Category Archives: Personal Finance

AI Concierge Tech and the Future of Finance

AI Innovation | April 4, 2025

Unsplash Solen Feyissa, AI assistants

Image: Unsplash/Solen Feyissa

Amazon’s 'Buy for Me' Innovation Extends What Digital Assistants Can Do, and Finance May Be Next

On April 3 2025, Amazon quietly rolled out a new artificial intelligence (AI) feature called 'Buy for Me'.  That is if a user finds an item that they want on another retailer's site, Amazon's agentic AI on its app will complete the purchase on the user's behalf, handling all the details such as checkout, payment, and even delivery tracking.

Buy for Me is currently available on both iOS and Android for a limited number of U.S. customers.  Amazon plans to test with a limited number of brand stores and products and then intends to roll the offering out to more customers and incorporate more third party brand stores and products based on iterative feedback.

See:  How PhD-Level AI Agents Will Change Financial Services

This isn't just about shopping convenience.  It's Amazon extending it's AI concierge systems beyond its own moat and walls and into the open web.  It acts as a secure authorized buying agent for users and goes beyond giving suggestions and 'gets things done'.  This is where things can get interesting for financial services.

What If Finance Worked the Same Way?

Imagine an AI concierge that doesn’t just show you your bank balances, but it can move money between your accounts, negotiate better rates, or automatically file your taxes when it’s time on your behalf.

You wouldn't have to log into five different apps to manage investments, savings, loans, and bills because you could simply as your AI assistant 'Finance for Me'.

“Can you move $500 from savings into my RRSP and check if there’s a better mortgage rate than I’m getting now?”

And it would.

Smart financial AI is proactive and not meant to be a dashboard with traffic lighting that shows you how much you spent at restaurants last month.  It would be designed to be your go to problem solver on all things finance, securely and in real-time able to iterate and execute tasks across different fintech companies and institutions on your behalf.

From Shopping Assistant to Financial Concierge

'Finance for Me' could remove the complexities and taboo that's often associated with dealing and managing money.  Here's just a few examples of how such an agentic AI assistant could help you:

  • Better Mortgage Rates - Your AI could check for competitive interest rates across lenders (plus evaluate qualitative perks) and even handle the paperwork on your behalf if you decide to switch.
  • Automatic Tax Planning - As you spend, earn, and invest, the assistant could optimize deductions and pre-populate your tax returns.
  • Smarter Investing - Whether you're building a portfolio or just starting to dip your toes into markets and figure out how best to use your TFSA or RRSP, your 'Finance for Me' assistant could track fees, rebalance your accounts, and move funds for you all in real-time and based on your goals.
  • Family Finances - For couples, families or caregivers, an advanced AI assistant could design and track a shared budget, make regular RESP contributions, and handle short, intermediate and longer term financial planning, according to your goals and risk tolerate.
  • Active Small Business Support - Entrepreneurs could delegate tasks to a business version of 'Finance for Me' that could forecast cash flows, make vendor payments, or remit your GST payments on your behalf.

Yes, all of the above could happen in the near future with full consent, transparent and clear logs, and security safeguards.

See:  FSB’s Warnings of Hidden Stakes of AI in Finance

Open Banking standards would enable connections to be made securely. Regulators and lawmakers would need to create a responsible agentic AI framework and all transactions would have to be compliant and in regulatory alignment...but it's technically possible or getting closer to that reality (on a ridiculous curve of innovation and disruption).

Why It Matters

Canada's financial ecosystem is full of great tools but they remain siloed, reactive (not predictive/proactive), and are often out of reach to those without deeper pockets, knowledge, and time.  A 'Finance for Me' AI dedicated to optimizing finance on your behalf would be a game-changer and truly democratize financial capabilities.  Amazon's 'Buy for Me' innovation is just at the beginning of the 'let me delegate that to my AI assistant curve.  Fintechs, banks, and regulators should be eyes wide open.


NCFA Jan 2018 resizeThe 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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The Pros and Cons of DIY Appliance Repair: What You Need to Know

March 13, 2025

Freepik DIY Repair

Image: Freepik

Home appliances are an integral part of modern life, making everyday tasks more convenient and efficient. However, when an appliance breaks down, homeowners often face a dilemma: should they repair it themselves or call a professional? DIY appliance repair can be an appealing option due to cost savings and a sense of accomplishment, but it also carries risks. In this article, we will explore the pros and cons of DIY appliance repair, helping you make an informed decision.

Pros of DIY Appliance Repair

1. Cost Savings

One of the most significant advantages of DIY appliance repair is the potential to save money. Professional repair services can be costly, especially for simple issues that can be fixed with basic tools and minimal expertise. By handling the repair yourself, you eliminate labor costs and only need to pay for replacement parts.

