Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
AI | Oct 2, 2023
Image: Unsplash/Oscar Sutton
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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AI | Oct 2, 2023
Image: Unsplash/Mojahid Mottakin
On September 27, Minister Champagne announced Canada's Voluntary Code of Conduct on the Responsible Development and Management of Advanced Generative AI Systems, effective immediately. The new code of conduct revolves around several key principles around transparency, bias, oversight and detectability.
Minister Champagne emphasized the urgency of implementing measures to foster trust in AI products.
I think that if you ask people in the street, they want us to take action now to make sure that we have specific measures that companies can take now to build trust in their AI products.
While there's been significant support from major players in the business sector, concerns have also been raised. Some fear that the code, even in its voluntary form, could stifle innovation and hamper Canadian companies' ability to compete on a global scale. For instance, Tobi Lütke, CEO of Shopify, expressed his reservations about the code, emphasizing the need for more builders rather than referees in Canada.
The voluntary nature of the code has led to diverse opinions. While some view it as a precursor to more stringent regulations, others see it as a flexible framework that can adapt to the rapidly evolving AI landscape. As Canada continues to navigate the complexities of AI development and its implications, it remains to be seen how this code will shape the nation's AI future.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Funding | Sep 29, 2023
Image: Unsplash/Fabian Blank
Darcy Tuer, Co-Founder and CEO of ZayZoon
This financing will fuel our mission in being a true partner in financial health and workplace engagement to small and midsize businesses. Not only does ZayZoon act as a substantial competitive advantage for the business, but it helps the millions of Americans living paycheck to paycheck get by between paydays and plan for the future.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Capital | Sep 29, 2023
Image: Capital Compass BC
British Columbia (B.C.) is a hub of innovation, with entrepreneurs and companies propelling it as a leading innovation center in North America. Capital Compass BC is not just a boon for businesses but also for investors, innovators, and ecosystem enablers. It's publicly accessible, free-to-use, and allows individuals to submit relevant information, making it searchable within the platform.
Key Features of Capital Compass BC:
Brenda Bailey, the Minister of Jobs, Economic Development, and Innovation, expressed her enthusiasm about the platform, emphasizing its role as a one-stop site for accessing funding-related resources in BC. She believes that this publicly accessible platform, developed collaboratively by multiple stakeholders, will be instrumental in connecting BC businesses and investors, paving the way for more developmental opportunities and growth.
For those eager to delve deeper into what Capital Compass BC has to offer, the platform is accessible at www.capitalcompass.ca.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Sep 29, 2023
Gambling for real money is not complete without a reliable payment system. This is a guarantee that fraudsters won’t get your cash. And it will not magically disappear. Therefore, the transfer method choice is on par with the search for a casino.
Security comes first, so let's take a look at how the system creators provide it. First of all, we'd like to point out that only your bank can see the personal data required to receive the code. The online casino does not see them. In addition, PayID uses SSL protection.
We highlight such pros:
Communication. PayID transfers allow short descriptions of up to 280 characters. You can specify the purpose of the payment, your name, or whatever you want.
Image: Unsplash
We also have found a few drawbacks for a balance:
Contact your bank or, if you don't have an account yet, register for one. PayID now works with 100+ institutions, including the most common banks. Go to the system’s official website and find yours to ensure you can connect. Now to the next steps:
Choose the payment system you need, and enter a unique code with the transfer amount. It's that simple.
Deposits are only possible after verification. This is if you choose a licensed casino, which we hope you do. The procedure helps to eliminate scammers and minors from the platform. It also helps to check if someone wants to create two accounts for one person. In short, it protects both operators and gamblers.
Image: Unsplash
Verification takes up to 2 days on average and requires:
Now, you have access to the Cashier section to manage your game account. You will find PayID, among other methods, and you’ll be able to deposit. This gives you access to real money bets with a chance to win.
The gaming experience directly depends on the convenience of the payment system. No one wants to start a game nervously because the deposit took a long time or did not come at all. The Australian PayID casinos are reliable, fast, and generally optimal for transfers. If your bank supports the system, get your code and use it.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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BoC | Sep 28, 2023
Image: WikiCommons Media/Bank of Canada
The Bank is keen on understanding the current practices of payment service providers (PSPs) and aims to develop an effective strategy for transaction reporting. This initiative is not limited to RPAC members alone; the Bank is actively seeking diverse opinions from the entire PSP industry.
By sharing your feedback, you will help the Bank gain insights into the current practices of PSPs and also contribute to the development of a robust transaction reporting approach.
The Bank has launched a survey to better understand the information needs of PSPs. This will aid PSPs in understanding the Bank's expectations and preparing for upcoming retail payment supervision. The results of this survey will shape the Bank's communication strategy, ensuring PSPs are well-informed and ready to comply with forthcoming legislation. The survey is entirely voluntary, and the Bank guarantees that no personally identifiable information will be collected or shared. You can complete the survey here.
The Bank is gearing up for the enforcement of the registration requirement under the Retail Payment Activities Act, expected in the latter half of 2024. To ensure a smooth and efficient registration process, the Bank is launching a pilot program. They are seeking volunteers, both individuals and entities subject to the Act, to test the registration process. Information about this pilot will be shared by December 2023, with the pilot tentatively set to commence in April 2024. Interested parties can sign up using the online form.
NCFA Canada encourages all its members and stakeholders to actively participate in this feedback process. Your expertise and insights will play a crucial role in shaping the future of transaction reporting in Canada. Let's collaborate and ensure that the industry's voice is heard.
For those wishing to share their feedback directly with the Bank of Canada, you can email your thoughts here by October 16, 2023.
Thank you for your continued commitment to advancing the fintech and alternative finance sectors in Canada.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Support NCFA by Following us on Twitter!Follow @NCFACanada ![]() |