Abhishek Sinha

Gen AI is having an increasingly larger impact on many industries versus other historic innovations. The Banking industry in Canada has been slower to adopt and regulators have been cautious about its deployment. It might be a great equalizer for smaller banks, credit unions and fintechs as we compete with the large banks. Deciding which business lines and the depth to deploy will be a key part of strategic planning this year for most institutions. McK has a good article on this topic. Enjoy the read.

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Recently, I spoke with CanadianSME about the transformative potential of open banking for Canadian small businesses. In the article, I explore how secure data sharing, personalization, and innovation can unlock new growth opportunities for small businesses across the country. From streamlining operations to enabling smarter lending, open banking is reshaping the financial landscape.    If you’re interested in learning more, you can check out the full article here: https://lnkd.in/gPMnDnen If you're interested in learning more about our recent open banking survey report, you can checkout the full article here: https://lnkd.in/gt4dT5if #EYCanada #ShapeTheFutureWithConfidence

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TD is selling its merchant payment business to Fiserv. TD was the last big Canadian bank still operating its merchant processing unit: - RBC & BMO co-own Moneris - CIBC outsources to Global Payments Inc. - Scotiabank outsources to JPMorganChase Why? Payment processing is a competitive, low margin, tech intensive business. Outsourcing allows TD to focus on is core services (banking) and retains the client relationship, while still earning a referral fee on payments. —- Want more? Subscribe to the Canadian Fintech Newsletter in the comments below 👇

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Trust built on performance. Innovation proven in partnership.   We’re proud to deepen our partnership with a leading Canadian Multinational Bank to accelerate its global deposit growth strategy, successfully deploying our eMACH.ai Core Banking Platform, across their Corporate and Investment Banking business.   The extension, reflects our shared commitment to reliability, agility and innovation. Designed to handle high volumes at speed, our platform enhances customer experiences through AI-led personalisation, streamlines operations with 24/7 availability and real-time processing.   This continued trust marks a visionary step in transforming payment infrastructure and reaffirms our role as a strategic platform partner in North America’s high value payments modernisation programs.   Read the full press release here: https://lnkd.in/dx7e3b8Z   #IntellectConsumerBanking #eMACHai #FirstPrinciplesThinking #CoreBanking #CashManagement #BankingTransformation

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New Bank of Canada Policy on RPAA Registration: Refusal, Revocation & Supervision Fees 🔑 Key Highlights of the Policy 1. When Can Registration Be Refused? Not within RPAA scope: If an applicant does not meet PSP criteria under RPAA, the Bank will refuse registration. Other refusal grounds: False/misleading information, lack of responsiveness, or any grounds listed in Annex 1. Ministerial directive: If the Minister of Finance directs refusal (e.g., for national security concerns), the Bank must comply. 2. When Can Registration Be Revoked? Out of RPAA scope: If a PSP no longer falls under RPAA due to operational changes. Other revocation grounds: Violations of RPAA, false information, or other issues listed in Annex 2. Minister-led revocation: The Minister can compel revocation in cases such as national security risks. 3. Communication & Review Process Refusal: Applicants receive a notice of refusal and have 30 days to request a review; the Bank must decide within 90 days. Revocation: The Bank issues a notice of intent to revoke with the same 30-/90-day review window. Minister review: Reviews tied to Ministerial directives are handled by the Ministry. 4. Public Disclosure Once decisions are final, the Bank will publish lists of refused applicants and revoked PSPs, including reasons. 5. Re-Registration Entities that were refused or revoked can reapply once they address the original concerns. 6. Supervision Costs & Fees The Bank confirmed it will begin charging supervision fees to PSPs to recover regulatory costs. These fees will come into effect once the cost-recovery formula and regulations are finalized. 💡 Why This News Matters for Fintech & PSPs Clarity: Clear refusal and revocation grounds increase regulatory transparency. Accountability: Public disclosure and re-registration rules add fairness to the process. Compliance costs: PSPs should plan for supervisory fee obligations once regulations are finalized. National security: Ministerial oversight ensures that critical risks are addressed If your firm is preparing for RPAA registration, this is the time to review compliance readiness—and to start budgeting for supervision fees. Staying proactive will be key to avoiding setbacks under the new framework. make a article image of 16:9 for this article. and i'll be posting it from id so do adjustments if someone else's name is present anywhere'

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Canada’s transition to “a more digital mindset” for treasury operations is accelerating, with the country’s first real-time rail for payments coming soon. Learn how Bank of America is leading this change: https://go.bofa.com/4tolj8

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The Bank's AI team – Layer 6 – recently announced a new predictive foundation model. TD AI Prism represents a giant leap forward when it comes to providing AI supports and solutions for banking clients. Traditionally, AI technologies are often designed to perform a single task, such as identifying which customers were most likely to need to open a savings account next. But predictive foundation models, such as TD AI Prism, go to the next level and can predict, for example, which customers may need a range of savings or investment products to help suit their needs. Learn more about how TD AI Prism works and what the model means for TD clients and colleagues: https://go.td.com/4lZOphL

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