2. Convenience and Speed

When an appliance breaks down, scheduling a professional repair service can sometimes take days or even weeks. With DIY repair, you can start working on the problem immediately, reducing downtime and restoring functionality faster.

3. Learning and Skill Development

Repairing appliances on your own allows you to develop valuable skills and gain a deeper understanding of how household devices work. This knowledge can be useful for future maintenance and minor repairs, potentially saving you money over time.

4. Sense of Accomplishment

Fixing an appliance yourself can provide a sense of satisfaction and achievement. Successfully troubleshooting and repairing an issue can boost your confidence and encourage you to take on other DIY projects.

5. Availability of Online Resources

Thanks to the internet, DIY appliance repair has become more accessible than ever. Numerous websites, forums, and video tutorials provide step-by-step guidance on diagnosing and fixing common appliance issues. With the right resources, even beginners can attempt repairs with some level of confidence.

Cons of DIY Appliance Repair

1. Risk of Injury

Many appliances operate on electricity, gas, or water systems, making DIY repair potentially dangerous. Electrical shocks, gas leaks, and water damage are real hazards that can cause serious injuries or even fatalities if proper precautions are not taken.

2. Potential for Further Damage

If you lack experience, attempting a DIY repair can sometimes make the problem worse. Misdiagnosing the issue or improperly handling components may lead to more extensive damage, resulting in even higher repair costs or the need for a complete appliance replacement.

3. Voiding Manufacturer Warranty

Most appliances come with a manufacturer’s warranty that covers repairs within a certain timeframe. However, attempting DIY repairs can void this warranty, meaning that any future professional repair costs will come out of your pocket.

4. Lack of Specialized Tools

Many appliance repairs require specialized tools that are not commonly found in household toolkits. While some tools can be purchased, the cost of acquiring them for a single repair may outweigh the savings of doing the repair yourself.

5. Time-Consuming Process

While DIY repairs may seem like a quick solution, they can be time-consuming, especially for those who are inexperienced. Researching the issue, gathering tools, and following repair guides can take hours or even days, which may not be practical for everyone.

When to DIY and When to Call a Professional

Some issues are best handled by experts. If you’re dealing with electrical faults, gas leaks, or major mechanical failures, it’s safer and more efficient to seek professional help.

Solution: Check for obvious issues like a tripped circuit breaker or a loose plug. For complex problems, read more details on this page.

By weighing the pros and cons of DIY appliance repair, you can make the best choice for your situation. While some fixes are simple, others require expert knowledge to ensure safety and efficiency.

DIY Repairs Are Suitable For:

  • Simple fixes such as unclogging a dishwasher filter, replacing a refrigerator gasket, or cleaning a dryer vent.
  • Replacing easily accessible parts like a washing machine belt, oven heating element, or microwave fuse.
  • Tasks that do not involve electrical or gas components and do not require special tools.

Call a Professional If:

  • The repair involves electrical wiring, gas connections, or water leaks.
  • The appliance is still under warranty.
  • You are unsure about the problem or lack the necessary skills and tools.
  • The cost of potential mistakes outweighs the benefits of a DIY fix.

Conclusion

DIY appliance repair has its advantages, such as cost savings, convenience, and skill development. However, it also comes with risks, including personal injury, further damage, and potential warranty voiding. Before attempting a repair, carefully assess the complexity of the issue and your own skill level.

See:  Signs Your Appliance Needs Repair (And How to Avoid Major Issues)

While simple fixes can often be handled independently, more complicated repairs should be left to professionals to ensure safety and efficiency. By making an informed decision, you can balance the benefits of DIY repair with the need for expert assistance when necessary.


