Latest Articles

3
Sep

What Is a Schedule I Bank?

What is a Schedule I Bank in Canada?  It’s OK to admit that maybe there’s a point where your understanding of the banking landscape kinda-sorta-slips-away-from-you. Maybe you know a thing or two about investment banking. Maybe you’re even a bit of a specialist in personal investments at your firm. The kind of person everyone goes to for advice on the

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25
Aug

The Different Types of GICs and Term Deposits

We’ve written about Guaranteed Investment Certificates (GICs) a lot lately. I know this because before I fell asleep last night, I started thinking about the different GIC types.  Afterward, I immediately thought, this is a really weird thing to think about right now. So, since my mind is fixated on the details surrounding GICs, let’s go one step further and
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15
Aug

What Is a Non-Bank Financial Institution?

Isn’t a Non-Financial Institution Still a Financial Institution? Ok, so maybe it’s not the best name. After all, you wouldn’t call a bicycle a non-skateboard. Just like you wouldn’t call a horse a non-cow or an airplane a non-bird. You see where I’m going here. But sometimes—even despite personal intuition, common sense, and logical rationalization—ridiculous things still happen. (Think presidential

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8
Aug

How Do You Open a Bank in Canada?

How Do You Start & Open a New Bank in Canada? You’re here for one of two reasons. The first reason: You’re a financial service visionary about to set off an epic journey of establishing Canada’s next Schedule I bank. You’ve come armed with an entirely new banking idea that blends next-generation technology with personalized banking experiences that tech-savvy Canadians

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7
Aug

What is a White Label Bank?

What Is White Labeling in Financial Services? White labeling is where companies take third-party manufactured products, throw their own label or brand on it, and market the products as their own. It happens everywhere. You might not know when you encounter a white-label product, but you’re not supposed to know. That’s entirely the point. Sometimes called private-labeling, white-labeling gives brands

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22
Jun

Cloud Banking | What Is Cloud Banking?

What Is Cloud Banking and Why Are Banks Moving to the Cloud?  What comes to mind when you hear the words cloud banking? Now, depending on your perspective, your initial thoughts might be quite different. As a consumer, it’s hard not to immediately conjure up images of happy people walking around on fluffy, white cotton terrain somewhere in the sky, making

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21
May

What’s the Difference between Open Banking and Banking as a Service (BaaS)?

Spot the Differences: Open Banking & Banking as a Service I do a bit of grade one work these days. It’s not that much, really. A little more than usual, though. Actually, I really shouldn’t take any real credit for it because I can’t say with any level of confidence that I personally do the work—my daughter takes care of

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19
May

What Is Digital Lending?

Loans and mortgages aren’t completely broken. That’s primarily because the main difference between something that’s broken and something that’s not broken is that broken things generally can’t do the functional job they were initially designed to do, often because some critical element or piece is either damaged or missing. For the most part, traditional loans and mortgages still do the

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13
May

What is an RESP?

What Is an RESP? It’s the question we all wished our parents had asked at any point during the nearly two decades before we innocently packed up our torn Levi’s and White Stripes CDs and headed off to study at one of the most expensive universities, in one of the most expensive Canadian cities, where we would spend the next

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25
Apr

What Is Mortgage Software?

Before exploring mortgage software and how this specialized financial services solution is used by banks and financial institutions, let’s take a moment to look at the housing market. Maybe you’ve heard a little something about the rising price of homes in Canada. Sound familiar? With what’s been referred to as a perfect storm consisting of near-zero interest rates, record-low inventory

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