in digital markets and feedback from the companies OSFI oversees. The letter amends two comprehensive guidelines on crypto-asset treatment, introducing targeted changes that loosen certain restrictions while preserving what the regulator called a prudent, risk-based approach. | Insurance Business Mag.
BMO and Walmart Canada team up to make shopping fast, convenient and affordable. BMO new strategic collaboration with Walmart Canada aims to bring greater value and flexibility to Canadians by delivering convenient access to unlimited, free same-day delivery on groceries and everyday essentials at affordable prices. This collaboration reflects the bank's commitment to helping Canadians make real financial progress by saving them time and money on their everyday needs. | BMO
Bank of Montreal appointed Tammy Brown to its Board of Directors. Ms. Brown previously served as Deputy Chair of KPMG Canada's Board of Directors and was a Partner and National Industry Leader for Industrial Markets at KPMG in Canada. She was also the Partner Sponsor of KPMG's National Indigenous Peoples Network. She previously served as Board Chair of Women's College Hospital, Toronto and is currently the Treasurer of the World Ovarian Cancer Coalition. | BMO
BMO Commercial Bank's Treasury and Payment Solutions launches payment APIs to power embedded finance experiences across North America. BMO's new Payment APIs empower businesses across North America to seamlessly integrate secure, real-time payment capabilities into ERP systems, treasury platforms, and customer-facing applications — unlocking faster transactions and a fully embedded finance experience. Developers gain instant access to secure APIs, clear documentation, and a production-grade sandbox through BMO Developer Portal, making it easy to build, test, and deploy cross-border payment solutions. | BMO
CIBC reported senior leadership appointments to its Group Executive Leadership Team for 2026, to further accelerate the execution of its client-focused strategy. Sandy Sharman, Senior Executive Vice-President and Group Head, People, Culture and Brand, will transition to the role of Special Advisor on January 1, 2026 and will retire at the end of 2026. Christina Kramer, Senior Executive Vice-President and Chief Administrative Officer, will take on additional accountability for Enterprise Real Estate, Enterprise Capabilities and Organizational Agility, Brand, Community Investment, Client Experience, Communications, and Corporate Events. Richard Jardim will be appointed Senior Executive Vice-President, Chief Technology and Information Officer, Global Technology, Data and AI. Yvonne Dimitroff will be appointed Executive Vice-President, Chief Human Resources Officer, People, Culture and Talent, accountable for leading our HR function and fostering a best-in-class culture for our CIBC team. | CIBC
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Federal government released the draft of the Stablecoin Act, formally set out in Division 45 of Bill C-15, establishing Canada’s first national legal framework for fiat-backed stablecoins. That Act sets out the objects of the Bank of Canada in respect of stablecoin and requires the Bank to maintain a public registry of stablecoin issuers. That Act also addresses, among other things, the redemption of stablecoins by issuers, the reserve of assets that issuers must maintain to fulfill their redemption obligations and the policies that they must establish. | Parliament of Canada
Nine major European banks—including ING, CaixaBank, Danske Bank, SEB, KBC, UniCredit, Raiffeisen Bank International, DekaBank and Banca Sella—form Qivalis to launch a regulated euro stablecoin. The consortium, now expanded with BNP Paribas SA, has formally incorporated Qivalis in Amsterdam to build a MiCAR-compliant euro stablecoin under Dutch Central Bank supervision, supported by a newly launched leadership team. | CaixaBank
Kraken, global crypto platform launches Kraken VIP, an invitation-only program tailored for ultra high net worth individuals including crypto service. Originally developed in 2018 and refined through a private pilot, Kraken VIP brings together elevated client service and extraordinary experiences into one comprehensive program. Kraken VIP is designed for clients who value discretion, precision, and depth of relationship — and who expect their platform to match the scale and seriousness of their capital. The program combines privacy-first design with meaningful, experience-led engagement to deliver a level of service rarely seen in the digital asset space. The offering includes: Dedicated relationship management, Global experiences, Access to a private network of leaders, Early product access and influence, Premium service and engagement benefits. | Kraken
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Revolut, UK-based challenger bank launches ‘Street Mode’ to keep customer funds safe from rise in transfer muggings. A new security feature designed to help protect customers from theft in instances of phone snatching and transfer mugging, Street Mode provides an additional and customisable layer of location-aware protection to funds when customers are on the go. Street Mode is launching ahead of the busy shopping and holiday season, when crowded shopping streets and late night(s) provide extra opportunity to fraudsters. Once enabled, it will empower customers to define their own ‘Trusted Locations’, outside of which Street Mode will kick in and subject outgoing transfers above a certain limit to additional identification checks and a 1-hour delay. These protections create a critical window of time where fraudulent activity can be stopped by preventing customer funds from being transferred under duress. | Fintech Finance News
Revolut Business to launch Titan, a premium corporate card designed for global teams. Revolut Business, the global financial platform for businesses with hundreds of thousands of customers, has today opened the waitlist for its first ultra-premium business card, Titan. Designed for high-growth companies, the card integrates advanced spend management with high-value travel and lifestyle benefits, all within one powerful solution.Titan offers an integrated solution for modern, global businesses combining essential tools with premium perks for teams of all sizes. Members can also earn RevPoints, Revolut’s loyalty card programme, at a 1:1 rate from their business spending, which can be transferred to their personal Revolut account. | Fintech Finance News
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Mantle, Toronto-based private asset management platform partnered with Loop Financial, Toronto-based SMB challenger bank to introduce a $120 credit offer for annual Mantle subscriptions. The collaboration rewards startups with a $120 statement credit when they purchase Mantle’s annual plan using a Loop Financial corporate card. | LinkedIn
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Newton Connectivity Systems, Toronto-based mortgage processing platform launches VerifyCRA, a CRA income verification tool for brokers. VerifyCRA, offers brokers with secure CRA document retrieval in under 48 hours — addressing one of the most persistent delays in the mortgage application process. The service will be available to all mortgage brokers. Newton Connectivity Systems to launch VerifyCRA through a designated microsite, with plans to integrate it into the Velocity platform early in the new year. | Canadian Mortgage Trends
Propel Holdings, Toronto-based credit for consumer provider received regulatory approval from the Office of the Commissioner of Financial Institutions of Puerto Rico (OCFI) to establish Propel International Bank, Inc., a wholly owned subsidiary of Propel. Propel Bank is licensed as an International Financial Entity overseen by the OCFI. Established under the U.S. banking framework, many IFEs today provide a range of banking and financial services to clients in the U.S. and globally. Propel Bank represents an evolution of Propel's fintech-bank partnership platform. At launch, Propel Bank will focus on serving existing and future bank partners by providing core consumer lending services including underwriting, compliance, and customer service. Propel Holdings will not become a bank holding company. | Newswire
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New Zealand officially activates its Consumer Data Right, marking the national rollout of regulated open banking. The new regime allows consumers to securely share data with accredited FinTechs as ANZ, ASB, BNZ and Westpac go live with required open-banking systems, while Kiwibank follows in 2026 and Ministry of Business, Innovation and Employment (MBIE) begins accrediting fintech data requestors. | MBIE
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Cboe Global Markets, US-based Tier 1 stock exchange to offload Australian and Canadian markets businesses, Cboe Australia and Cboe Canada. The decision reflects the firm’s “global strategic shift”; Cboe will work alongside regulators and customers to ensure a smooth transition of the businesses. The move will see Cboe offloading its equities and listings businesses in both regions, spanning both corporate and ETF offerings, to reflect the firm’s “global strategic shift” and a realignment of its portfolio of businesses. | The Trade News
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The Office of the Superintendent of Financial Institution (OSFI) is moving to make it easier for banks to loan money to SMBs and for some real estate projects. The Office of the Superintendent of Financial Institutions says the changes to capital requirements will better reflect risks faced by institutions while freeing capacity for them to extend credit and support growth. It says the proposed changes would give financial institutions more flexibility and reduce their regulatory burden. OSFI has launched a 90-day public consultation on the proposed changes which would come into effect Nov.1, 2026 or Jan. 1, 2027 for institutions with a financial year ending Oct. 31 or Dec.31, respectively. | North Shore News
MaRS Discovery District, Toronto-based innovation hub and Definity Financial Corporation, Waterloo-based P&C insurance launch new accelerator for climate adaptation startups. This Adaptech Accelerator aims to help early-stage cleantech founders with a prototype validate their climate adaptation and resilience solutions, bolster their business models, and connect with prospective customers, partners, and investors. Applications for the two-year Definity-backed program are set to open in January. The accelerator will support eight to 10 companies. | BetaKit
YouTube star MrBeast’s firm Beast Holding files trademark application for "MrBeast Financial" with crypto-linked services. The application includes language related to crypto and Web3, such as managing financial services, downloadable software, and SaaS tools for managing crypto-related functionality. The move hints at a potential push into fintech and Web3, possibly targeting MrBeast's massive audience, and could serve as a crypto on-ramp or exchange. | CoinDesk
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