On July 28, Ramp officially launched in Canada and opened its first international office in downtown Toronto. It is a genuinely large moment. Ramp was last valued at US$44B after its US$750M raise in June, serves more than 70,000 organizations globally and processes over US$200B in annualized purchase volume. Canada is now the second country on that map.
On July 24, Mortgage Professionals Canada released the 2026 Consumer Research Report, fielded by Bond Brand Loyalty across close to 2,000 Canadians in seven cities between February 5 and 25. The two headline numbers: broker channel share reached 38% overall, and 48% among recent first-time buyers. Those are not incremental moves; among first-time buyers, broker use is now within a rounding error of tied with the direct-to-lender channel that Canadian banks have owned for decades.
On July 13, OSFI posted a technology-risk bulletin titled Generative and Agentic Artificial Intelligence: Implications for Technology, Cyber Security, and Operational Resilience. The regulator's messaging positions it as "sound practices" grounded in the existing B-13, E-21, and B-10 guidelines, and technically, that framing is correct; no new legal duty came into force that day. Practically, the bulletin reads like the polite Canadian version of a supervisory letter: here are the questions we are going to start asking; here are the answers we would like to hear.
On July 7, Scotiabank, Sun Life and TELUS teamed up with Lightworks to launch the AI Consortium, a shared initiative to build and permanently own the enterprise AI control infrastructure that Canadian regulated institutions actually need. The flagship program is called the Agentic Control Plane; it is already running in production, processing more than 2 trillion tokens per month, and delivering regulatory-grade auditability across every model, agent, user and inference pipeline in scope.
The macro renewal-wave story has been told for three years. This week it stopped being macro. The Bank of Canada's 2026 Financial Stability Report put the final wave of pandemic-era fixed mortgages in one clean number: about 12% of all outstanding Canadian mortgages, the last cohort of five-year fixed loans originated at 2020 to 2021 lows, will renew over the next 12 months at an average payment increase of about 15%. And the same report estimates that roughly 4% of 2027 renewers nationally, and about 9% in the Toronto area, may not qualify to refinance at current rates and home values. Those borrowers cannot shop the market for a better rate. Their only route to a new term is signing what their existing lender offers.