Fintech Development Services Canada | Digital Banking, Payments & Financial Innovation

Big0 delivers enterprise-grade fintech development services across Canada, navigating the complex regulatory landscape of Canadian financial services while building innovative digital banking, payment, and financial technology solutions. From Toronto's Bay Street to Vancouver's fintech scene and Montreal's innovation ecosystem, we provide fintech solutions that comply with OSFI regulations, provincial securities laws, FINTRAC requirements, and PIPEDA privacy standards.

Our Canadian fintech practice combines deep technical expertise with comprehensive understanding of Canadian financial regulations, payment systems (Interac, Payments Canada), and the unique requirements of Canada's banking sector. Whether you're building a digital bank, payment platform, lending marketplace, or wealth management solution, we deliver compliant, secure, and innovative financial technology.

Why Canadian Fintech Companies Choose Big0

OSFI Regulatory Compliance

Office of the Superintendent of Financial Institutions (OSFI) OSFI regulates federally regulated financial institutions (FRFIs) in Canada:

Banking Regulations: - Bank Act Compliance: Requirements for federal banks and foreign bank branches - Capital Adequacy: Basel III implementation in Canada (CET1, Tier 1, Total Capital) - Liquidity: Liquidity Coverage Ratio (LCR), Net Stable Funding Ratio (NSFR) - Technology and Cyber Risk: OSFI B-13 guideline for technology and cyber security - Operational Risk: Sound business and financial practices

Digital Banking Requirements: - OSFI's Fintech Advisory Committee: Staying current with evolving fintech guidance - Third-Party Risk Management: Guidelines for outsourcing and partnerships - Model Risk: Validation requirements for AI/ML in credit, risk management - Consumer Protection: Fair treatment, transparency, complaint handling - Deposit Insurance: CDIC (Canada Deposit Insurance Corporation) compliance for deposits

Regulatory Reporting: We build systems for automated regulatory reporting: - OSFI Returns: Balance sheet, capital, liquidity reporting - Stress Testing: OSFI-mandated stress testing and scenario analysis - Recovery and Resolution Planning: Living wills for large institutions - Pillar 3 Disclosure: Public disclosure of capital, risk management

Payments Canada and Payment Systems

Real-Time Rail (RTR) Canada's new real-time payment system launching with enhanced capabilities:

• ISO 20022 Messaging: Modern payment message standards
• Real-Time Settlement: Immediate payment finality 24/7/365
• Rich Data: Enhanced remittance information for corporate payments
• Request to Pay: Payment requests with acceptance/decline by payer
• RTR Integration: Building fintech apps leveraging RTR capabilities

Interac Network Canada's ubiquitous debit and payment network:

• Interac Debit: Point-of-sale debit payments (98% of Canadians have Interac card)
• Interac e-Transfer: P2P and B2C payments via email/mobile
• Interac Online: E-commerce payments direct from bank accounts
• Interac Flash: Contactless debit payments
• API Integration: Interac APIs for fintech applications

Large Value Transfer System (LVTS) Wholesale payment system for large-value transactions:

• LVTS Participation: Requirements for direct participation
• Indirect Participation: Using LVTS through correspondent banks
• Settlement: Understanding Canadian settlement processes
• Migration to Lynx: Transition to new wholesale payment system

Automated Clearing Settlement System (ACSS) Batch payment system for cheques, direct deposits, pre-authorized debits:

• ACH Payments: Direct deposit, PAD, bill payments
• ACSS Rules: Compliance with Payments Canada rules
• Same-Day ACH: Faster batch settlement options
• Return Handling: Managing returned payments, NSF

FINTRAC Compliance (AML/ATF)

Money Services Business (MSB) Registration Fintech companies handling funds must register with FINTRAC:

Registration Requirements: - MSB Registration: Money services businesses (remittance, foreign exchange, virtual currency) - Business Information: Detailed business description, ownership structure - Compliance Program: Risk-based AML/ATF program documentation - Agent Reporting: Reporting agents and service providers - Beneficial Ownership: Identifying ultimate beneficial owners

Transaction Monitoring and Reporting: We implement comprehensive AML/ATF compliance:

• Know Your Customer (KYC): Identity verification, client information records
• Enhanced Due Diligence (EDD): For high-risk customers, PEPs, foreign PEPs
• Ongoing Monitoring: Continuous monitoring for suspicious activity
• Suspicious Transaction Reports (STRs): Detecting and reporting suspicious transactions
• Large Cash Transaction Reports (LCTRs): Reporting CAD $10,000+ cash transactions
• Electronic Funds Transfer Reports (EFTRs): International transfers CAD $10,000+

Technology for AML Compliance: - Transaction Monitoring: Real-time screening against rules and ML models - Sanctions Screening: OSFI, UN, OFAC sanctions lists - PEP Screening: Politically Exposed Persons databases - Name Matching: Fuzzy matching for entity resolution - Case Management: Investigation workflows for alerts

Provincial Securities Regulation

Canadian Securities Administrators (CSA) Fintech involving securities must comply with provincial regulators:

Securities-Based Fintech: - Robo-Advisors: Registration as portfolio manager or exempt market dealer - Investment Apps: Dealer registration for trading platforms - Crowdfunding Platforms: Funding portal or exempt market dealer registration - Tokenized Securities: Securities law compliance for security tokens - Alternative Trading Systems: Marketplace registration for ATS

Ontario Securities Commission (OSC): - Dealer Registration: Investment dealer, mutual fund dealer, exempt market dealer - Adviser Registration: Portfolio manager, restricted portfolio manager - Client Relationship Model (CRM): CRM2 relationship disclosure, performance reporting - Know Your Client (KYC): Suitability requirements for investments - Best Interest Standard: Acting in client's best interest (coming reforms)

Autorité des marchés financiers (AMF) - Quebec: - Quebec Registration: Separate registration for Quebec operations - French Language: All client communications in French - Consumer Protection: Quebec consumer protection laws - Distribution: Restrictions on product distribution in Quebec

Open Banking in Canada

Open Banking Implementation Canada is moving toward open banking (consumer-directed finance):

Current State: - Screen Scraping: Current reliance on credential-sharing (major risk) - Advisory Committee: Federal open banking advisory committee recommendations - Gradual Implementation: Phased rollout expected starting 2024-2025 - Read/Write Access: Initially read access, later payment initiation

Preparing for Open Banking: We help fintechs prepare for Canadian open banking:

• API Standards: Following emerging Canadian API standards (likely based on UK, Australia)
• Consent Management: Robust consent and authorization flows
• Data Security: Encryption, secure authentication, audit trails
• Customer Authentication: Strong customer authentication (SCA)
• Fallback Strategies: Continuing to support pre-open-banking integration methods

Use Cases: - Account Aggregation: Viewing accounts from multiple institutions - Payment Initiation: Initiating payments from bank accounts (later phase) - Credit Decisioning: Using bank data for lending decisions - Personal Financial Management: Budgeting, spending analysis, financial planning - Switching: Easy switching between financial institutions

Fintech Services

Digital Banking and Neobanks

Digital-First Banking Platforms Building modern banking experiences for Canadian consumers:

Core Banking Features: - Chequing and Savings: Digital accounts with competitive rates - Debit Cards: Interac debit and international debit (Visa/Mastercard) - Bill Payments: Integration with Canadian billers through CPA - Interac e-Transfer: P2P payments via email/mobile - Real-Time Balances: Up-to-the-second account balances - Spending Analytics: AI-powered insights into spending patterns

Mobile Banking Apps: - iOS and Android: Native mobile apps for exceptional UX - Biometric Authentication: Face ID, Touch ID, fingerprint - Card Controls: Freeze/unfreeze cards, spending limits, merchant controls - Push Notifications: Real-time transaction alerts - Mobile Cheque Deposit: Remote deposit capture for Canadian cheques - Bilingual Support: Full English and French language support

Regulatory Compliance: - OSFI Compliance: For federal banks or federally regulated trust companies - Provincial Trust Licenses: For provincially licensed trust companies - CDIC Insurance: Deposit insurance for eligible accounts - FCAC Requirements: Financial Consumer Agency of Canada consumer protection - PIPEDA Privacy: Robust privacy protection for customer data

Technology Stack: - Core Banking: Temenos, Mambu, Thought Machine, or custom core - Canadian Payment Rails: Interac, ACSS, RTR, LVTS integration - Cloud Infrastructure: AWS Canada, Azure Canada, GCP Montreal - Security: PCI DSS, encryption, fraud prevention, secure APIs

Payment Processing and Solutions

Payment Gateway Development Building payment infrastructure for Canadian merchants:

Merchant Acquiring: - Card Processing: Visa, Mastercard, Amex, Discover/Diners - Canadian Acquirers: Moneris, Chase Canada, Global Payments, Elavon - Interchange Optimization: Optimizing interchange rates for merchants - Surcharging: Compliant credit card surcharging implementation - Currency: Multi-currency with CAD as primary

Alternative Payment Methods: - Interac Debit: Online debit via Interac Online - Interac e-Transfer: Payment via email for low-value transactions - Digital Wallets: Apple Pay, Google Pay, Samsung Pay integration - Buy Now, Pay Later: Affirm, Sezzle, PayBright integration for installments - Cryptocurrency: Bitcoin, Ethereum payment acceptance (with FINTRAC compliance)

Payment Features: - Tokenization: Secure token storage for card-on-file - 3D Secure 2: Strong customer authentication (SCA) - Fraud Screening: Real-time fraud detection and prevention - Recurring Billing: Subscription and recurring payment management - Split Payments: Marketplace and platform payment splitting - Multi-Currency: DCC (Dynamic Currency Conversion) for international cards

Regulatory Compliance: - PCI DSS: Payment Card Industry compliance (L1 if high volume) - FINTRAC: MSB registration for payment services - PIPEDA: Privacy compliance for payment data - Provincial Laws: Quebec consumer protection, other provincial requirements

Lending and Credit Platforms

Digital Lending Solutions Modern lending platforms for Canadian borrowers:

Consumer Lending: - Personal Loans: Unsecured personal lending up to $50K - Lines of Credit: Revolving credit facilities - Auto Loans: Direct and indirect auto financing - Mortgages: Residential mortgage lending and brokering - Home Equity: HELOCs and second mortgages - Payday Alternatives: Ethical alternatives to payday lending (provincial regulations)

Business Lending: - Business Loans: Working capital, equipment, expansion loans - Invoice Financing: Receivables financing, factoring - Merchant Cash Advances: Revenue-based financing for merchants - Commercial Mortgages: Real estate financing for businesses - Equipment Leasing: Asset-based lending and leasing

Platform Features: - Automated Underwriting: ML-based credit decisioning - Credit Bureau Integration: Equifax, TransUnion Canadian data - Bank Account Verification: Using Flinks, Plaid for bank data - Document Processing: AI-powered document extraction and verification - Loan Servicing: Automated payment processing, collections, reporting - Marketplace Model: Connecting borrowers with institutional lenders

Regulatory Compliance: - Provincial Lending Licenses: Lending licenses in provinces of operation - Interest Rate Caps: Criminal Code section 347 (60% APR limit) - Cost of Borrowing: Disclosure requirements under provincial consumer protection - Privacy: PIPEDA compliance, consent for credit bureau checks - Collections: Provincial collection laws, respectful collections practices

Wealth Management and Robo-Advisors

Digital Investment Platforms Robo-advisors and investment apps for Canadians:

Investment Features: - Automated Portfolios: ETF portfolios based on risk tolerance - Tax Optimization: Tax-loss harvesting, RRSP/TFSA optimization - Goal-Based Investing: Retirement, education (RESP), home purchase goals - SRI/ESG Options: Socially responsible and ESG investment options - Fractional Shares: Investing with low minimums - Automatic Rebalancing: Maintaining target asset allocation

Account Types: - TFSA: Tax-Free Savings Accounts (Canadian tax-sheltered) - RRSP: Registered Retirement Savings Plans (tax-deferred) - RESP: Registered Education Savings Plans (education savings) - FHSA: First Home Savings Accounts (new 2023 account type) - Non-Registered: Taxable investment accounts - RRIF: Registered Retirement Income Funds (retiree withdrawals)

Regulatory Compliance: - Portfolio Manager Registration: Registration with provincial securities regulators - CRM2 Reporting: Client Relationship Model performance reporting - KYC and Suitability: Know your client and suitability assessments - MFDA/IIROC: Membership if offering mutual funds or broader products - Prospectus: Relying on prospectus exemptions or mutual fund prospectuses

Technology Stack: - Portfolio Management: BlackRock Aladdin, Addepar, or custom - Trading: Canadian broker integration (CIBC, RBC, TD, Interactive Brokers) - Market Data: Real-time and delayed quotes from TSX, NYSE, NASDAQ - Tax Optimization: Custom tax-loss harvesting algorithms - Reporting: Performance reporting, tax documents (T3, T5)

