BNN Bloomberg is Canada’s definitive source for business news dedicated exclusively to helping Canadians invest and build their businesses. Banco Santander SA has won a Canadian banking license as it continues its expansion across the Americas. Canada’s banking regulator, the Office of the Superintendent of Financial Institutions, issued an order for Santander Consumer Bank to
Credit: CC0 Public Domain Banks facing regulatory sanctions for financial misconduct tend to adopt riskier business practices, according to new research. The authors warn repeated or systemic misconduct can accelerate risk-taking in ways that weaken both individual institutions and the wider financial system. Researchers from the University of East Anglia (UEA), the US Department of
Questrade Financial Group Inc. moved a step closer to obtaining a banking licence in Canada, entering the final phase of a rigorous process to earn approval from the federal banking regulator. The Office of the Superintendent of Financial Institutions, or OSFI, published a notice on Friday that said the government had issued letters patent –
Photographer: Gabby Jones/Bloomberg The investment fintech Robinhood is expanding further into the financial services space with an announcement of several new products for the company’s Gold members. Robinhood Banking, a new digital banking platform with both checking and savings accounts, was announced by the California-based trading app provider during a Robinhood Gold keynote event on
Technology mutual funds are ideal for investors seeking long-term growth and impressive returns. Improving industry fundamentals and emerging technologies, such as artificial intelligence, machine learning, robotics and data science, are key catalysts for the sector’s growth. In addition, most funds investing in securities from the technology sector take a growth-oriented approach that focuses on companies
Dr. Hadiyah-Nicole Green has developed a novel cancer-killing technology, Laser-Activated NanoTherapy (LANT), that is of high clinical relevance in the field of oncology. In 2003, Dr. Hadiyah-Nicole Green graduated with a B.S. in Physics from Alabama A&M University with a plan to revolutionize the way consumers receive cable TV and internet. She had diligently prepared
A cryptocurrency ATM is sandwiched between a cash ATM and a live bait kiosk at a gas station in Woodbury as seen in March 2023. While Stillwater is considering banning cryptocurrency ATMs, officials in Woodbury and Forest Lake are considering ordinances that would require the registration of the business that hosts the ATMs. (John Autey
Mercury, a fintech that offers banking to businesses, has ended its relationship with its long-time partner Evolve Bank & Trust. Mercury will migrate its customers over to its other sponsor banks, Choice and Column. The move comes a few weeks after another Evolve partner, Dave, shifted its partnership with Evolve to Coastal Community Bank, and
Open this photo in gallery: Mark Carney was sworn in as Canada’s prime minister on March 14, taking charge of a country rattled by a breakdown in U.S. relations since President Donald Trump’s return to power.DAVE CHAN/AFP/Getty Images Mark Carney wants to move fast and build things. There was nothing subtle about the new Prime
Prometeo, a Latin American fintech, has launched what it calls “borderless banking” for business-to-business payments between the U.S. and Latin American countries. According to the company, Prometeo has developed middleware that integrates U.S. and Latin American financial infrastructures through a single application programming interface. Users can access local accounts to receive payments, automate collections, and