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights

Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
AI illustration of a Canadian MSB acquisition due diligence checklist covering FINTRAC registration, RPAA compliance, ownership, financial review and banking relationships
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
AI illustration of Bitcoin and public company symbols representing Strategy’s removal from MSCI indexes and the financing model behind Bitcoin treasury companies
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
AI illustration of stacks of coins beside financial charts illustrating how cryptocurrency prices and circulating supply affect crypto market capitalization
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
AI illustration of AI agents connected across a financial trading network, representing shared market behaviour, trading automation and financial stability risk
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
AI Illustration of large venture capital deals dominating smaller financings, representing concentration in Canada’s VC market
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
Digital illustration of Canada bank transfer fee reform showing easier investment account switching, lower fees, open banking, payment infrastructure and stronger financial competition
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Digital illustration of tokenized financial assets, blockchain settlement and legal infrastructure, representing Canada's investment funds and collateral markets.
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
Digital illustration of team building activities boosting workplace morale with coworkers playing games and laughing in a bright modern office
November 10, 2026 | Market Activity | Fundraising, Investing, Trading, Leadership, Competition, Human Capital, Health A Brokerage Race Beyond $0 Commissions On November 10, 2026, Webull Canada added Nasdaq Basic Canada, giving clients free real time Level 1 quote and trade data across Canadian listed equities. The feed provides best bid, best offer and last sale information for stocks listed on the TSX, TSX Venture, CSE and Cboe Canada. Nasdaq says its consolidated feed can reduce Level 1 market data costs by more than 60% compared with traditional Canadian data packages. Webull isn't first to give Canadian investors free real time information. The more interesting story is how quickly another paid feature is becoming part of the basic brokerage account. Wealthsimple helped normalize $0 trading in 2019, Questrade followed in 2025 and Webull dropped its own commissions in April 2026. With the headline trading fee largely gone, brokers now need other reasons for investors to move money and keep it on the platform. Who Led Canada’s Race To $0 Trading And Free Market Data Wealthsimple Trade launched nationally on March 13, 2019 with $0 commissions on Canadian and U.S. stocks and ETFs. Questrade removed commissions on listed stocks and ETFs ...
AI illustration of Canadian online brokerage competition with racing cars promoting $0 commissions, free real time market data and transfer match bonuses
November 10, 2026 | Market Activity | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding A Toronto Fintech Riskfuel Analytics Brings AI Pricing Into BBVA’s Global Markets Workflow On November 10, 2026, BBVA deployed Riskfuel Analytics' neural pricing technology inside the pre-trade structuring workflow for autocallable products on its ePricer platform. Riskfuel is a Toronto fintech founded in 2019 that builds AI models for derivatives pricing. BBVA is a global bank with a large corporate and investment banking business. The deployment puts Canadian built AI directly into the calculations used to design complex structured products at a major global bank. Riskfuel's model is trained on BBVA's own pricing engine and uses more than 4,000 market and product inputs. The company says the surrogate was tested against more than 100,000 trades and can evaluate thousands of candidate structures in under a minute. BBVA had already added AI generated investment ideas to ePricer in September. Riskfuel goes further into the workflow by speeding up the numerical pricing work while BBVA's own model remains the reference. How Riskfuel Speeds Up BBVA's Autocallable Pricing Autocallables can depend on volatility, interest rates, dividends, maturity, coupon levels and several barrier conditions. Autocallables are structured investments ...
AI illustration of AI powered derivatives pricing shown on a financial trading screen, illustrating Riskfuel technology used in BBVA structured product workflows

 

Signs Your Appliance Needs Repair (And How to Avoid Major Issues)

March 10, 2025

Freepik tonodiaz, Appliance Repair

Image: Freepik/tonodiaz

In today's fast-paced world, home appliances have become integral to our daily lives. From refrigerators to washing machines, dishwashers to microwaves, these appliances make household chores easier and more efficient. However, like all machines, appliances experience wear and tear, and eventually, they may require repairs. Recognizing when your appliance needs repair can save you time, money, and frustration in the long run. This article will discuss the common signs that indicate your appliance needs repair and provide tips on how to avoid major issues before they arise.

1. Unusual Noises

One of the most obvious signs that something is wrong with an appliance is when it starts making strange noises. Whether it's a loud banging, grinding, squeaking, or buzzing sound, unusual noises should never be ignored. These sounds often indicate that parts are malfunctioning or that there's an issue with the internal components of the appliance.

For instance, if your refrigerator starts making a loud humming noise, it might mean that the compressor is struggling or that the condenser fan is malfunctioning. In a washing machine, a grinding noise could suggest an issue with the drum or motor.

How to avoid it: Regular maintenance and cleaning of your appliances can help prevent abnormal sounds. For example, cleaning the refrigerator coils can help the compressor run more efficiently, while lubricating the moving parts of washing machines and dishwashers can prevent wear and tear. Scheduling regular service checks will also help catch issues before they worsen.

2. Inconsistent Performance

When your appliance begins to work inconsistently, it's a strong indication that it needs attention. For instance, a dishwasher that is not cleaning dishes properly or a refrigerator that is not cooling as it should can be a sign of an underlying problem. Inconsistent performance often means that one of the internal systems, such as the heating element, thermostat, or motor, is failing.

A clothes dryer that doesn’t dry clothes thoroughly or takes longer than usual can be another example. It might be due to a clogged vent or a malfunctioning heating element.

How to avoid it: Proper usage and regular cleaning are essential for maintaining appliance performance. For refrigerators, ensure the door seals are tight, and the coils are clean. For dishwashers, avoid overloading and clean the spray arms to ensure water flows evenly. Also, follow the manufacturer's maintenance guidelines to ensure everything is running smoothly.

3. Leaks or Water Damage

Water leaks are among the most common signs that an appliance is in trouble. Whether it's a washing machine, dishwasher, or refrigerator, any leak should be taken seriously. A leaking appliance not only wastes water but can also cause significant damage to your floors, walls, and other household items.

For instance, a dishwasher may leak due to a damaged door seal or clogged drain. Similarly, a washing machine might leak if the hose or pump is cracked or malfunctioning.

