Karsten Wenzlaff, Advisor
August 26th, 2025
AltFi | Aisling Finn | Jan 20, 2021
The new partnership will cover payment protection, refund protection and ticket cancellation.
Insurance giant Chubb has teamed up with digital banking provider Revolut to offer a broader range of insurance to Revolut’s customers.
Chubb will offer Revolut customers insurance products like purchase protection, refund protection and ticket cancellation when a Revolut card is used.
The new policy also covers when a customer has a confirmed Covid-19 diagnosis and can’t use event tickets purchased using their Revolut account.
Felix Jamestin, head of Premium Product at Revolut, said: "We're always looking to provide the best value possible to our customers and help them get more from their money.”
“We're constantly improving our paid plans and are delighted to partner with Chubb to add purchase protection, refund protection and ticket cancellation for our customers."
The newest insurance addition is just the latest to be added to Revolut’s ‘super app’ as it bundles in feature after feature to make its service ever-more valuable to customers.
Chubb and Revolut will roll the new insurance out across 22 different countries—Revolut operates in 37 different countries and it is not yet clear which lucky countries have made the list.
Goulven Thépot, regional head of Underwriting, Accident and Health in Continental Europe, added:
"Our new partnership with Revolut marks a significant step for Chubb as we continue to drive relationships in the digital space.”
“We are looking forward to working with the Revolut team to deliver valuable insurance solutions to their customers."
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, 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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Hardbacon | Julien Brault | Jan 15, 2021
In my time as a business reporter, I was at the forefront during the decline of the country's 2000s tech giant, BlackBerry.
BlackBerry launched its mobile app store in 2009, a year after Apple launched the App Store.
Everyone knows the rest of the story.
While BlackBerry executives praised themselves for having better sound quality and a more efficient keyboard, what people wanted when they bought a smartphone were apps.
Today, the Canadian banks are making the same mistake by refusing to put control of financial data back into the hands of their users, as the European banks are already doing.
In fact, since September 14, 2019, European open banking regulations (PSD2) force banks to allow their customers to share their data with third parties according to a standardized protocol. In other words, their customers can choose to share their bank information with an online loan app or even with a budgeting app.
In Canada, the federal government created the Advisory Committee on Open Banking in 2018, which delivered its first report in 2020, which was very favorable to open banking. The report listed the many benefits of such an approach, including increased data security and accelerated innovation in the financial services industry.
The committee then conducted public consultations, the results of which have not yet been released at the time of this writing. Meanwhile, Canadian banks are patiently waiting for a possible regulatory framework before taking action.
This slowness is all the more deplorable as the Canadian banks won’t be the only victims of this delay.
The collateral victims are Canadian financial technology companies like Hardbacon, which must operate in more difficult conditions than their American and European counterparts.
Consumers are also victims, since they can’t benefit from all the innovations they are entitled to expect, have less choice, and have to choose financial products in a scarcely transparent market.
Open banking shouldn't be a political issue. The game of competition should ultimately force the hands of reluctant financial institutions to allow their customers to use their financial data as they see fit. This is happening in the United States, where, despite the fact that there is no regulation forcing financial institutions to allow their customers to share their data with third parties, a growing number of players are doing so. This is notably the case with BBVA, ETrade, and TD Ameritrade.
As there is little competition in Canada, this change could unfortunately take a long time to materialize.
However, in recent months, Canadian banks have proven that they can be nimble by allowing electronic document signatures and enabling their customers to open accounts online.
Rather than wait to lose their market share to neo-banks like Revolut, which is already in Canada, Canadian banks have every interest in being proactive and embracing open banking.
The first step would of course be to create and implement a technological protocol allowing their customers to share their data with fintechs like Hardbacon or competing institutions.
But they shouldn't stop there. Canadian banks should also launch their own app stores, which would enable them to offer all kinds of services through their banking portals.
Of course, I would be eager to see Hardbacon become one of the first applications offered through a Canadian banking portal.
Despite the lack of standardized protocols, Hardbacon already manages to offer an application that helps you budget by using your banking information, track your portfolio with its brokerage data, as well as compare credit cards, online brokers, and other financial products. Imagine what Hardbacon could do if it could integrate directly with the financial institutions...
In conclusion, open banking should not be limited to banks. In Europe, PSD2 does not apply to investment account data or data related to insurance policies. However, this data is more complex than bank data, which makes their digital transmission even more significant.
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, 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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Fintech Confidential | Michael King and Richard Nesbitt | Jan 21, 2021

In our recently published book The Technological Revolution in Financial Services: How Banks, Fintechs, and Customers Win Together, a group of expert contributors from North America and Europe share their insights on how the financial services industry will evolve in the coming decade. The context is the ongoing transformation in the financial services industry, which is being driven by three structural forces: heightened regulation that followed the 2008-2009 Global Financial Crisis (GFC), innovation fueled by new technologies and entrepreneurial fintech startups, and demographic trends with the rise of millennials and the retirement of baby boomers.
