Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe. If you want to read F|T before anyone else, make sure to subscribe using the form at the bottom of this page.
As CIOSC preps consumer framework, Canadian FinTech startups fear another open banking boondoggle (BETAKIT)
BetaKit has learned that the CIOSC will release a draft of its minimum viable framework for consumer-directed finance by the end of 2021 or early 2022. But some say it has become another venue for the ongoing power struggle between banks and FinTech startups over the future of open banking.
At a minimum, a modern billing and accounting system for SaaS or Tech companies should automate and streamline core financial management functions such as A/R, A/P and the financial close. But you can hardly fuel your growth and need for accountability and transparency by simply automating the minimum.
Download this checklist to help you evaluate SaaS accounting software solutions and ensure you get the modern features you need in your new system.
Dream Sports claims to have a user base of over 140 million users and employs close to 1,000 people.
In collaboration with majority owner the National Bank of Canada, Flinks is launching a new product called the Open Banking Environment, which will allow FinTech startups to securely access consumer data from financial institutions without the need for screen-scraping.
MoonPay lets users buy cryptocurrencies using conventional payment methods like credit cards.
California-based FinTech Tipalti expanding Canadian presence with Toronto office, 300 hires (BETAKIT)
The startup will be opening its second Canadian office on January 1, which comes in addition to its Vancouver-based office that opened on February 1, 2020. Tipalti plans to hire a total of 300 employees in Toronto by the end of 2023.
Revolut beats rivals for Android app downloads: exclusive data (BUSINESS INSIDER)
Revolut outpaced rivals in 2021 as downloads of the banking app soared ahead of the likes of N26, Monzo, and Starling.
Dasilva, one of the most outspoken CEOs in Canadian tech regarding social issues, stressed the importance of leading by example, embracing discomfort, and giving back during the November Patreon-exclusive BetaKit Live event, titled “Dax Dasilva on making a difference.”
Zhou told BetaKit at SAAS NORTH that when making deals with enterprises, it’s important to expect a lot of moving parts.
The shift to online shopping during the COVID-19 pandemic and an internet boom has led to Latin America becoming a hotbed for FinTech growth.
“With OSC Testlab, we are proactively identifying areas where innovative solutions can drive progress in Ontario’s capital markets,” said Grant Vingoe, chair and CEO of the OSC.
Jack Ma’s Ant moves ahead with credit-scoring firm (WALL STREET JOURNAL)
The FinTech giant will partner with state-owned companies to establish Qiantang Credit Reporting.
In the next BetaKit Live on Thursday December 2, leaders from TELUS Pollinator Fund for Good, the Global Impact Investing Network, and Gotcare explain the corporate venture capital and impact investing space.
The crypto trading hamster that outperformed the S&P 500 has died (BUSINESS INSIDER)
The crypto community is in mourning following the untimely death of Mr. Goxx, the crypto trading hamster that outperformed the S&P 500 since he began in June.
Breather, Ritual alumni look to ride retail investing wave with automated trading platform Composer (BETAKIT)
Backed by a group of investors that includes San Francisco’s First Round Capital and Toronto’s Golden Ventures, Composer aims to bring institutional investment strategies to retail investors.