Fathom4sight Newsletter: Weekly FinTech news curated by Fathom4sight!
Friday February 16, 2024
Payments
Visa’s suite of B2B payment solutions now enables financial institutions to add virtual corporate cards to the digital wallets of their clients’ employees. This new digital wallet capability provides greater convenience, security and flexibility for corporate users. | PYMNTS
The company has obtained an MSB license from Canada's Financial Transactions Center. Earlier, the firm partnered with Mastercard to launch a new corporate card product. | Finance Magnates
Shopify generated $2.14B USD in revenue in Q4 2023, a 25 percent year-over-year increase that translates to 30 percent when accounting for the sale of Shopify’s logistics business, according to the firm’s latest earnings report. Per Yahoo Finance, the average analyst estimate was $2.08 billion. | BetaKit
FI Tech & Software
Nordic Capital has signed an agreement to acquire a majority share in Zafin, a Vancouver, Canada-based provider of SaaS core modernization and transformation solutions for financial institutions around the world.?| FinSMEs
Financial Institutions
Canadian financial cooperative Desjardins Group is set to reduce the total number of ATMs and service centres it operates across Quebec and Ontario by 30% by 31 December 2026 as more and more customers switch to online banking. | FinTech Futures
Dynatrace, the leader in unified observability and security, today announced that BMO, North America’s eighth largest bank by assets, is using the Dynatrace? platform to scale its digital capabilities and deliver best-in-class experiences to customers worldwide. | Finextra
Scotiabank announced that Jake Lawrence, Chief Executive Officer and Group Head, Global Banking and Markets, has made the decision to leave the Bank to join Power Corporation of Canada. Mr. Lawrence joined Scotiabank in 2002, and has held progressively senior roles in Finance, Treasury and Global Banking and Markets, most recently leading the Bank's wholesale banking and capital markets business. | Newswire
CIBC announced that seven new Canadian Depositary Receipts ("CDRs") will be listed on Cboe Canada and available for trading on February 15. Introduced to investors over two years ago, CIBC will have a total of 54 CDRs available in market. | Newswire
The Bank of Canada will be in no rush to cut interest rates after Statistics Canada reported a larger-than-expected employment gain last month, economists say. The federal agency's labour force survey released Friday said the economy added 37,000 jobs in January after several months of relatively no change in employment. | BNN Bloomberg
Insurance
TruShield is proud to announce their new collaboration with Visa, a leader in digital payments. The collaboration gives eligible Visa business cardholders access to TruShield's commercial insurance policies at a preferred rate and aims to help ensure their customers are more aware of cybersecurity threats and protected against them. | Newswire
领英推荐
Vitech Systems Group (Vitech), a leading global provider of benefits and administration software for insurance and retirement, has been chosen by Desjardins Group to grow its insurance business. Vitech's V3locity platform will be leveraged in Desjardins' expansion strategy in group benefits to transform customer experience while scaling digital efficiencies. | Newswire
Imperial PFS Canada (IPFS Canada), a leading provider of payment solutions, is thrilled to announce a strategic partnership and integration with Quotey. By integrating Imperial PFS Canada’s extensive experience in payment solutions with Quotey’s innovative technology, the partnership creates a process for commercial brokers to offer streamlined payment solutions through the Quotey workflow. | Insurance-Canada.ca
Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, is pleased to announce that it has acquired Mitchell Sandham Inc. and its subsidiary, Mitchell Sandham Group Benefits Inc. (collectively, Mitchell Sandham). Terms of the transaction were not disclosed. | Insurance-Canada.ca
Aviva Canada announced the launch of its Net-Zero Supplier Accelerator program after a successful pilot with a small group of its suppliers. The Accelerator program, aligned with the Science Based Targets initiative (STBi)'s standards, supports suppliers in setting targets that uphold the Paris Agreement's aim to limit global temperature rise to 1.5C above pre-industrial levels. | Newswire
Based in Newmarket, Ontario, KRS Insurance has been providing industry-leading coverage for pet care and beauty service professionals across Canada for more than 20 years through its well-established PROfur and PROtique programs. This partnership will serve the evolving needs of the growing pet care and beauty service industries across Canada. | Insurance-Canada.ca
Capital Markets
JLL announced the growth of its national Capital Markets platform with the hiring of Executive Vice Presidents, Edgar Buksevics and Kevin Meikle, along with an established team supporting all activities in the market. | Newswire
Challenger Banking
Toronto-based corporate card and expense management technology startup Float has secured a $50-million CAD credit facility from Silicon Valley Bank (SVB), now a division of United States (US)-based First Citizens Bank.?| BetaKit
Wealth Management
AGF Management Limited has expanded its alternatives business, AGF Capital Partners, through a strategic investment in New Holland Capital, LLC, a multi-strategy investment manager based in New York. This move aims to enhance AGF's alternatives offerings with absolute return-focused strategies and specialized credit investments. ?| Wealth Professional
Others
Sibli, which applies AI to investment research, is one of the first four investments that Toronto’s Staircase—led by former Real Ventures managing partner Janet Bannister—has made since closing its first VC fund in September.?| BetaKit