Canada Banks

Shift To Enterprise Fintech Puts Customer Experience First

Kevin Sandhu | Posted 10.19.2016 | Canada Business
Kevin Sandhu

When I started my company in 2014, I was excited to build a "fintech" company that used technology and data to reinvent banking for everyday consumers. Since then, fintech has rapidly become a buzzword.

Fintech Isn't Disrupting Big Banks As Much As You'd Think

Mike Gardner | Posted 08.04.2016 | Canada Business
Mike Gardner

The unsexy truth is, larger companies are better positioned to innovate than start-ups. They have more money, more man-power, a more trusted brand, and most of all, more ways to reach their customers. Out of all bank customers, some are technology enthusiasts who moved entirely to robo advisers as soon as they could.

The Fintech Revolution Is Just Getting Started

David Lester | Posted 05.19.2016 | Canada Business
David Lester

You can now open savings and chequing accounts, manage your retirement and investment accounts and get loans online, never mind being able to leave your wallet at home and use your phone to buy everything. Here are the top companies that can take you from money 2D banking to 3D.

Why Betting On An Economic Meltdown Is Enriching Gold Investors

Marc Davis | Posted 05.02.2016 | Canada Business
Marc Davis

Something wicked this way comes! So say many leading stock market forecasters, who worry that a bubbling witches' cauldron of global economic woes is in danger of boiling over. Consequently, the threat of a renewed global recession looms large, they warn.

Canada And Mutual Fund Fees: Why We're Failing

Ludovic Siouffi | Posted 02.26.2016 | Canada Business
Ludovic Siouffi

In a 2015 global study by Morningstar, Canada's investment environment was rated the worst in the developed world when it came to Fees and Expenses. Don't worry, though, there's good news; our D- score is up from the F earned in 2014. The real question is the implication of our less-than-impressive grade.

How Refugees And Newcomers Can Access Canadian Bank Services

Christine Shisler | Posted 02.24.2016 | Canada Business
Christine Shisler

One of the first things you'll need to do is open a Canadian bank account. This will give you a safe place to deposit and access your money whenever you need it. Canada's banking system can differ from other countries, and it takes time to understand the various types of financial institutions, bank accounts and services available.

Money For The Privileged, Austerity For The Rest Of Us

Jeff Begley | Posted 12.08.2015 | Canada Politics
Jeff Begley

I decided to give you a short list of the Couillard government's extraordinary spending this fall for friends of the Liberal Party. You see, the list speaks for itself and shows how much the austerity we are confronted with varies depending on who's involved.

Newcomers Are Leading The Way In Small Business Ownership

Christine Shisler | Posted 10.30.2015 | Canada Business
Christine Shisler

Owning a business requires long hours and hard work, and it may take years to show a profit. For a newcomer, there can be additional challenges in the beginning including limited contacts in Canada, familiarity with local language and business practices, and as Cristina found, access to credit.

Bank Branches Built For Millennials

David Lester | Posted 10.27.2015 | Canada Business
David Lester

Money isn't about numbers. It is about people, and values, and goals. The centre of a bank or for anyone coaching people to be better with their money should reflect that. It should be like a Home Depot for finances -- we can show you and cheer you on to do it yourself or be here for the hard stuff and take your hand when you need it

5 Reasons to Convince Your Parents to Get Out of Mutual Funds

Tea Nicola | Posted 10.24.2016 | Canada Business
Tea Nicola

We've all probably met a financial advisor who told us to buy a "balanced mutual fund," and hard sold their own company's "top performing" fund. They tell a good story, but do they really have our best interests at heart?

How to Teach Your Kids About Money

Kathy Buckworth | Posted 10.06.2016 | Canada Parents
Kathy Buckworth

With the first day of school well behind us, and students settling into new routines, now is a great time to take up some learning outside the classroom. Many school curricula don't include financial literacy, so demonstrating the value of money in real world situations has extra importance.

Canadian Banks Not Ready To Meet Needs For Mobile Payments: Report

CP | Alexandra Posadzki | Posted 09.10.2016 | Canada Business

If banks don't improve their online user experience, their ability to sell consumer credit products, car loans and mortgages may become diminished.

NDP Calls On Ottawa To Ban 'Pay-To-Pay' Bank Fees

CP | Craig Wong, The Canadian Press | Posted 06.30.2015 | Canada Business

OTTAWA - The NDP has called on Ottawa to ban so-called "pay-to-pay" fees charged by Canada's big banks.NDP MP Andrew Cash said Thursday that he wants ...

