The Canadian banking landscape just lost another player. But in a plot development nobody saw coming, the last one standing just got a whole lot stronger.
After years of consultation fatigue and regulatory hesitation, Canada's federal government unveiled Budget 2025 on November 4, accompanied by fintech announcements that actually move the needle. If you're operating in the Canadian financial services sector and haven't fully grasped what just happened, buckle up.
The math was simple. Too simple, actually.
Canada's fintech industry has a problem, and it's not the legacy banking systems we love to criticize. It's the alarming shortage of qualified professionals needed actually to replace those systems.
If you're running a challenger bank, neobank, or fintech in Canada and you're not popping champagne right now, you haven't been paying attention.