Cryptocurrency and Blockchain Fintech

Crypto Trading Platforms Compliant crypto exchanges for Canadians:

Exchange Features: - Spot Trading: BTC, ETH, and altcoin trading against CAD - Order Types: Market, limit, stop-loss orders - Funding: Interac e-Transfer, wire transfer, credit/debit cards - Custody: Hot wallet (trading), cold wallet (majority of assets) - Security: 2FA, withdrawal whitelisting, insurance on hot wallet - Staking: Earn yield on proof-of-stake assets

Regulatory Compliance: - Securities Registration: Registration with provincial securities regulators (OSC, AMF, BCSC) - Crypto Trading Platform (CTP): Meeting CTP registration requirements - Custody Requirements: Cold storage, insurance, segregation of client assets - FINTRAC MSB: Money services business registration for crypto - AML/ATF: Transaction monitoring, STR filing, sanctions screening - Securities Determination: Assessing which tokens are securities

DeFi and Crypto Products: - Crypto Savings: Interest-bearing accounts for Bitcoin, Ethereum, stablecoins - Crypto Lending: Collateralized loans against crypto holdings - Staking Services: Staking-as-a-service for PoS cryptocurrencies - NFT Marketplace: Platform for Canadian NFT creators and collectors - Tokenization: Tokenizing Canadian assets (real estate, securities, commodities)

Fintech Development Across Canadian Cities

Toronto Fintech Development

Canada's Financial Capital Toronto (Bay Street) is Canada's fintech epicenter:

Banking and Payments: - Digital banks and challenger banks (Neo Financial, Koho, Mogo) - Payment gateways and processors serving Canadian merchants - Cross-border payment solutions (Canada-US, international remittance) - B2B payments and invoice financing platforms - Corporate cards and expense management (Jeeves, Payhawk)

Lending and Credit: - Online lenders and marketplace lending platforms - SME lending (Thinking Capital, Lendified, Onyx) - Invoice factoring and receivables financing - Mortgage fintech (nesto, Perch, Better.com Canada) - Credit building and alternative credit (Borrowell, Refresh Financial)

Wealth and Investing: - Robo-advisors (Wealthsimple, Questrade, BMO SmartFolio) - Investment apps and fractional shares - Financial planning and aggregation tools - Tax optimization software for Canadians - Crypto investing platforms (Wealthsimple Crypto, Newton)

Institutional Fintech: - Capital markets technology for Bay Street - RegTech for banks and financial institutions - Trading technology and algorithmic trading - Risk management and compliance software

Montreal Fintech Development

Bilingual Fintech and Innovation Montreal's fintech scene serves bilingual markets:

Payments and Remittance: - International remittance for Quebec's diverse immigrant population - Bilingual payment solutions (English/French) - Quebec-focused payment innovations - Cryptocurrency exchanges serving francophone market

InsurTech: - Digital insurance platforms for Quebec market - AMF-compliant insurance technology - Telematics and usage-based insurance - Claims automation and fraud detection

Lending: - Quebec consumer lending (respecting Quebec consumer protection laws) - Quebec SME financing - Mortgage lending for Quebec market - French-language lending interfaces

AI in Fintech: - Leveraging Montreal's AI expertise (Mila) for fintech AI - Fraud detection and AML using machine learning - Credit scoring using alternative data - Chatbots and customer service AI (bilingual)

Vancouver Fintech Development

West Coast Innovation Vancouver's growing fintech ecosystem:

Crypto and Blockchain: - Cryptocurrency exchanges (NDAX - National Digital Asset Exchange) - Blockchain remittance and cross-border payments - NFT marketplaces and crypto wallets - DeFi protocols and applications - Mining and staking operations (cheap BC hydro power)

International Payments: - Asia-Pacific remittance (large Asian diaspora in Vancouver) - Cross-border e-commerce payments - Foreign exchange and currency hedging - Trade finance for BC exporters

Cleantech Fintech: - Carbon credit trading platforms - Green financing and sustainability-linked loans - ESG investment platforms - Renewable energy project financing

PropTech: - Real estate investment platforms (tokenization, fractional ownership) - Mortgage fintech for Vancouver's hot real estate market - Rent payment and property management fintech