How to avoid it: Regularly inspect hoses, seals, and connections for signs of wear or cracks. If you notice any signs of water pooling around your appliances, investigate the cause immediately. Also, it’s a good practice to replace rubber seals every few years to prevent leaks before they happen.

4. Increased Energy Bills

An appliance that is working harder than it should is often inefficient, leading to increased energy consumption. If your energy bills have spiked without any other clear reason, it's worth checking your appliances. For example, a refrigerator that isn't cooling properly may work overtime to maintain the desired temperature, consuming more energy than usual. Similarly, an old or malfunctioning air conditioner may use more energy to cool the same space.

How to avoid it: Upgrade to energy-efficient models when possible, as these appliances use less energy. Regular maintenance, such as cleaning air filters in HVAC systems and refrigerators, can help appliances run more efficiently. Also, ensure that appliances are not overloaded, as this can lead to inefficiency and higher energy costs.

5. Strange Odors

A foul or burnt smell coming from an appliance can indicate that something is wrong. For example, if your microwave is emitting a burnt smell, the wiring or internal components may be overheated or malfunctioning. Similarly, a musty smell from a washing machine could be a sign of mold or mildew buildup due to improper drainage or excessive moisture.

How to avoid it: Regularly clean your appliances to prevent the growth of mold or mildew, especially in areas where moisture can accumulate. For microwaves and ovens, clean food particles and grease buildup to avoid overheating. If your washing machine smells, run a cleaning cycle with vinegar and hot water to eliminate odors.

6. Error Codes or Malfunctioning Displays

Modern appliances, particularly those with digital displays, often show error codes or malfunctioning screens when something is wrong. These error codes can help diagnose the problem and indicate whether it's a minor issue or something more serious.

For example, if your dishwasher is displaying an error code, it could indicate a clogged filter, an issue with the pump, or a malfunctioning temperature sensor. Similarly, if the control board on your oven is malfunctioning, the display may flicker or stop working altogether.

How to avoid it: Always follow the manufacturer's instructions and guidelines when using and maintaining your appliances. If an error code appears, consult the manual to troubleshoot. Performing regular maintenance and checking the appliance for loose connections or worn-out parts can help reduce the likelihood of these issues.

7. Age of the Appliance

The age of an appliance plays a significant role in its likelihood of needing repairs. Older appliances are more prone to breakdowns because their parts wear out over time. For example, a refrigerator that is over 10 years old may be more prone to compressor failure or a washing machine with a failing motor.

See:  How Energy Efficiency Can Significantly Reduce Property Cost

How to avoid it: While you can’t prevent the aging of your appliances, you can extend their lifespan with proper care. Regular maintenance, proper usage, and timely repairs can help keep older appliances running longer. However, when the cost of repairs starts to exceed the cost of a replacement, it might be time to invest in a new appliance.

Conclusion

Appliance malfunctions are inevitable, but by being vigilant and recognizing the signs early, you can prevent major issues from occurring. Keep an eye out for unusual noises, inconsistent performance, leaks, energy spikes, strange odors, error codes, and signs of age. Regular maintenance, cleaning, and timely repairs can extend the life of your appliances, saving you money and avoiding the inconvenience of unexpected breakdowns. Always consult a professional technician when you're unsure of an issue, as attempting repairs without proper knowledge can lead to further damage. By addressing minor problems promptly, you'll ensure that your appliances continue to function effectively for years to come.


