Canada

The nation's finance minister is set to overturn Bank Act restrictions that would have prevented credit unions from using words like "bank" or "banking" in their communications.

The Ontario-based CU will use Fiserv’s DNA platform to automate workflows.

Momentum is continuing unabated for blockchain projects and initial coin offerings as the potential for blockchain continues to be realized.

It would appear that momentum is continuing unabated for blockchain projects and ICOs (initial coin offerings), as the potential for blockchain continues to be realized.

Erminia Johannson's promotion is part of an effort by BMO Financial to generate more revenue from its U.S. operations.

R&D capabilities at Interac got a boost last month when Interac Corp. was created by merging Interac Association and Acxys Corp. It brought together a payments network handling nearly 5.7 billion debit transactions annually with a company specializing in payments development, management and consultation.

VersaBank, a Canadian lender led by a tech-savvy CEO with a penchant for planes and classic motorcycles, is building a virtual safety deposit box for cryptocurrencies and other digital assets.

Some of the most important work in payments happens before the transaction, when retailers have to make sure their devices can handle the new technologies and card types that are about to get thrust upon them.

Interac's e-transfer system has jumped in usage, and has become a gateway for myriad other services including a collaboration with MoneyGram.

The risk to Canada's financial system from tapped-out borrowers is merely shifting — this time to a market where there's no oversight from the country's national bank regulator and new stress-test rules don't apply.