Scotiabank - Global Banking and Markets’ Post

Fintechs Canada and CAMP recently made waves with their joint plan for the Canadian banking sector, highlighting competition as a key to greater success and stability in the market. Whether you're a consumer, a financial expert, or someone curious about the future of finance in Canada, this report sheds light on pivotal changes that could reshape the industry. It's about making Canada's financial sector more competitive, fair, and resilient. 💸 Read the report here: https://loom.ly/kZY2Hgg

Exploring Unpopular Views: Canada's Banking Landscape Ready to stir the pot? Today, let's chat about something a tad controversial - the possible lack of competition in Canada's banking world. Brace yourselves; this one might not be everyone's cup of maple syrup. 🤔 We all love the stability our financial institutions bring, but could this calm exterior be hiding a lack of innovation and healthy market rivalry? While we tip our toques to the resilience of our banking system, let's face the music about the limited choices available to us, eh? Could a bit more competition spark innovation and elevate the services we receive? Sure, stability is cool, but what if a little healthy competition nudged our banks to not just secure our business but to go with more personalized services, and groundbreaking financial solutions? Picture a future where banks aren't just chasing customers but are in a fierce race to redefine what's possible. Now, I get it - this might not be the most popular opinion on the block. We all love our reliable banking system, no doubt. But, should we be rooting for a bit more hustle and bustle in the financial marketplace? Drop your thoughts and see where it takes us. 👥 #UnpopularWisdom #CanadianBankingShakeup #FinancialInnovation #LinkedInDebate

Planning your move to Canada? Here already? Nothing beats good advice on how to navigate this big change! 🏡 Find out why MoneySense named us the best Canadian bank for newscomers! 👇🏽 #NBCTeam

Planning your move to Canada? Here already? Nothing beats good advice on how to navigate this big change! 🏡 Find out why MoneySense named us the best Canadian bank for newscomers! 👇🏽 #NBCTeam

Planning your move to Canada? Here already? Nothing beats good advice on how to navigate this big change! 🏡 Find out why MoneySense named us the best Canadian bank for newscomers! 👇🏽 #NBCTeam

Planning your move to Canada? Here already? Nothing beats good advice on how to navigate this big change! 🏡 Find out why MoneySense named us the best Canadian bank for newscomers! 👇🏽 #NBCTeam

Today, we are very excited to share that our OFNC Board has sent a letter to the Hon. Chrystia Freeland, the Hon. Peter Bethlenfalvy, and others from the Finance Canada / Finances Canada, on advocating for the effective implementation of Canada’s Consumer-Driven Banking framework. First and foremost, we commend the Finance Canada / Finances Canada for its commitment to advancing Consumer-Driven Banking in Canada, a pivotal step toward enhancing financial inclusivity, increasing competition across the financial ecosystem, and providing Canadian consumers and small businesses with extended choices. Our letter aimed to address some key areas that we consider require further clarification to ensure Consumer-Driven Banking is implemented effectively. Highlights: ✅ Scope of Data Sharing ✅ Timelines ✅ Budget ✅ Opt-in Timelines A special thank you to our board, members and others across the ecosystem for your continued support and commitment to pushing Consumer-Driven Banking forward in Canada 🇨🇦 You can read our full letter to The Department of Finance below. 👇 Eyal Sivan Michelle Beyo Roy Kao Tara Wilson, CDI.D Donna Galloway Bhupinder Singh Daniel Kornitzer Karen Budahazy Abdi H. Cindy Zhang Carlos Beltran FDATA North America, Financial Data Exchange, Open Banking Expo, Fintechs Canada #openbanking #openfinance #Consumerdrivenbanking #CDB #Canada #innovation #opendata #bankinginnovation

If you’re in the process of moving to Canada, your finances are one of the first things you’ll want to sort out upon arrival. Many newcomers may feel overwhelmed by the number of banking options available, especially because most banks will claim that they have the best offer for newcomers. Our partner, Scotiabank, is here to help you cut through the noise and simplify the process. From understanding banking basics, finding the right advisor, setting financial goals, and more, Scotiabank’s 𝘚𝘵𝘢𝘳𝘵𝘙𝘪𝘨𝘩𝘵™ Program for newcomers will help make banking in Canada easier. You’ll even have the opportunity to earn up to $1,800* in value your first year.

Planning your move to Canada? Here already? Nothing beats good advice on how to navigate this big change! 🏡 Find out why MoneySense named us the best Canadian bank for newscomers! 👇🏽 #NBCTeam

Planning your move to Canada? Here already? Nothing beats good advice on how to navigate this big change! 🏡 Find out why MoneySense named us the best Canadian bank for newscomers! 👇🏽 #NBCTeam