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights

Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
AI illustration of a Canadian MSB acquisition due diligence checklist covering FINTRAC registration, RPAA compliance, ownership, financial review and banking relationships
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
AI illustration of Bitcoin and public company symbols representing Strategy’s removal from MSCI indexes and the financing model behind Bitcoin treasury companies
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
AI illustration of stacks of coins beside financial charts illustrating how cryptocurrency prices and circulating supply affect crypto market capitalization
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
AI illustration of AI agents connected across a financial trading network, representing shared market behaviour, trading automation and financial stability risk
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
AI Illustration of large venture capital deals dominating smaller financings, representing concentration in Canada’s VC market
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
Digital illustration of Canada bank transfer fee reform showing easier investment account switching, lower fees, open banking, payment infrastructure and stronger financial competition
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Digital illustration of tokenized financial assets, blockchain settlement and legal infrastructure, representing Canada's investment funds and collateral markets.
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
Digital illustration of team building activities boosting workplace morale with coworkers playing games and laughing in a bright modern office
November 10, 2026 | Market Activity | Fundraising, Investing, Trading, Leadership, Competition, Human Capital, Health A Brokerage Race Beyond $0 Commissions On November 10, 2026, Webull Canada added Nasdaq Basic Canada, giving clients free real time Level 1 quote and trade data across Canadian listed equities. The feed provides best bid, best offer and last sale information for stocks listed on the TSX, TSX Venture, CSE and Cboe Canada. Nasdaq says its consolidated feed can reduce Level 1 market data costs by more than 60% compared with traditional Canadian data packages. Webull isn't first to give Canadian investors free real time information. The more interesting story is how quickly another paid feature is becoming part of the basic brokerage account. Wealthsimple helped normalize $0 trading in 2019, Questrade followed in 2025 and Webull dropped its own commissions in April 2026. With the headline trading fee largely gone, brokers now need other reasons for investors to move money and keep it on the platform. Who Led Canada’s Race To $0 Trading And Free Market Data Wealthsimple Trade launched nationally on March 13, 2019 with $0 commissions on Canadian and U.S. stocks and ETFs. Questrade removed commissions on listed stocks and ETFs ...
AI illustration of Canadian online brokerage competition with racing cars promoting $0 commissions, free real time market data and transfer match bonuses
November 10, 2026 | Market Activity | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding A Toronto Fintech Riskfuel Analytics Brings AI Pricing Into BBVA’s Global Markets Workflow On November 10, 2026, BBVA deployed Riskfuel Analytics' neural pricing technology inside the pre-trade structuring workflow for autocallable products on its ePricer platform. Riskfuel is a Toronto fintech founded in 2019 that builds AI models for derivatives pricing. BBVA is a global bank with a large corporate and investment banking business. The deployment puts Canadian built AI directly into the calculations used to design complex structured products at a major global bank. Riskfuel's model is trained on BBVA's own pricing engine and uses more than 4,000 market and product inputs. The company says the surrogate was tested against more than 100,000 trades and can evaluate thousands of candidate structures in under a minute. BBVA had already added AI generated investment ideas to ePricer in September. Riskfuel goes further into the workflow by speeding up the numerical pricing work while BBVA's own model remains the reference. How Riskfuel Speeds Up BBVA's Autocallable Pricing Autocallables can depend on volatility, interest rates, dividends, maturity, coupon levels and several barrier conditions. Autocallables are structured investments ...
AI illustration of AI powered derivatives pricing shown on a financial trading screen, illustrating Riskfuel technology used in BBVA structured product workflows

 

BNPL: Is Financing an Engagement Ring a Smart Move?

March 3, 2025

Freepik pressfoto, engagement ring

Image: Freepik/pressfoto

When you want to buy an engagement ring for your loved ones, it can be a big financial investment. Many couples look for flexible payment options since prices can range from a few hundred to several thousand dollars. This is where Buy Now, Pay Later (BNPL) comes in.

This payment method has gained popularity in recent years, especially among younger customers who always want to go for flexibility. But is BNPL always the best choice? Let’s go over its pros and cons while also discussing how this payment method differs from traditional financing options.

How BNPL Works

Customers can divide their purchases into smaller, interest-free installments over a certain length of time using BNPL services. Depending on the supplier, these payments are normally made either monthly or every two weeks. Businesses that provide BNPL choices at checkout, like Klarna, PayBright, Afterpay, and Sezzle, make it simple to apply and receive approval in a matter of minutes.

For instance, let's say you spend $3,000 on the ideal engagement ring. Instead of paying the entire sum up at once, you might divide the cost of BNPL into four equal installments of $750 spread over two months. Some providers offer longer repayment terms with low interest.

Why BNPL is Gaining Popularity for Engagement Rings

  • Attracting Younger Buyers

As an alternative to traditional credit cards, BNPL is growing in popularity among Gen Z and Millennials. Customers who were between the ages of 35 and 44 (65.4%), 25 and 34 (64.1%), and 18 and 24 (61.2%) have utilized BNPL services. Younger buyers prefer short-term, interest-free financing, making BNPL a popular option for big purchases like engagement rings.

Many couples are turning to engagement rings with lab-grown diamonds  as a more affordable and ethical alternative to traditional diamonds. With BNPL, these options become even more accessible, allowing buyers to spread out payments without upfront financial strain.

  • No Hard Credit Check

Unlike conventional loans or credit cards, a rigorous credit investigation is frequently not necessary for BNPL services. This facilitates eligibility for those with little credit history.

  • Fast and Simple Approval Process

While credit cards or personal loans might take days to process, BNPL applications are completed in minutes and approved instantly.

  • Budget-Friendly Payments

BNPL makes it simpler to buy expensive things like engagement rings by breaking the cost down into smaller, more manageable installments rather than requiring a single payment.

Pros of Using BNPL for an Engagement Ring

  • Interest-Free Payments (In Some Cases)

You may finance your ring without paying additional fees if you select a zero-interest BNPL plan and make your payments on schedule.

  • No Credit Score Impact (Most of the Time)

BNPL is a low-risk financing alternative because most BNPL providers don't report to credit bureaus until you skip payments.

  • Quick and Easy to Use

It is easy for customers who do not wish to apply for credit cards or personal loans because many businesses provide BNPL at checkout.