Is There Any Point in Saving Money Anymore With These New Bank Fees?

Douglas Hoyes | Posted 04.01.2015 | Canada Business
Douglas Hoyes

Thanks to the government of Canada (and most other governments around the world) pushing interest rates to very low levels, there appears to be no point in saving money. Banks pay zero interest on a typical savings account, and GICs aren't much better. What's the point of saving?

Lessons On the Dangers of Income Inequality... From TD Bank

Dr Ryan Meili | Posted 02.27.2015 | Canada Politics
Dr Ryan Meili

It is perhaps discouraging that the health effects of inequality have not been sufficiently concerning to drive decision-makers to change policies, but a new kind of evidence may make a greater difference. It's not only the people in unequal countries that are sicker, it's their markets as well.

Bankers Beware: Here Comes Disruption

Diane Francis | Posted 08.16.2014 | Canada Business
Diane Francis

Toronto's and Ontario's cash cow -- banking -- is going to face increasingly rough seas. This won't happen immediately, but a steadily downward trajectory affecting profits and employment is clear. At a recent high-level conference in New York on the future of finance, the news was great for consumers but grim for the world's bankers.

This Economic Cycle's Oxymoron: More Growth, Less Cash

Peter Hall | Posted 07.08.2014 | Canada Business
Peter Hall

Cash has been plentiful in emerging markets. Between 2009-2012 as quantitative easing ramped up, there was a massive expansion in borrowing on global bond markets by emerging market (EM) sovereigns, banks and companies. As a result, EM economies are now closely integrated into global debt markets, and thus more affected by actions taken in Developed Markets (DMs), particularly the withdrawal of quantitative easing (QE).

Big Change Coming At CIBC

CP | Ross Marowits, The Canadian Press | Posted 06.24.2014 | Canada Business

MONTREAL - CIBC says it is eyeing big-ticket acquisitions in the United States as the Toronto-based bank seeks to boost earnings from wealth managemen...

Don't Get Upsold - Treat Your Bank Like a Store

Tim Paziuk | Posted 06.12.2014 | Canada Business
Tim Paziuk

Is our financial system broken or just designed to take advantage of the average person? When you go to the bank to make a deposit or pay a bill are you expecting to be sold? Probably not, but it happens all the time.

BMO Q1 Profit Rises

CP | The Canadian Press | Posted 04.27.2014 | Canada Business

TORONTO - Bank of Montreal (TSX:BMO) saw its profits grow to $1.06 billion in its latest quarter, boosted by improved results across its business and ...

Banks Are Playing Russian Roulette With Our Financial Security

Nick Fillmore | Posted 02.08.2014 | Canada Business
Nick Fillmore

Today, while regulators struggle with banks to get the derivatives market under control, these gambling instruments are being used just as dangerously as they were leading up to the recession. In fact, the banks and traders are even more aggressive now.

Canadians Are Going Bankrupt, So Let's Change the Money Conversation

Tanya Raheel | Posted 10.06.2014 | Canada Business
Tanya Raheel

Did you know that not only did the overall number of women (especially single, divorced and widowed) who declared bankruptcy after the 2008 Recession go through the roof both in Canada and the U.S., but it's been on a steady rise ever since?

How America's Return to Community Banks is Bad News for Canada's TD and BMO

Robert Waite | Posted 01.23.2014 | Canada Business
Robert Waite

In a town perhaps previously best known for providing the dirt that allowed Boston to double in size by filling in its swampy Back Bay there is a startling banking counter-revolution underway. Led by long-established but newly-rejuvenated Needham Bank and involving not only that town but those nearby, community banking is reclaiming market share.

When it Comes to Your Mortgage, Every Day is Opposite Day

Tim Paziuk | Posted 10.14.2013 | Canada Business
Tim Paziuk

It wasn't too long ago that banks were recommending locked in mortgages because they told us rates could be going up. What happened, of course, is that interest rates came down as we've seen, and a lot of people were (and some still are) paying significantly higher interest.

The Secret the Banks Don't Want You to Know

Joaquin Benitez | Posted 09.08.2013 | Canada Business
Joaquin Benitez

As the old saying goes, "the best way to make money is to stop losing money." Having the knowledge of how lending institutions operate is empowering. What is the secret that the bank does not want you to know? The bank does not want to take away your home!