Two things happened in Canadian capital markets over the past five weeks that, taken together, signal a structural shift in how financial products will be created, issued, and settled in this country.
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 most dangerous phrase in banking isn't "market crash" or "regulatory investigation"—it's "that's how we've always done it." While Canada's Big Five banks cling to their fortress mentality around crypto, a mid-sized Alberta bank just showed them what happens when you actually listen to your customers instead of your lawyers.
Cross-selling for mortgage brokers happens when financial institutions, lenders, or individual brokers use information gathered during loan processing to pitch additional financial products. Cross-selling can be looked at as a form of customer retention. It's a hot topic in the industry because many mortgage brokers have questions about the pros, cons, and ethics of cross-selling financial products and banking products to get new customers that might actually be old customers.