  • Predictable Payment Plans

You always know how much you owe since BNPL provides set repayment schedules, unlike credit cards with fluctuating interest rates.

Cons of Using BNPL for an Engagement Ring

  • Late Fees and Penalties

BNPL providers may impose late fees for late payments, which may mount up rapidly.

  • Limited Consumer Protections

BNPL does not provide consumer protections for fraud or disputes, in contrast to credit cards. It can be more difficult to fix if there is a problem with your purchase.

  • Potential to Overspend

BNPL makes it simple to purchase pricey goods without having to worry about the money right now. Spending more than you can afford might result from this.

  • Impact on Future Loans

Missed payments may be reported to credit bureaus by certain BNPL providers, which might lower your credit score and make it more difficult for you to be accepted for larger loans (like a mortgage).

BNPL vs. Traditional Financing: Which is Better?

Financing Option Pros Cons
BNPL No interest (if paid on time), fast approval, easy repayment terms Late fees, potential overspending, fewer consumer protections
Credit Cards Purchase protection, rewards, long repayment options High interest rates, can accumulate long-term debt
Personal Loan Lower interest than credit cards, fixed repayment Requires application process, may need a credit check
Jewellery Store Financing Some stores offer 0% interest promo periods Can have hidden costs and high interest after promo ends

Smart Tips for Using BNPL on an Engagement Ring

  • Set a Budget Before Shopping
    Decide how much you can afford before using BNPL, so you don’t overspend on a ring.
  • Check Interest Rates and Fees
    Some BNPL providers charge interest on longer-term plans. Compare your options before committing.
  • Make Sure You Can Afford the Payments
    Missing payments can lead to penalties and may affect your ability to borrow in the future.
  • Compare BNPL with Other Financing Methods
    Look at credit cards, personal loans, and store financing to see which option works best for you.

See:  37% Globally to Use Local Payment Methods by 2028

A wise method to purchase an engagement ring and save money upfront is through BNPL. If you qualify for an interest-free plan and can make on-time payments, BNPL can be a smart and budget-friendly choice. But if you struggle with timely payments or tend to overspend, traditional financing might be better.

Ultimately, the best financing choice depends on your financial discipline and ability to manage payments responsibly.


NCFA Jan 2018 resizeThe 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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The Top Trends from Forbes’ 2025 Fintech 50 List

Fintech Ranking | Feb 20, 2025

2025 Forbes Fintech 50 Illustration by Óscar Raña for Forbes

Image: 2025 Forbes Fintech 50 (Illustration by Óscar Raña for Forbes)

What We Can Learn from the Forbes Fintech 50 in 2025

Every year, Forbes publishes their annual ranking of the top Fintech companies.  Checkout the Forbes Fintech 50 in 2025, showing fintech companies that continue to grow despite pressure on company valuations and a slowdown in investment in the sector.  According to the judges who select and rank the top 50 at Forbes, this year there's been a rise of business-t0-business fintechs, as well as the increasing importance of fraud prevention and financial security companies.

Category Total Funding ($M) # Companies
Payments 4482 11
Personal Finance 3812 8
Business to Business Banking 3794 11
Wall Street and Enterprise 1892 9
Insurance 1742 4
Blockchain and Cryptocurrencies 1670 3
Real Estate 508 2
Investing 265 2

1. B2B Fintechs Strong Showing

More than half of the companies on the list provide fintech services to other businesses rather than consumers.  Categories like Payments and B2B Banking are seeing strong growth as businesses turn to fintechs to automate and improve their operations, reduce costs and streamline regulatory challenges.  Fintech goes well beyond innovative consumer digital banking, it's morphing into improving financial systems at scale. Wall Street & Enterprise fintechs are also playing an outsized role in modernizing financial infrastructure at the institutional level.

See:  10 Fintech and Crypto IPOs 2025 – Boom or Bubble?

The chart below illustrates the number of fintech companies in each category, emphasizing the dominance of business-focused fintechs:

Fintech companies by category (Forbes Fintech 50, 2025)

Image: Total # of Fintech Companies by Category (Forbes Fintech 50, 2025)

The chart below shows the total funding received by fintech category, showing which categories are bucking the trend despite the downturn.

Total Funding by Fintech Category Forbes Fintech 50, 2025

Total Funding by Fintech Category Forbes Fintech 50, 2025

Payments fintechs still lead the pack with over $4.4 billion in total funding. This aligns with their critical role in powering e-commerce and digital transactions worldwide.

2. Focus on Profitability Amidst a Funding Slump

In the early 2020s, fintech companies focused on rapid growth but times have changed and they are now after profitability and sustained growth. This year, 13 companies on the list reported official profits (up from just eight last year). Investors and businesses alike are prioritizing financial health over unchecked expansion.

