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October 26-30, 2026
Top FinTech Updates this Week
💰 Wealthsimple Inc. Toronto-based wealthtech firm raises $425M at $13.8B valuation as client assets surge 68% to $169B
🤝 Mastercard and Beast Industries are partnering on new consumer and creator co-brand card programs, experiences, tools and education to help creators and the next generation turn ideas into opportunity and build stronger financial futures
🚀 Anthropic integrated Claude for Financial Advisors with FINNY, Jump, and Conquest Planning, allowing wealth managers to access prospecting, meeting context, and financial planning tools within a single AI interface
🚀 Questrade, Toronto-based online trading & wealth management platform introduced equity trading on select US options which is now available on its app before the market opens and after it closes
💼 Dayforce, Toronto and US-based HR management software firm to acquire Ribbon AI Toronto-based AI-native platform that conducts screening interviews on behalf of companies, using a generated voice
🌟 The Department of Finance published proposed Stablecoin Regulations for consultation, setting out detailed requirements for registration, reserves, custody, redemption, governance, disclosure, supervision and enforcement
🌟 Loon, a Calgary-based stablecoin company's newly established CADC Reserve Trust received receipt for its final prospectus from the Ontario Securities Commission (OSC), giving it exemptive relief to offer the blockchain-based token
Top Financial Institutions Updates this Week
🚀 Vancity, Vancouver-based credit union, selected Temenos SaaS on Microsoft Azure to modernize its core banking platform, supporting 588,000 members and $42.4B in assets
🚀 TD Bank U.S. unveiled TD Credit Assist, an AI capability that reduces the time required to prepare a first-draft commercial credit analysis from up to three working days to less than 30 minutes
🚀 Manulife Bank launched the Manulife Bank Visa Infinite and Manulife Bank Visa Platinum cards with Manulife Better Rewards, a new credit card offering that rewards the everyday spending Canadians make to support their health, wealth and longevity
🚀 CIBC introduced CIBC Smart Benefits, a new program that gives eligible personal banking clients choices in how they benefit from their relationship with CIBC
🚀 Scotiabank continues to enhance its Canadian mobile banking app with the latest set of digital features designed to give clients more flexibility and personalized experiences
🌟 Bank of Canada raises interest rate to 2.5% in first hike since 2023
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For Mastercard, the collaboration extends its work in financial education and access, securing digital participation and small business growth in the creator economy. It also advances the company’s commitment to connect and protect 500 million people and small businesses on their pathways to financial health by 2030. | Mastercard
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Under the proposal, issuers would need to maintain full backing in high-quality liquid assets, redeem stablecoins within three business days and cap redemption fees at 1%. The framework is expected to take effect in fall 2027, with public consultation open until December 23, 2026. | Government of Canada
Paytrie, the Calgary company that originally created CADC—and from which Loon spun out of last year—has also been granted exemptive relief to distribute CADC. Though Loon still has more work to do to ensure compliance, including migrating legacy CADC over to this new contract, this marks the completion of one of the key and final regulatory steps required for Loon to issue CADC, and for Paytrie to deliver it. The company claimed that the two firms have carved out a new framework around stablecoin distribution in the process. | BetaKit
The collaboration utilizes ACI Connetic, a cloud-native intelligent payments orchestration platform, alongside Circle’s USDC infrastructure. The primary objective is to show financial institutions how they can bridge the gap between legacy payment systems and emerging digital asset capabilities without overhauling their entire treasury operations. By using a single platform to orchestrate both traditional and digital rails, institutions can evaluate new settlement models within their existing governance frameworks and operating environments. The implementation is set to debut in Colombia. This is a strategic choice, as ACI Worldwide is the architect behind the central infrastructure for Bre-B, the nation’s interoperable instant payments ecosystem. | Merchant’s Eye
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Bank of Canada raises interest rate to 2.5% in first hike since 2023
The Bank of Canada raised its key interest rate by 25 basis points to 2.5 per cent on October 28th, blaming higher, more persistent inflation for its first rate hike since 2023 and warning that it could not rule out additional increases. | Financial Post
The multi-agent system processes complex deal documents and generates structured, cited credit memos for professionals to review and refine. Tested on 220 deals, 95% of evaluated outputs passed expert review, with lending recommendations and final decisions remaining in human hands. | TD
Citi Premium Boost is a new relationship-powered savings feature designed to simplify wealth management for the bank's most active clients. The product specifically targets the habit of "rate-chasing," a behavior where customers move assets between different financial institutions to capture short-term promotional interest rates. Instead of these temporary offers, Premium Boost provides a permanent, competitive rate that increases as a client moves up through the Citi Relationship Tiers. Clients in the Citigold® Private Client tier receive a 4.35% rate, while those in the Citigold® tier receive 4%. Citi Priority clients are offered a 3.5% rate. By integrating banking, investing, and wealth management into a single ecosystem, the bank aims to capture a significant portion of assets currently held "off-us." | Fintech Finance News
The credit union, which manages CAD $42.4 billion in assets and serves more than three million accounts, will utilize a "build-and-migrate" strategy. This phased approach is designed to introduce new digital banking capabilities while progressively updating existing operations, ensuring business continuity and protecting member services throughout the transition. The modernization program covers Vancity’s primary business lines, including retail deposits, retail lending, payments, and corporate banking. To support these functions, the institution will deploy a suite of products comprising Temenos Core, the Temenos Payments Hub, and the Temenos Data Hub. By running these systems on Microsoft Azure, Vancity intends to create a more resilient and scalable foundation for its technology stack. | Fintech Finance News
Enabled by Visa, a global leader in digital payments, the new cards help Canadians earn more rewards on the purchases that are already part of their lives – from health and wellness to travel, dining and entertainment. Whether it's a monthly gym membership, tickets to a favourite concert or dinner with friends and family, cardholders can turn everyday spending into meaningful value. This launch expands the banking solutions available through Manulife Bank's advisor network. | Manulife
CIBC Smart Benefits™ builds on the CIBC Smart Account™ and is part of CIBC's broader strategy to create a leading everyday banking and advice platform through differentiated, digitally enabled, and personalized client experiences. The CIBC Smart Account™ features three distinct tiers based on a client's average monthly balance of eligible deposits. With new CIBC Smart Benefits™, eligible clients with a CIBC Smart Account™ and an eligible CIBC credit card can select up to three benefits across travel, everyday banking, financial, and experiential categories each year, depending on their account tier. | CIBC
Through CAF, members will gain access to exclusive banking offers, financial education and tailored advice, while CIBC will also support industry research. The Castle initiative introduces scholarships for students and apprentices, alongside specialized banking solutions for tradespeople growing their businesses. | CIBC
The bank earned an overall rating of 9.1 out of 10 and a Net Promoter Score of 93.2, outperforming the industry benchmark across all 22 categories surveyed. Its strongest scores included financial planning support and technology (9.6), advisor education and development (9.4), and leadership (9.4). | CIBC
Forbes evaluated more than 2,000 companies and selected 300 using over 50 metrics covering employee and customer trust, financial performance and media sentiment. The recognition follows BMO’s recent accolades for responsible AI leadership in the 2026 Evident AI Index and its ninth consecutive inclusion among Ethisphere’s World’s Most Ethical Companies. | BMO
RBC will provide end-to-end ETF administration and securities lending services for four new funds, covering order management, fund accounting, and creation and redemption processes. Its integration with Bloomberg’s BSKT platform will also help automate ETF workflows, while giving NEI’s advisors and investors more ways to access actively managed strategies. | RBC
Scotiabank has redesigned its website with a simpler, mobile-first layout to help clients explore and compare banking products. Its Scotia High Interest Savings Account (HISA) rewards eligible clients with higher interest rates based on their Total Relationship Balance. The Scotia app is also being enhanced with personalized savings insights, balance-tier notifications, appointment booking and reminders, and expanded self-service credit card features, including PIN updates and card replacements. | Scotiabank
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The deal would expand Zafin’s capabilities in offer management, disclosure automation and marketing compliance, helping banks bring personalized products to customers faster. The combined business is expected to serve 16 of the top 20 US banks, with the acquisition set to close by the end of 2026. | BetaKit
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The funding will support commercialization of its gene-editing technology, which uses tiny chips to conduct experiments with up to 100 times fewer cells than traditional methods. DropGenie plans to launch its automated lab workflows commercially in Q2 2027, expand data partnerships, and grow its team. | BetaKit
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The new product is enabled through the options exchange Cboe, which extended its trading hours earlier this week. Questrade users approved for options trading can begin making bids at 7:30 a.m. and end at 4:15 p.m. on a limited list of individual stocks and exchange-traded funds (ETFs). Its index options trading is also expanding. | BetaKit
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Unlike its previous funds, the new fund uses a permanent, evergreen structure that offers greater flexibility for investors and allows Vistara to hold investments longer. It will continue providing debt and equity financing to mid- and later-stage North American technology companies, including those in AI, FinTech and healthtech. | BetaKit
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These partnerships are designed to embed prospecting intelligence, client meeting context, and verifiable financial planning capabilities directly into the Claude AI interface. By utilizing these integrations, advisors can access critical client data and execute actions across their existing tech stack without the need to toggle between multiple platforms. FINNY, an AI growth engine, has introduced its Model Context Protocol (MCP) connector. This allows advisors to analyze marketing campaign performance and enrich prospect data directly within Claude. Jump is expanding its footprint within the ecosystem through purpose-built skills that help advisors leverage client meeting notes and track decisions made during conversations. Finally, Conquest has integrated its SAM (Strategic Advice Manager®) engine into the platform. This provides advisors with access to client financial information and goal progress tracking. | Fintech Finance News
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Clio plans to integrate Page’s technology into its platform, helping legal teams anticipate regulatory changes and prepare for new requirements before they take effect. Page’s 12-person team will join Clio, while its existing product will continue serving customers. | BetaKit
Ribbon’s technology will be natively integrated into its new agentic recruiting experience, with its combined capabilities helping Dayforce customers source, screen, evaluate, and engage talent. The purchase price was not disclosed, nor was the timeline for when the transaction will be completed. | BetaKit
Thomson Reuters, Toronto-based content and technology company, launched the next generation of CoCounsel Tax, Audit & Accounting, a fully agentic AI platform built for tax, audit and accounting professionals
The platform goes beyond answering questions by completing complex workflows, analyzing documents and generating work products. Its responses are grounded in authoritative sources, allowing professionals to trace the reasoning behind results and verify their accuracy. | PR Newswire
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