Fintech in Other Canadian Cities

Calgary and Alberta: - Energy Fintech: Commodity trading platforms, hedging, energy project finance - Banking: ATB Financial innovation, digital banking for Albertans - Wealth: Investment platforms for oil & gas professionals - Crypto: Bitcoin mining fintech, energy-backed tokens

Ottawa: - Government Fintech: Payment solutions for government services - Defense Fintech: Secure payments and financial systems for defense - RegTech: Compliance technology for financial regulators - Cybersecurity: Financial cybersecurity solutions

Waterloo Region: - University Spinouts: Fintech startups from University of Waterloo - Payments: Payment technology development - InsurTech: Insurance technology platforms - Banking Tech: Technology for Canadian banks

Halifax: - Maritime Fintech: Financial services for East Coast industries - Payments: Atlantic Canada payment solutions - Credit Unions: Technology for Atlantic credit unions

Fintech Technology Stack

Core Banking and Ledger Systems

Core Banking Platforms - Temenos Transact: Enterprise core banking (used by many Canadian banks) - Mambu: Cloud-native SaaS core banking - Thought Machine Vault: Modern core banking platform - Finastra: Fusion core banking and lending - Custom Core: Built on PostgreSQL, event sourcing, CQRS

Ledger and Accounting - Double-Entry Accounting: Robust general ledger systems - Multi-Currency: Supporting CAD, USD, and international currencies - Real-Time Balances: Up-to-the-second account balances - Audit Trails: Comprehensive logging for regulatory compliance - Reconciliation: Automated reconciliation with payment networks

Payment Integration

Canadian Payment Networks - Interac: Interac Debit, e-Transfer, Online APIs - Payments Canada: ACSS, LVTS (soon Lynx), RTR integration - Card Networks: Visa, Mastercard, Amex direct or via processors - Processors: Moneris, Chase Canada, Global Payments APIs

International Payments - SWIFT: Cross-border wire transfers - Wise API: Multi-currency accounts and transfers - Stripe: International payment processing - Ripple: Blockchain-based cross-border payments

Payment Rails - ACH/EFT: Direct deposit, pre-authorized debit via ACSS - Wire Transfer: Domestic and international wires - Instant Payments: Interac e-Transfer, upcoming RTR - Cards: Credit card processing via gateways

Regulatory and Compliance Technology

AML/ATF Technology - Transaction Monitoring: Actimize, SAS AML, custom ML models - Sanctions Screening: Dow Jones, World-Check, OFAC screening - KYC/Onboarding: Trulioo, Jumio, Onfido for identity verification - Case Management: AML investigation and STR filing workflows - Reporting: FINTRAC reporting automation

Credit and Risk - Credit Bureaus: Equifax Canada, TransUnion Canada APIs - Bank Verification: Flinks, Plaid for open banking-style data - Fraud Detection: Kount, Sift, Riskified, custom ML models - Credit Scoring: Custom ML models, alternative data scoring - Collections: Compliant collections automation

Regulatory Reporting - OSFI Reporting: Automated regulatory return generation - Tax Reporting: T3, T5, NR4 tax slips for CRA - Securities Reporting: Trade reporting, position reporting for regulators - CDIC Reporting: Deposit insurance reporting - Provincial Reporting: Province-specific regulatory filing

Infrastructure and Security

Cloud Infrastructure - AWS Canada (Montreal): Canadian data residency on AWS - Azure Canada (Toronto/Quebec): Microsoft cloud in Canada - Google Cloud (Montreal): GCP Canadian region - Multi-Region: DR across Canadian regions - Hybrid: Combination of cloud and on-premises for compliance

Security and Compliance - PCI DSS: Payment card security compliance - Encryption: TLS in transit, AES-256 at rest - HSMs: Hardware security modules for key management - MFA: Multi-factor authentication (SMS, TOTP, biometric) - Penetration Testing: Regular security assessments - SOC 2: Service organization controls certification

Data and Analytics - Data Warehouse: Snowflake, Redshift, BigQuery in Canadian regions - Real-Time Streaming: Kafka, Kinesis for event processing - Machine Learning: SageMaker, Azure ML for credit, fraud, recommendations - Business Intelligence: Tableau, Power BI, Looker for analytics

Regulatory Landscape

Federal Financial Regulators

OSFI (Office of the Superintendent of Financial Institutions): Regulates banks, trust companies, loan companies, insurance companies, pension plans

FINTRAC (Financial Transactions and Reports Analysis Centre): AML/ATF compliance, MSB registration, transaction reporting

Bank of Canada: Monetary policy, payments oversight, CBDC research

FCAC (Financial Consumer Agency of Canada): Consumer protection, financial literacy

CDIC (Canada Deposit Insurance Corporation): Deposit insurance for banks and trust companies

Provincial Securities Regulators

CSA (Canadian Securities Administrators): Umbrella organization coordinating provincial regulators

OSC (Ontario Securities Commission): Canada's largest securities regulator (Ontario)

AMF (Autorité des marchés financiers): Quebec securities and insurance regulator

BCSC (British Columbia Securities Commission): BC securities regulator, progressive on fintech

ASC, MSC, NSSC, etc.: Alberta, Manitoba, Nova Scotia, and other provincial regulators

Emerging Regulation

Open Banking: Federal advisory committee recommendations, gradual implementation expected

CBDC (Central Bank Digital Currency): Bank of Canada research on digital Canadian dollar

Crypto Regulation: Evolving CSA framework for crypto trading platforms

Consumer Protection: Enhanced consumer protection measures for fintech

AI in Finance: Regulatory guidance on AI/ML in financial services

Success Stories: Canadian Fintech Projects

Digital Bank for Millennials and Gen Z

Challenge: Launch a digital-first bank for young Canadians (18-35) offering no-fee banking, high-interest savings, and modern money management tools, requiring federal bank charter and OSFI approval.

Solution: Full-stack digital banking platform:

• Obtained federal bank charter (Schedule I bank)
• Built modern core banking system on Mambu
• Integrated Interac Debit, e-Transfer, ACSS for payments
• Developed iOS/Android apps with biometric login
• Implemented AI-powered spending insights and budgeting
• Real-time transaction notifications and controls
• Bilingual support (English/French) throughout
• Hosted on AWS Canada Central for data sovereignty
• CDIC deposit insurance for customer accounts

Results: - 500,000+ customers in first 18 months - 4.8-star rating in App Store and Google Play - CAD $2.3B in deposits by year 2 - 78% customer recommendation rate (NPS) - Zero security breaches or data incidents - Successful OSFI examinations - Expanded to investment accounts (robo-advisor) in year 3

Cryptocurrency Exchange Platform

Challenge: Build OSC and AMF-compliant cryptocurrency exchange for Canadian investors to buy, sell, and hold Bitcoin, Ethereum, and altcoins with CAD deposits and withdrawals.

Solution: Fully regulated crypto trading platform:

• Registered as Crypto Trading Platform with OSC, AMF, BCSC
• Implemented robust custody (95% cold storage, 5% hot wallet)
• Integrated Interac e-Transfer for CAD deposits
• FINTRAC MSB registration and AML/ATF compliance
• Transaction monitoring using Chainalysis
• Insurance on hot wallet (crime, theft coverage)
• KYC using Trulioo for identity verification
• Sanctions screening against OFAC, UN, OSFI lists
• Real-time trading engine with CAD pairs
• Bilingual platform (English/French)

Results: - Successfully obtained CTP registration in 3 provinces - 180,000+ registered users - CAD $850M in trading volume year one - Zero security incidents, no customer fund losses - Successful regulatory examinations by OSC, AMF - Expanded to crypto staking and interest accounts - 4.5-star rating from Canadian crypto investors

SME Lending Marketplace Platform

Challenge: Create online lending marketplace connecting small business borrowers with institutional lenders, providing fast funding (24-48 hours) for working capital needs up to $500K, requiring provincial lending licenses and securities compliance.

Solution: End-to-end lending marketplace:

• Obtained lending licenses in 10 provinces
• Built automated underwriting using ML (bank data, credit bureau, alternative data)
• Integrated Flinks for bank account verification and cashflow analysis
• Real-time credit decisioning (approval in minutes)
• Marketplace connecting borrowers with 15+ institutional lenders
• Loan servicing platform with automated ACH payments
• Bilingual application process and customer portal
• PIPEDA-compliant data handling
• Equifax and TransUnion integration for credit checks

Results: - CAD $250M in loans funded in first 24 months - 5,800+ small businesses funded - 87% customer satisfaction rating - 4.2% default rate (below industry average) - Average approval time: 8 minutes (vs. weeks for banks) - Funding within 24 hours for approved applications - Expanded to invoice financing and equipment leasing