See:  CIX 2025 Fintech and AI Startup Award Winners

Even though global fintech funding fell from $144 billion in 2021 to $34 billion in 2024, most companies on this year’s Forbes Fintech 50 have shown resilience. Major players like Stripe and Ramp have adapted by pivoting, reducing costs while focusing on efficiency.

3. Fraud Prevention and Security Are More Important Than Ever

As digital transactions increase so do fraud risks.  Security based fintechs are gaining traction as businesses need stronger protections against cyber threats and fraud.  DataVisor, a company that uses advanced machine learning to detect fraudulent transactions experienced a 67% increase in revenue in 2024, reaching $50 million.

4. Lending Fintechs Comeback

Companies like Arc, Aven, and Imprint have made their way onto this year’s list, showing that the lending market is regaining investor confidence. Nova Credit, for example, previously fell off the list but re-emerged this year with a renewed focus on cash flow underwriting and a fresh approach to risk assessment.

5. One Canadian Contender, Relay

While much can be argued about the methodology of actually being selected for the Forbes Fintech 50 list.  To be honest there are several significant Canadian fintechs that should be on the list but aren't for whatever reason, such as Wealthsimple.  But Relay made it so something to cheer about.

See:  Key Findings from 2025 Advanced Payments and Fintech Survey

They are a Toronto-based digital banking platform for small businesses and provide financial management tools that integrate with accounting software, making it easier for businesses to manage their money. In 2024, they raised $32.2 million in a Series B funding round, strengthening their market position and offerings.

Top Fintech Companies by Category

Here’s a closer look at a couple of standout fintech firms within each category:

Payments

  • Stripe – A global online payments leader providing seamless transaction infrastructure for businesses
  • DailyPay – Helps employees access earned wages before payday, improving financial flexibility for millions

Business-to-Business (B2B) Banking

  • Relay – Canada’s only fintech on the list offering digital banking for small businesses
  • Parafin – Uses marketplace data to underwrite loans, achieved 100% revenue growth in 2024

Wall Street & Enterprise

  • DataVisor – Specializes in AI powered fraud detection, growing revenues by 67% in the past year
  • Alloy – Provides identity verification solutions for financial institutions, automating compliance and security processes

Personal Finance

  • True Link – Offers financial services for vulnerable populations including the elderly and those with disabilities
  • Chime – A digital bank providing fee-free accounts and early direct deposits

Insurance

  • Ethos – Makes life insurance more accessible with a fast, tech-driven application process
  • At-Bay – A cyber insurance company that proactively monitors digital risks for clients

Blockchain & Cryptocurrencies

  • Figure – Uses blockchain to offer home equity lines of credit and mortgage refinancing
  • Fireblocks – Provides secure infrastructure for handling digital assets

Real Estate

  • Aven – Introduces innovative financing solutions to make real estate investments more accessible
  • Valon – A mortgage service provider making home loan management simpler and more transparent

Why This Matters

The 2025 Forbes Fintech 50 shows the race for scale is now about profitability with payments, security, infrastructure, and B2B services leading the way.  For Canada, Relay’s presence on the list is promising but begs the question, why aren’t more Canadian fintechs on the list?


NCFA Jan 2018 resizeThe 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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Different Retirement Income Sources and Their Tax Implications in 2025

Feb 12, 2025

Freepik Retirement

Image: Freepik

Most people want to retire after working for much of their life. However, they hesitate to fulfill their dreams because of the financial insecurity. No one exactly knows how much they need to live peacefully after retiring. According to experts, you can do well with 60% to 70% of your pre-retirement income based on your lifestyle. Some may even require less than this. Hence, it all depends on your lifestyle decisions, the age from when you start using your savings, and what you do with your inheritance. They believe that retirees must know the types of retirement income sources they have and how taxes apply. Considering this aspect is equally essential as focusing on the savings. Some standard options include registered retirement savings plans, tax-free savings accounts, government pensions, employer pensions, etc. Let’s delve into a few of them for some quick knowledge.

  • RRSP Savings

A larger group of Canadians earn their retirement money from their contributions to their registered retirement savings plans. The benefit of this savings plan is that your capital and income continue to grow tax-free. You pay tax during fund withdrawal, whether before or after retirement. Theoretically, people pay lower taxes when they withdraw money after retirement. However, it will be high if you use the funds during your working year while earning a reasonable sum. You must close this account when you are 71. If you take out cash, it will be fully taxable. The better option can be transferring it to some other viable tax-advantaged accounts. How do you choose? Consult Aleph Retirement Planners or other specialised agencies to understand your choices.