These forces are changing the competitive landscape of financial services, lowering barriers to entry and increasing competition from both inside and outside the industry. Our book outlines what we see as the successful strategies for financial technology (fintech) companies and incumbents, namely banks, insurance companies, and asset managers.
While there is much to learn from our contributors, this article shares our main conclusion and a few key takeaways.
We argue that the winning strategy for the coming decade will be for banks, insurance companies and asset managers to partner with fintech startups to deliver a superior experience to end-customers.
The media has portrayed fintechs and financial incumbents as rivals. But the real threat over the coming is coming from outside the financial services industry – from large technology companies such as the Chinese techfins (Alibaba and Tencent) and North American bigtech companies (Amazon, Apple, Facebook, Google, and Shopify). These global players have platform ecosystems with large and loyal customer bases, massive datasets on customer behavior, and well-known brands. Techfins and bigtech are bundling financial services with non-financial products to provide end-customers with the delightful, easy, convenient and lower cost experiences they desire.
Faced with these new entrants, we argue that incumbents need to partner with fintechs, combining their respective strengths to provide a better customer experience.
So, the technological revolution highlighted in the title does not refer simply to the emergence of new technologies or the disruption from new entrants. It refers to a paradigm shift in financial services that refocuses on the end-customer, their experience and their lifetime journey.
Briefly, here are three more takeaways:
Technology is not a strategy, it is a tool for the execution of strategy.
Strategy is the answer to three questions: where is the organization today, where does it want to go in the future, and how will it get there. Technology can provide better tools for pursuing this strategy, but technological innovation is not the end goal of strategy itself. Technology does provide a sustainable competitive advantage; it is widely available and can be copied by competitors who are fast-followers. The biggest barrier to entry in banking is not technology or even regulation, but access to customers.
Trust in banking is paramount, supported by data security and privacy.
The loss of trust in incumbents following the GFC opened the door to new entrants including fintechs. But trust in financial services is intertwined with cybersecurity and data privacy. Cybersecurity has clearly become the biggest operational risk. The approach must be a shift in mindset from “if we are hacked” to “when we are hacked”. Finding it fast, disclosing it and dealing with it immediately, and minimizing the impact on customers will be critical. Data privacy is a second critical issue. Consumers and privacy advocates are acutely aware of the mixed incentives created by the advertising- based business models of Facebook and Google. This is one area where technology (such as blockchain) and new services (such as digital identity) can promote trust, by protecting customer data, privacy, and identity.
Open banking sits at the nexus of these concerns. We argue that the adoption of open banking -- in Canada and globally – will increase data security by putting in place a secure system for the transmission of data using application programming interfaces (APIs).
Regulation and risk management remain pillars of financial services.
Regulation is not going away, nor should we want it to. Leading financial players – whether fintechs or incumbents – support higher regulatory requirements to weed out bad actors. We argue that maintaining a level playing field and avoiding regulatory arbitrage are important. Effective risk management will continue to be a driver of success in financial services. Incumbents possess this expertise. Fintechs and other new entrants will inevitably need to invest in risk management and compliance to be successful.
Authored by:
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, 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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KABN | Cara Buckspan | Jan 19, 2021
Access to up to 2,000 US Colleges and Universities with reach of up to 1.5 Million Students TORONTO, ON / ACCESSWIRE / January 19, 2021 / KABN Systems NA Holdings Corp. (CSE:KABN)(OTC PINK:TRWRF)(FRA:4T51) (the "Company", "KABN North America" or "KABN NA"), a North American Fintech solutions company specializing in empowering individuals to manage, control and generate value from their biometrically-verified Self Sovereign Identity ("SSI") through its Liquid Avatar platform, announces today that it has entered into an agreement to partner with US based, The Campus Agency to create innovative engagement programs for Liquid Avatar to reach the US college and university student, alumni and family market.
KABN NA and The Campus Agency will be working together to engage micro-influencers, develop and launch innovative engagement and Augmented Reality programs to introduce the college and university market to the Liquid Avatar and KABN value programs. The partnership goals are to increase brand awareness, maximize engagement, educate users on the value proposition of Self Sovereign Identity, and generate user benefits and revenue for the partnership program.
With reach to over 2,000 US College and University campuses and over 1.5 Million Gen Z students, alumni and families, The Campus Agency has been supporting innovative direct to student and online marketing programs for over 40 years.
"We're excited to bring our 40 years of creating success on campus and digital initiatives to Liquid Avatar and to bring this important and innovative program to our collegiate communities, allowing users to manage and control their digital identity and future credentials safely and securely," said Chris Nyland, Chief Operating Officer, The Campus Agency. "This is our second program with KABN North America and Liquid Avatar, as we're already jointly a part of the COVID-19 consortium for creating Verifiable Identity Healthcare Credential."
KABN North America's mission is to empower users to manage, control and financially benefit from their biometrically verified Self Sovereign Identity. Launching in the coming weeks, KABN NA's Liquid Avatar platform allows users to create high quality digital icons of themselves, representing various facets of their personality that allows them to share what they want, when they want, and with whom they want, as easily as sharing an image. Liquid Avatar users will also be able to create digital wallets to manage and store a wide range of verifiable identity and access credentials, providing users with the tools and services to take their conventional identity online, and prove themselves as easily and effectively as they do in the "real world".
"The collegiate market and Gen Z cohort are primary opportunities for Liquid Avatar and KABN" said David Lucatch, CEO KABN. "These groups are major influencers to their friends and families, and we believe that we can offer users a wealth of value and increase their ability to manage their Self Sovereign Identity through our tools and services. The Campus Agency is the perfect organization to complement our efforts and to partner with."
KABN KASH, in combination with its KABN Visa Card (currently available in Canada with expansion opportunities for the US currently being explored), provides access to over 300 brand-named merchants that will reward users with cash back on their online purchases.
If you would like to join our mailing list and receive updates on KABN Systems NA Holdings Corp., please click here
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, 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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Neo Financial and Concentra | Jan 13, 2021
CALGARY, Alberta--(BUSINESS WIRE)--Neo Financial (Neo), a Calgary-based fintech company created by two of the co-founders of SkipTheDishes, has announced a first-of-its-kind collaboration with Concentra Bank (Concentra), a Schedule 1 bank that is quietly fuelling innovation. Through this relationship, Neo is the first Canadian fintech company to offer a CDIC-eligible high-interest savings account that works like an everyday banking account. The accounts are held at Concentra, a Canada Deposit Insurance Corporation (CDIC) member bank. Together, Neo and Concentra have opened the door for innovation that has historically not been accessible within Canada’s consumer banking sector.
“Canada’s banking sector continues to trail other countries, using technology that is more than 50 years old, and unable to innovate. This is why we set out to rebuild it from scratch. We wanted to create a seamless consumer-first experience, specifically for Canadians,” says Andrew Chau, Founder and CEO, Neo Financial. “Our collaboration with Concentra Bank is a great example of how new technology companies can work with industry partners to innovate better and faster to ensure Canada doesn’t fall behind.”
“We’re different from many banks—we’re open to creative ideas and solutions for our customers and we’re less rigid in our approach to innovation, while managing regulatory requirements,” says Don Coulter, President & CEO of Concentra Bank. “Collaboration with fintechs is central to our strategy. We have a strong history of working with fintechs and will continue to do so. We’re proud to work with Neo Financial to bring this great new savings product to Canadians.”
Neo’s proprietary technology has been designed to simplify finances and create rewarding experiences for Canadians. Neo Savings is a high-interest savings account that can be opened in minutes from your phone, and presently earns up to 30 times more* than other traditional Canadian banks.
“Our team is dedicated to creating a cultural shift in how Canadians bank. This means not only modernizing the current consumer experience, but rethinking the institution as a whole. Through collaboration with organizations like Concentra Bank, I believe the future of Canadian banking will be accessible, empowering and innovative in ways we haven’t thought possible. I hope Canadians are as excited as we are to create this change and build something substantial here in Canada,” says Andrew.
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, 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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FCA | Jan 14, 2021

This performance scorecard highlights some of the information available on personal current accounts (PCAs), and can help customers choose their provider by highlighting:
These metrics should also increase the incentive for firms to offer better service, helping customers to get the most out of their personal current accounts.
Detailed below are 3 sources of data consumers can use to compare personal current account providers. These metrics only relate to service and not to the quality or price of products.
These independent league tables show customers how the 19 largest personal current account providers rank on quality of service and online and mobile banking services, making it easier to compare providers. This is information required by the Competition and Markets Authority (CMA).
Quality of service is determined by how likely customers would be to recommend their provider to friends and family. Online and mobile banking services is determined by how likely customers would be to recommend their provider’s online and mobile banking services to friends and family
In August 2020, the survey showed Monzo (86% score) as the top ranked bank for overall service quality, and Tesco Bank as lowest ranked (44%). Chart 1 shows the results from all 19 banks.

For online and mobile banking services, the survey showed Monzo (89% score) as the top ranked bank and Tesco Bank as lowest ranked (59%). Chart 2 shows the results from all 19 banks.
As well as overall service quality and online and mobile banking services, this survey also covers:
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, 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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