Weekly FinTech & Financial News
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Top FinTech Updates this Week
🤝 Vayle, Toronto-based privacy compliance software for the public sector launched Vayle ID, a secure, real-time identity verification solution powered by Interac Verified
🤝 Aquanow, a Vancouver-based global digital assets infrastructure provider and Akurateco, Portugal-based white-label payment software provider, to power the next generation of crypto payments
🚀 Cash App, a part of Block, Inc. launched a pilot program that gives select customers visibility into their Cash App Score, a near real-time measure of a Cash App customer’s financial health
🚀 Visa is building a multicoin and multichain foundation to help partners worldwide settle stablecoin transactions on VisaNet
🚀 Charles Kharouf, President at Laval-based Westgate Managing Capital launched their new FinTech Sekured.ca, a secured credit card platform focused on credit-building for Canadians
🌟 Block, Inc. provided access to more than $200 billion to customers in global lending across its portfolio of credit products, including Cash App Borrow, Afterpay, and Square Loans
🌟 Episode Six, US-based enterprise-grade card issuing and ledger infrastructure provider is now a registered Payment Service Provider under Canada's Retail Payment Activities Act (RPAA)
Top Financial Institutions Updates this Week
🚀 Mila, Montreal-based AI research centre and Inovia Capital, a Montreal-based VC partnered to launched Venture Scientist Fund, an early-stage venture fund to turn AI research “diamonds” into startups
🚀 CIBC Asset Management launched the CIBC Diversified Private Credit Fund, an institutional open-ended solution offering access to a diversified portfolio of senior secured, floating-rate loans
🤝 Desjardins is teaming up with Quantino, Quebec-based high-tech incubator powered by INO, to support startup growth through a $400,000 contribution via its GoodSpark Fund
🤝 Air Transat, the Montréal-based leisure airline, is partnering with Desjardins and Visa to introduce a new loyalty program focused on accessible, personalized benefits
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Visa is building a multicoin and multichain foundation to help partners worldwide settle stablecoin transactions on VisaNet. Stablecoin settlement volumes have reached a $4.5B annualized run rate, driven mainly by card issuers that rely on Visa’s network to enable real-world spending where merchants still largely don’t accept stablecoins—reflecting Visa’s view that once stablecoins are trusted, scalable, and interoperable, they can fundamentally transform how money moves around the world. | PYMNTS
TreviPay, US-based fully managed B2B payments platform launches 'Pay by Invoice for Issuers' enabled by Visa credentials. Through the collaboration TreviPay & Visa are helping businesses embed payments seamlessly into their existing workflows, unlocking new working capital opportunities and improving efficiency in the order-to-cash process. Trade credit facilitated by TreviPay’s Pay by Invoice platform and supported by Visa’s network capabilities is funded by the issuer, allowing banks to manage credit decisions for their existing clients while benefiting from TreviPay’s onboarding and full-service A/R automation. | TreviPay
Episode Six, US-based enterprise-grade card issuing and ledger infrastructure provider is now a registered Payment Service Provider under Canada's Retail Payment Activities Act (RPAA). This milestone signals readiness to operate under Canada’s payment regulations, with controls aligned to expectations around operational resilience and safeguarding customer funds—building added confidence for local clients and partners. | LinkedIn
Global Payments, a global provider of payment technology and software solutions completed its acquisition of Worldpay from FIS and GTCR, and the divestiture of its Issuer Solutions business to FIS. The transactions transform Global Payments into a pure-play, commerce solutions provider, serving the full spectrum of clients, from small businesses to global enterprises worldwide. The completion of the transactions positions the new Global Payments to capitalize on substantial growth opportunities with enhanced global scale. The combined company will serve more than 6 million merchant locations, processing $3.7T in payment volume and approximately 94 billion transactions annually across more than 175 countries. To serve the unique needs of its broad range of clients, Global Payments will go to market through three channels: Enterprise, SMB, and Integrated & Platforms. | Global Payments
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Meridian Credit Union partnered with Toronto-based Conscious Economics, a not-for-profit social enterprise to launch 'Well with Money', a new, free online program to help Canadians explore and improve their financial wellness. It blends short videos, reflection tools, and a “Money & the Nervous System” micro‑lesson to help people notice patterns, reduce stress responses, and build everyday financial confidence one small step at a time. | Meridian Credit Union
According to a study by Environics Research, Canadians switching banks at a faster pace as they look for better deals and easier services. About 57% of the 45,000 people surveyed in 2025 had opened a new bank account or banking product within the preceding 12 months, though 33% of them “remained loyal” to their primary financial institution. | Financial Post
Desjardins is teaming up with Quantino, Quebec-based high-tech incubator powered by INO, to support startup growth through a $400,000 contribution via its GoodSpark Fund. As the project’s main private partner, Desjardins will provide incubated companies—particularly in medtech, photonics, and quantum—with access to financial services, specialist support, training, and tailored funding and insurance solutions. | Desjardins
Air Transat, the Montréal-based leisure airline, is partnering with Desjardins and Visa to introduce a new loyalty program focused on accessible, personalized benefits. This program will multiply benefits for its customers, offering an enriched experience at every stage of their journey. The launch is planned for the second half of 2026. This collaboration is part of a strategy that will offer travellers an innovative loyalty program with exclusive benefits and an enhanced experience. This alliance brings together two iconic Quebec-based companies, backed by one of the world’s most trusted and secure payment networks. | Desjardins
CIBC Asset Management launched the CIBC Diversified Private Credit Fund, an institutional open-ended solution offering access to a diversified portfolio of senior secured, floating-rate loans. The Fund aims to deliver resilient income and attractive risk-adjusted returns through a multi-sector private credit allocation, focusing on capital preservation, consistent cash flow and downside protection. Leveraging CIBC's established bank lending platform, the Fund provides exposure to direct and specialty lending, including asset based lending in real estate and infrastructure, while maintaining a disciplined focus on senior secured positions at the top of the capital structure. | CIBC
CIBC recognized as one of Canada's Top Employers for Young People by Mediacorp Canada Inc. for the 14th consecutive year. This recognition celebrates employers who create exceptional environments where emerging talent can launch meaningful careers and realize their full potential. CIBC's listing among Canada's Top Employers for Young People follows other related recognition which includes: CIBC named one of Canada's 2026 Top 100 Employer; CIBC was named a 2025 Catalyst Award winner for its commitment to advancing gender equity and workplace inclusion; CIBC recognized as a Leading Workplace for Disability Inclusion in 2025; CIBC achieved a top rating from advisors for the 10th consecutive year in the 2025 Investment Executive Report Card on Banks. | CIBC
TD Bank Group for the fifth consecutive year, recognized by the Business Intelligence Group (BIG) through the 2026 BIG Innovation Awards. The Big Innovation Awards honour individuals, teams and organizations that paved a way for new products, services and experiences. TD was recognized for three 2026 BIG Innovation Awards for: Maksims Volkovs, SVP and Chief AI Scientist, Layer 6 AI at TD, recognized for his track record of driving innovation; Kirsti Racine, Vice President and AI Technology Lead, and the TD AI Platform (TAP) Team and TD Enterprise Colleague Onboarding Program co-created with colleagues. These innovative advancements are all part of TD Invent, the Bank's strategic, bank-wide umbrella effort to power purposeful innovation. | TD Bank
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Aquanow, a Vancouver-based global digital assets infrastructure provider and Akurateco, Portugal-based white-label payment software provider, to power the next generation of crypto payments. This collaboration empowers Akurateco’s clients to access a broader range of crypto payment options and liquidity services, strengthening their ability to operate seamlessly across both traditional and digital financial ecosystems. Through the integration, Akurateco’s partners and merchants can now benefit from Aquanow’s institutional-grade crypto liquidity and crypto payment rails, enabling faster, more secure, and compliant digital asset transactions. | Fintech Finance News
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Cash App, a part of Block, Inc. launched a pilot program that gives select customers visibility into their Cash App Score, a near real-time measure of a Cash App customer’s financial health. The experience shows customers the score that informs their access to Cash App Borrow and empowers them to better understand how their everyday Cash App financial activity influences the score. Customers are then able to take actions within the app to strengthen their Score. | Yahoo! Finance
Block, Inc. provided access to more than $200 billion to customers in global lending across its portfolio of credit products, including Cash App Borrow, Afterpay, and Square Loans. Block's $200 billion milestone spans three distinct products, each serving different customer needs: Cash App Borrow*: Short-term loans averaging 21 days, with 97% repayment rates despite 70% of borrowers having FICO scores below 580; Afterpay: Buy now, pay later with 96% of installments paid on time and 98% of purchases incurring no late fees and Square Loans: Small business lending with less than 3% loss rates, with 58% going to women-owned businesses and 34% to minority-owned businesses. | Block
Charles Kharouf, President at Laval-based Westgate Managing Capital launched their new FinTech Sekured.ca, a secured credit card platform focused on credit-building for Canadians. Powered by Mastercard and set to roll out in the coming months, the platform aims to provide a faster and more transparent way for individuals with damaged credit to regain access to credit and rebuild their credit profile. | Sekured
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Vayle, Toronto-based privacy compliance software for the public sector launched Vayle ID, a secure, real-time identity verification solution powered by Interac Verified. It is integrated into its FOI and online form workflows. This collaboration helps public-sector organizations validate identities instantly, reducing manual review and enhancing security while protecting privacy. | LinkedIn
Trulioo, a Vancouver-based an identity verification platform appointed Craig McDonald as chief revenue officer (CRO). In this role, McDonald will lead the global revenue organization, overseeing sales, customer success and go-to-market strategy as the company continues to scale and meet growing demand. McDonald brings more than 25 years of experience in financial technology and payments, with a proven track record of building high-performing revenue teams, scaling global partnerships and delivering secure, seamless payment solutions for enterprises of all sizes. | Fintech Finance News
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Mila, Montreal-based AI research centre and Inovia Capital, a Montreal-based VC partnered to launched Venture Scientist Fund, an early-stage venture fund to turn AI research “diamonds” into startups. Mila and Inovia launched the Venture Scientist Fund, a national initiative with a target amount of $100 million USD ($125 million CAD). The fund aims to identify and back at least 55 “AI-native” startups by helping researchers turn their discoveries into products. Inovia will co-develop and co-manage the fund with the Mila team, and a separate legal entity will be set up to deliver it. | BetaKit
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Mave, a Toronto-based real estate AI company built for realtors and brokers, raised $5M in Seed funding. Backers included Staircase Ventures, along with returning investors Relay Ventures, N49P, and Alate Partners. The company intends to use the funds to accelerate its engineering and product expansion. As part of the round, Staircase Ventures Founder and Managing Partner Janet Bannister will join the Mave board. | FinSMEs
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