  • Government pension plans

Canada pension plan and old age security are the two common sources. You can benefit from OAS based on your income and the number of years you spend in Canada. CPP can be accessible based on how you contribute to it during employment. Benefits can be enjoyed as early as age 60. However, 65 is the standard. Early withdrawals severely affect your payouts up to 36.0%. Otherwise, the monthly amount will be reduced by 0.6%. In 2025, OAS payments for 65-74 age groups can be C$728 and for 75 and over, C$800. The amount can be significant if you withdraw it later, until age 70. At the same time, you must be careful about the net income generated from various sources. OAS clawback may apply if it is more than C$90,997 in 2024. Since these areas become a little tricky, it's best to contact your retirement planner to understand your options.

Furthermore, Guaranteed Income Supplement can be available for seniors with less than C$21,624 income. However, this threshold can be slightly higher for an individual living with his spouse. These things depend on the status of the OAS pension.

  • TFSA

Tax-free savings accounts are not necessarily a retirement income source. But they can be included in the plan to optimise earnings. You can use this plan throughout your life with continuous yearly contributions. Withdrawals can be non-taxable. Hence, you must consider drawing your funds when receivables from other sources don’t meet your needs.

See:  Fintech Trends & Predictions Across Generations in 2025

Managing all these complexities without an advisor can be challenging because of your busy schedule. So, choose someone you can trust to plan your retirement better.


NCFA Jan 2018 resizeThe 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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Why Timely Fridge Repair Is Essential for Your Kitchen Efficiency

Jan 30, 2025

 

Freepik fabrikasimf, modern fridge

Image: Freepik/fabrikasimf

Your refrigerator is one of the most vital appliances in your home, ensuring your food stays fresh and safe to eat. However, when it begins to malfunction, delays in repair can lead to food spoilage, increased energy bills, and even permanent damage to the appliance. In this guide, we'll explore why timely fridge repair is critical for maintaining kitchen efficiency and how to recognize when your fridge needs attention. To delve deeper, read the article for professional insights.

1. Prevent Food Spoilage

A malfunctioning refrigerator may struggle to maintain the optimal temperature for preserving food. Perishable items like dairy, meat, and fresh produce can spoil quickly if the temperature rises above 40° F (4° C). Addressing issues such as fluctuating temperatures or a failing compressor promptly can save you money and prevent food waste.

2. Avoid Higher Energy Bills

When a refrigerator is not functioning correctly, it often compensates by working harder, leading to increased energy consumption. For example, a broken door seal or a faulty thermostat can cause the appliance to run continuously. Timely repairs can help restore energy efficiency and lower your utility costs.

3. Extend the Lifespan of Your Appliance

Ignoring minor issues can lead to major breakdowns that might be irreparable. Regular maintenance and prompt repairs ensure that your fridge operates smoothly and lasts for its intended lifespan. Prolonging the appliance's life also reduces the environmental impact associated with disposal and replacement.

4. Maintain Food Safety

Unsafe fridge temperatures can encourage the growth of harmful bacteria like Salmonella and E. coli, posing serious health risks. Regular checks and repairs are essential to ensure your fridge maintains a consistent and safe temperature.

Signs Your Fridge Needs Immediate Repair

  • Excessive Frost Build-Up: This could indicate a problem with the defrost system or door seals.
  • Unusual Noises: Loud humming, clicking, or rattling sounds may suggest compressor or fan issues.
  • Water Leaks: Leaks often stem from blocked defrost drains or damaged water lines.
  • Fluctuating Temperatures: This might be caused by a failing thermostat or a blocked air vent.
  • High Energy Usage: A sudden increase in electricity bills could point to an overworking fridge.

Proactive Maintenance Tips

  1. Clean the condenser coils every six months to improve efficiency.
  2. Inspect and replace door seals to prevent cool air leakage.
  3. Keep the fridge organized to allow proper air circulation.
  4. Set the temperature to the recommended range: 37° F for the fridge and 0° F for the freezer.

Why Professional Repairs Are Worth It

DIY repairs can sometimes cause more harm than good, especially if you lack the expertise or tools required. Professional technicians can quickly diagnose and resolve issues, ensuring that your fridge operates at peak efficiency. Moreover, hiring experts protects your appliance\u2019s warranty and prevents costly mistakes.

Statistics on Fridge Performance and Repairs

  • According to industry reports, 40% of fridge failures result from neglecting minor repairs.
  • Regular maintenance can reduce energy consumption by up to 15%, according to the U.S. Department of Energy.

Conclusion

Timely fridge repair is not just about convenience, it's about protecting your food, saving money, and ensuring your kitchen runs efficiently. By addressing issues promptly, you can prevent further damage and keep your refrigerator in optimal condition.

See:  The Most Common Dryer Issues and How to Address Them

As the great inventor Nikola Tesla once said, "The present is theirs; the future, for which I really worked, is mine." By taking proactive steps today, you're ensuring a more efficient and worry-free tomorrow for your home.


NCFA Jan 2018 resizeThe 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

NCFA Financial Innovation MapNCFA Innovation Opportunity BriefsNCFA Fintech Insights
NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter