Author name: Team Techbeat

Featured, IOT

Tribe Property Tech : Acquisition Facility of up to $15 Million to expand its M&A activities with Canadian Schedule A Bank

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VANCOUVER, BC, Oct. 12, 2023 /CNW/ – Tribe Property Technologies Inc. (TSXV:TRBE) (OTCQB US: TRPTF) (“Tribe” or the “Company“), a leading provider of technology-enabled property management solutions, is pleased to announce that it has signed a definitive loan agreement (the “Loan Agreement“) with the Technology and Innovation Banking arm of a Canadian Schedule A Bank, that provides a senior term loan facility (the “Facility“) for up to $15 million. The Facility consists of a $3 million operating line to support the Company’s working capital requirements and an M&A facility of $7 million with an additional accordion feature of $5 million, for a total of up to $15 million of non-dilutive capital. The definitive agreement was signed on Thursday, October 5, 2023 with an interest rate of prime + 2.65% per annum for both facilities.  “We are thrilled to announce this significant milestone for Tribe which further strengthens our commitment to strategic growth and financial stability,” said Joseph Nakhla, CEO of Tribe. “Executing this financing facility is an essential piece of our M&A growth strategy as it provides us with access to non-dilutive capital which will be beneficial to our long-term capital structure, as well as aid in accelerating our growth plans.” About Tribe Property Technologies Tribe is a property technology company that is disrupting the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe’s integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers. Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe’s platform decreases customer acquisition costs, increases retention, and allows for the addition of value-added products and services through the platform. Visit tribetech.com for more information. ON BEHALF OF THE BOARD “Joseph Nakhla”Chief Executive Officer Tribe Property Technologies Inc. Joseph NakhlaChief Executive Officer1606 – 1166 Alberni Street, Vancouver, BCV6E 3Z3(604) 343-2601 NOT FOR DISTRIBUTION IN THE U.S. OR TO U.S. NEWSWIRE SERVICES. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement on Forward-Looking Information This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws regarding the Company and its business.  When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Forward-looking statements or information in this news relate may relate to statements with respect to the Facility and closing thereof; the aims and goals of the Company; financial projections; growth plans including future prospective consolidation in the rental management sector; future acquisitions by the Company; the completion of this transaction; beliefs of the Company with respect to the independent owner-investors market; prospective benefits of the Company’s platform; and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. The Company does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations. SOURCE Tribe Property Technologies Inc.

Featured, Start ups

RBC + Xero to help Canadian businesses automate payables process

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New integration between RBC PayEdge™ and Xero will allow more business owners to benefit from automated accounting reconciliations and digital payments, designed to create significant time and cost savings TORONTO, Oct. 12, 2023 /CNW/ – Royal Bank of Canada (RBC) and Xero, the global small business platform, today announced an integration that will allow business customers to sync their RBC PayEdge™ account with Xero to simplify and automate payments to suppliers around the world. RBC PayEdge™ is a payments platform that allows businesses to combine multiple funding sources regardless of a client’s bank or account type, pay suppliers in the payment form of their choice, and gain more flexibility with their working capital tools. Canadian businesses using Xero will now be able to import authorized invoice details into RBC PayEdge™, fund and pay their suppliers through their chosen method, and automatically post the reconciling journal entry back to Xero once done. As a result, businesses will be able to automate their invoice-to-pay process and manage their payments workflow from one location, that may lead to increased efficiency and savings. With access to cash flow data, business owners no longer need to wait for month-end statements and can effectively streamline processes to improve overall financial administration. “Adopting the latest digital payment solutions and technologies is one of the fastest growing priorities for small businesses who are increasingly looking for innovative ways to simplify and expedite their payment needs while maximizing their cash flow,” says Lisa Lansdowne-Higgins, senior vice president, Business Transformation and Deposits, RBC. “We’re excited to introduce the integration of the RBC PayEdge™ and Xero platforms, allowing business owners to unlock the power of automated reconciliation and digital payments, while realizing significant time and cost savings.” “The ability to pay supplier bills is a crucial part of conducting day-to-day business. The integration with RBC PayEdge™ will simplify the bill pay experience, allow small businesses to access cost-efficient payment methods, and give an up-to-date view of their cash flow so they can make better business decisions,” says Faye Pang, Canada country manager, Xero. Connecting to Xero is just one of the many ways in which RBC truly delivers value beyond traditional banking and supports business owners along every stage of their entrepreneurship journey. As an RBC client, businesses have access to exclusive offers and solutions that help them simplify their operations, and save time and money, whether it be registering and incorporating their business with Ownr, integrating a range of ecommerce services and payment solutions with Moneris, searching for talent with Indeed – Canada’s #1 job site – or seeking real-time customer insights and market trends to find their next growth market with RBC Insight Edge™ for Small Business. Contact your RBC Advisor to learn more about our beyond banking services. RBC was also recognized as the winner of the 2023 Best Treasury and Cash Management Provider for Canada by Global Finance for its market-leading efforts to deliver payment innovations and digital banking solutions, including RBC PayEdge™. The RBC PayEdge™ integration is now available to Xero customers looking to transform the way their payables are processed. Current RBC PayEdge™ subscribers with Xero accounts can sync their payables and invoice details directly through their PayEdge dashboard. Click here to learn more https://apps.xero.com/ca/app/rbc-payedge.

Person adding PIN to ATM machine to withdraw cash
IOT

Fintechs Canada launches campaign urging Ottawa to modernize Canada’s financial sector

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Choose More” advocates for lower fees, more choices and faster payments for Canadians OTTAWA, ON, Oct. 4, 2023 /CNW/ – Fintechs Canada today launched the “Choose More” campaign, an initiative to raise awareness of how our financial sector could better serve Canadian consumers and businesses. The campaign is a response to the significant financial strains Canadians are experiencing: The “Choose More” campaign aims to give Canadians a way to participate in the national debate and demand change from the federal government. By fulfilling promises related to open banking and payments modernization, the federal government can put more money back into the pockets of Canadians. “Canadians are really feeling the pinch across a range of sectors, and the financial sector is one of them. While our global counterparts are making their financial sectors work harder for their customers, Canadians are still waiting for their government to do the same,” said Alex Vronces, Executive Director at Fintechs Canada. “We believe Canadians know what best suits their financial needs, and so this campaign raises awareness of reforms that give Canadians more choice.” The launch of “Choose More” stands as a testament to Fintechs Canada’s commitment to driving change in the financial sector. To join the campaign, visit www.choosemoreforyourfuture.com. The campaign website articulates myths vs. facts, offers insights into the current financial system, and provides a platform for Canadians to demand reforms. _______________________ 1 https://globalnews.ca/news/4404502/chequing-account-bank-fees-ratehub-canada/ 2 https://www.payments.ca/sites/default/files/report_costs_of_payments_processing_eng_final_2018.pdf 3 https://www.ipsos.com/en-ca/six-in-ten-canadians-who-dont-own-home-have-given-up-on-owning#:~:text=While%20the%20majority%20(76%25),and%2063%25%20of%20those%20who  About Fintechs Canada Established in May 2019 as a not-for-profit member association, Fintechs Canada serves as the collective voice for fintechs in Canada. Our membership includes market-leading Canadian fintechs, fintech-friendly financial institutions, the technology companies powering Canada’s credit union sector, and global fintech companies, among others. For more information on how Fintechs Canada is shaping the future of fintech in Canada, visit our website and LinkedIn page. SOURCE Fintechs Canada

Featured, Fintech

FutureVault Lands Clifton Schaller as Chief Growth Officer

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TORONTO, Oct. 9, 2023 /PRNewswire/ — FutureVault Inc. (“FutureVault”), an industry-leader in secure document exchange and digital vault solutions pioneering the Personal Life Management Vault™ for financial services and wealth management organizations, announced earlier today the appointment of Clifton Schaller as the company’s Chief Growth Officer.  “We could not be more pleased to introduce Clifton Schaller as our Chief Growth Officer, whose strategic vision and expertise in driving business expansion will be instrumental in our company’s success,” commented Daniel Kenny, Chief Executive Officer at FutureVault. “With a proven track record in developing innovative growth strategies at well-known organizations, Clifton brings a wealth of industry experience and expertise to our executive team.” Clifton holds an extensive professional background in the North American Wealth Management and WealthTech (Wealth Technology), having previously served in key leadership roles at prominent organizations, including Capital One, Morningstar, and Nitrogen Wealth (formerly Riskalyze). Clifton also serves as an advisory board member for the rising startup, Smart KX. Clifton has a passion for customer-driven insights, striving to identify the biggest trends, pain points, and opportunities for innovation across the entire financial services ecosystem, and then looking for people or technology best positioned to address them. With an impressive background spanning corporate development, product management, and strategic partnerships. As the company’s Chief Growth Officer, Clifton will be responsible for managing multiple departments and driving FutureVault’s corporate strategy. “I’m thrilled to announce my new role here at FutureVault as the company’s Chief Growth Officer and I look forward to accelerating product led growth with an incredibly talented executive team and strong company culture,” commented Clifton Schaller. FutureVault Co-founder and Executive Chair, G Scott Paterson, commented, “Clifton is a world-class product, growth, and technology leader who brings deep strategic experience and corporate development expertise that will position FutureVault to grow, scale, and become an industry leader in digital vaults and Personal Life Management.” For media inquiries and additional information about FutureVault’s patented, industry-leading Digital Vault technology, please visit futurevault.com. About FutureVault Inc.FutureVault is an industry-leader in secure document exchange and Digital Vault solutions for financial services and wealth management organizations, changing the paradigm of document and information management with the Personal Life Management Vault™ and Business Life Management Vault™. FutureVault’s multi-tiered platform is transforming enterprise, advisor, and client value propositions by significantly improving the way documents, data, and information are managed within a secure, audit-ready, single source of truth. FutureVault’s white-labeled platform and mobile applications help firms meet books and records compliance, improve data privacy, drive front and back-office efficiency with automation and open APIs, and deliver an enhanced digital client experience to better engage with households and the next generation. Data extraction and AI-driven patterns to gain additional efficiency and insight are available for enterprise customers. FutureVault is recognized as a 5-star WealthTech provider and a top 100 most innovative global WealthTech solution provider. Visit futurevault.com to learn more.

AI, Fintech

Small businesses are underestimating their cyber risk despite increased threats

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TORONTO, Sept. 27, 2023 /CNW/ – Most small businesses don’t believe they will experience a cyber attack, yet many employees are concerned they are putting their organizations at risk, according to a recent poll by Insurance Bureau of Canada (IBC). IBC’s 2023 Cyber Security Survey found that more than 60% of small businesses believe their business is too small to be targeted by cyber criminals. This number rises to 73% for sole proprietors. The majority of business owners surveyed were not concerned about their staff posing a cyber risk, however, three out of four employees surveyed admit to having taken at least one action that poses a cyber security risk.The poll also showed growing employee concerns with cyber safety. For example: 25% of employees don’t feel they have the tools and training needed to identify potential cyber threats at work 22% of employees are concerned their actions could contribute to a cyber attack or data breach 10% of employees have shared confidential information with a publicly available chatbot or artificial intelligence (AI) platform. “While large companies are often common targets for cyber criminals, small and medium-sized businesses are also at a heightened risk,” said Liam McGuinty, Vice President of Strategy at IBC. “Both employers and staff play an important role in cyber security, and regular staff training is a critical component in reducing risk.” Despite nearly 40% of small business employees indicating that they had seen an increase in scam attempts over the last 12 months, employer responses showed that they may not be making enough investments in cyber protection: 69% do not consider cyber security a financial priority Only 20% have any intention of purchasing cyber insurance within the next year 17% don’t think they would qualify for cyber insurance. “All businesses, but especially those that rely heavily on an online presence and use e-commerce, should consider contacting their insurance representative to help find ways to manage their cyber risk,” added McGuinty. “However, cyber insurance is just one component of an overall cyber risk mitigation strategy – it is not a replacement for cyber resilience.” IBC’s new Cyber Savvy Assessment provides information for small business ownersAs part of Cyber Security Awareness Month, IBC is launching a self-assessment tool to help business owners understand the steps most cyber insurers want businesses to take to reduce their cyber risk. While this free tool cannot provide an assessment of a business’s actual risk profile, its questions can help business owners gauge their level of readiness for cyber insurance and help determine which areas they may need to focus on to bolster their cyber resilience. The Cyber Savvy Assessment is available until October 31 at cybersavvycanada.ca, along with resources and information about the proactive measures businesses can take to help reduce their cyber risk. About IBC’s Cyber Savvy ResearchBusinesses Findings are from a survey conducted by Insurance Bureau of Canada from August 3 to 9, 2023 among n=305 Canadian business owners and decision makers who work at companies with up to 500 employees. All respondents were members of the online Angus Reid Forum. Interviews were conducted in English and French. For comparison purposes only, a sample of this size would yield a margin of error of +/- 5.6 percentage points, 19 times out of 20. Employees Findings are from a survey conducted by Insurance Bureau of Canada from August 3 to 9, 2023 among n=1,506 employed Canadians aged 18+ who work at organizations with 2 to 499 employees and work primarily on a computer or other digital device. The sample was balanced on age, gender and region to the profile of the working Canadian population. All respondents were members of the online Angus Reid Forum. Interviews were conducted in English and French. For comparison purposes only, a sample of this size would yield a margin of error of +/-2.5 percentage points, 19 times out of 20. About Insurance Bureau of CanadaInsurance Bureau of Canada (IBC) is the national industry association representing Canada’s private home, auto and business insurers. Its member companies make up the vast majority of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties. For media releases and more information, visit IBC’s Media Centre at www.ibc.ca. Follow us on X (Twitter) @InsuranceBureau or like us on Facebook. If you have a question about home, auto or business insurance, contact IBC’s Consumer Information Centre at 1-844-2ask-IBC. SOURCE Insurance Bureau of Canad

Apps, Featured, Start ups

Best days to book and fly: Expedia releases the 2024 Air Travel Hacks Report

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TORONTO, Sept. 27, 2023 /CNW/ — Expedia’s 2024 Air Travel Hacks Report was released today, providing the latest essential tips to save travellers time and money on flights, and make air travel less stressful, from when to book, how to avoid cancellations and the best day to depart on your trip. The report comes at a time when travellers are beginning to plan their holiday getaways and are feeling overwhelmed in the process. According to a survey* of 1,000 Canadian flyers, Expedia found that 39% reported air travel to be stressful and more daunting than a flooded inbox or sleeping through an alarm. Almost half (43%) of air travellers find the process of securing a good flight deal especially stressful, and 17% even checked back on ticket prices after booking to see if they could have saved more. “In terms of stress levels, booking your next flight shouldn’t be in the same ballpark as getting a cavity filled,” said Melanie Fish, head of Expedia Group Brands public relations. “The good news is many of the things that contribute to travel stress are getting better, and Expedia is constantly releasing new tools like Price Tracking and Trip Planner, that make the whole booking and flying journey smoother.” “Airlines are adding capacity and increasing service to meet the sustained air travel demand we’ve seen throughout 2023,” said Chuck Thackston, managing director of data science and research at ARC. “Air travel has proven resilient over the past few years, with travellers increasingly taking to the skies for both business and leisure.” 2024 Air Travel Hacks Report WHEN TO BOOK Book airfare on a Sunday to save up to 24%.1 Travellers who book on Sundays instead of Fridays tend to save, on average, around 17% on domestic flights and 24% on international flights. Book domestic flights at least a month before to save 33%.2 Travellers that booked 25 days prior to departure saved 33% on average compared to those who waited until the last minute. For international airfare, avoid booking too early as prices are comparatively high 106 days out. However, prices also tend to increase 20 days prior to departure. For optimal availability, selection and savings, book 30-37 days out. WHEN TO TRAVEL Depart on a Thursday to save up to 13%.3 Avoid departing on Sundays, which are the priciest days, on average, to start a trip. Depart before 3 p.m. to reduce chance of cancellations.4 24% of Canadian air travellers try to avoid morning flights because getting up early on the day of travel gives them additional stress. However, year-to-date flight status data reveals flights that depart after 3 p.m. have an 18% higher chance, on average, of being cancelled than those that depart earlier in the day. MONEY-SAVING TOOLS Price Tracking: Take the guess work out of deciding when to book with the Price Tracking feature on the Expedia app, which notifies travellers when flight prices change, and uses exclusive data to pinpoint the best time to book. Bundling: With flights, car rentals, hotels and activities, Expedia offers a wide selection of customizable vacation packages in one place, allowing travellers to save hundreds of dollars on average when booking multiple items on Expedia. Whether booking items together in the same transaction or in steps, travellers also have their itinerary all in one place making it easier to keep track of their journey. 2024 AIR TRAVEL TRENDS The number of scheduled long haul flights is nearly at 2019 levels (<5% less versus 2019) and the number of scheduled short haul flights is at 74% compared to 2019, overall increasing. Average economy ticket prices have decreased by up to 3% compared to 2022.5 Toronto, Vancouver, and Calgary range among the most popular domestic destinations for Canadian flyers. The most popular international destinations are Las Vegas (USA), Cancun (Mexico) and New York City (USA). 6 The fastest growing destination, according to Expedia flight demand data, is Beijing in China.7 ABOUT THE DATA Expedia’s annual Air Travel Hacks Report is backed by an analysis of billions of data points and the most extensive air ticketing database in the world through collaboration with Airlines Reporting Corporation (ARC) and OAG, the world’s largest provider of flight information. Expedia has produced the Air Travel Hacks Report annually for more than a decade, making it the ultimate authority on air travel insights and data-driven travel tips. About ExpediaExpedia® is one of the world’s leading full-service travel brands, with a mission of helping travellers get the most out of every trip they take by providing everything they need all in one place, ensuring they are getting the most out of every trip they take, and above all else, feel supported every step of the way. Our commitment to insights matched with our unprecedented scale allows us to understand our travellers better than anyone else, delivering exactly what they need, when they need it. Our personalized experiences, backed by incredible technology enable us to deliver the widest selection of product offerings across accommodations, transportation, activities and experiences that help you get the most out of your journey. Use our mobile app or visit www.expedia.ca to plan your journey with us. © 2023 Expedia, Inc., an Expedia Group company.  All rights reserved.  Expedia and the Airplane logo are trademarks of Expedia, Inc. in the U.S. and/or other countries. All other trademarks are the property of their respective owners. CST# 2029030-50. Follow Expedia on Instagram, TikTok, Pinterest, Twitter and YouTube. About Airlines Reporting Corporation (ARC)ARC accelerates the growth of global air travel by delivering forward-looking travel data, flexible distribution services and other innovative industry solutions. We are a leading travel intelligence company that possesses the world’s largest, most comprehensive global airline ticket dataset, including more than 15 billion passenger flights representing 490 airlines and 230 countries and territories. Our solutions and expertise strengthen economies and enrich lives by connecting stakeholders across the travel ecosystem. For more information, visit www.arccorp.com. About OAGOAG is the leading data platform for the global travel industry, powering the growth and innovation of the air travel ecosystem since 1929. It has the world’s largest network of flight information, covering the whole journey from planning to customer experience. Customers include airlines, airports, travel technology players, aviation service providers, government agencies, financial institutions, and consultancies. Headquartered in

Featured, Fintech

Aware but unprepared: Canadians know fraud is on the rise, but don’t know what to do if their data is compromised

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RBC poll finds number of Canadians whose personal information was exposed is on the rise TORONTO, Sept. 26, 2023 /CNW/ – With new scams becoming more frequent and sophisticated, a majority of Canadians (88 per cent) report they’ve experienced an increase in attempts at fraudulent activity, and seven out of 10 (73 per cent) say they were knowingly targeted, according to a new survey from RBC. In addition, more than half (57 per cent) say they received notifications their personal information was exposed in a data breach, which is up considerably from 20 per cent in 2022. Yet, while Canadians’ awareness of scams is high, most (68 per cent) don’t know what actions to take if their personal data is compromised, leaving plenty of room for education and preparedness. “Cybercrime is continuously evolving as fraudsters polish their approach, whether online or through digital communications,” says Adam Evans, chief information security officer, RBC. “The poll reveals that while most Canadians have a healthy skepticism and high awareness of fraudulent activity, there’s still a lack of preparedness and knowledge around how to handle a data breach, which can lead to anything from loss of finances to identity theft.” Most common methods of fraud attempts The most common ways in which Canadians experience fraud attempts are via email (55 per cent) followed by phone calls (47 per cent) and text message (40 per cent). While nine out of ten (87 per cent) Canadians feel that they can tell the difference between legitimate and fraudulent communication, more than one third (36 per cent) report feeling helpless to protect themselves from all the fraudulent calls and emails they receive. Younger Canadians (18 to 34 years old) are more likely to feel helpless (41 per cent) compared to other age groups. Interestingly, this younger generation is simultaneously less likely to be concerned about cyber security threats than their older counterparts. Top concerns Overall, Canadians worry most about unauthorized access to their online accounts and/or personal information (82 per cent) followed closely by having their email or social media accounts hacked (78 per cent). Three quarters (76 per cent) of Canadians are concerned about identity theft and being the victim of a corporate data breach (73 per cent) or being the victim of an online scam (72 per cent). AGE Concerns about fraudulent activity Total 18-34 35-54 55+ Unauthorized access to online accounts/personalinformation (i.e. hijacking accounts) 82 % 77 % 85 % 84 % Having your email or social media accounts hacked 78 % 72 % 81 % 81 % Identity theft 76 % 67 % 80 % 79 % Being the victim of a corporate data breach 73 % 66 % 76 % 75 % Being the victim of online fraud/scam 72 % 68 % 74 % 72 % How Canadians deal with suspicious communications When it comes to the most common actions taken as a result of receiving suspicious calls, emails, or messages, two thirds of Canadians say they simply delete it (66 per cent) and block the number or email (64 per cent). Fewer than half either ignored it or reported it (44 per cent, respectively). Meanwhile, they use several techniques to determine the legitimacy of these suspicious calls, texts, or emails, including: 78% never open unexpected attachments whenever they receive them 76% always trust their instincts; if it feels wrong, it likely is 70% always pause to think before replying 68% always check communications they receive for bad grammar, spelling mistakes, and unusual language 48% say they always report suspicious emails as spam in their inbox In contrast to younger generations, older Canadians 55+ are more likely to employ counter measures like never opening unexpected attachments (85 per cent), always pausing before replying (81 per cent) and always checking the message for grammatical and spelling mistakes (73 per cent). RBC has articles, tips and guides for Canadians on its Be Cyber Aware website, including: Change the account’s password to lock out the hacker Notify your contacts that your account was hacked. Let them know they may receive spam messages that look like you sent them Make sure your security software is up to date. Scan your system for malware, especially if you suspect your computer might be infected with a virus Disable any remote access permissions on your computer Report your breach to your local enforcement authorities and financial institution About the RBC Study These are the findings of an Ipsos poll conducted on behalf of RBC. The survey was conducted in English and French. A sample of 1,500 Canadians over 18 was surveyed online via the Ipsos I-Say panel from August 14 to August 17, 2023. ABOUT RBC Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 97,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com. We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact. SOURCE RBC

Featured, IOT

Rakuten.ca: Canadians to use 5 cost-saving measures this holiday season

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Canadians are stacking more money-saving tactics this year to offset holiday spending TORONTO, Sept. 25, 2023 /CNW/ – Canadians have adjusted their money-saving and gift-giving tactics, including a reduction of grand gift exchanges for smaller variations, according to Rakuten.ca’s Holiday Spending Survey in partnership with Ignite Labs. With the average anticipated spend on holiday gifts estimated to be $570, down from $600 in 2022, Canadians are looking to reduce their holiday spending amid rising costs seen throughout the year. Parents will likely be spending the most this year than any other demographic surveyed, estimating an average spend of $745 for this holiday season. The survey found that Canadians plan to use an average of five cost-saving strategies, up from three in 2022.  Cost saving measures include: 75 per cent actively looking for sales/offers, 61 per cent planning to use loyalty programs like Rakuten.ca to earn cash back, 35 per cent planning activities instead of gifts and 56 per cent shopping earlier to spread out the expenses. 33 per cent are planning to drop some recipients from their typical lists, including friends, coworkers and neighbours. “Offsetting the financial strain of one of the highest shopping periods of the year is often a priority for many Canadians and we’re seeing increasing numbers of consumers looking at ways they can save, whether it be shopping sales or stacking deals,” says Jennifer LaForge, General Manager at Rakuten.ca. “We’ve been seeing a lot more conscious consumers, especially those looking for everyday savings to balance the high-spend holiday season with the rest of the year.” Savvy shoppers are consistently looking for new ways to save in times of increasing prices and are frequent users of money-saving tactics, cash back and loyalty programs as well as shopping sales throughout the gift giving season. Loyalty Programs & Cash Back As Canadians ramp up their money saving tactics, loyalty programs offering cash back will be increasingly utilized, with 65 per cent of respondents saying they prefer cash back versus the 35 per cent who prefer points systems. For holiday spending, 61 per cent said they would partake in the use of loyalty programs to earn cash back on their festive purchases. Shopping Timing Shopping at high sales times is a common tactic for Canadians, including the 63 per cent of those planning to shop Black Friday, 50 per cent planning to shop on Cyber Monday, and 46 per cent planning to shop on Boxing Day. 63 per cent of survey respondents also noted that they’ll be taking advantage of these sales to shop for themselves as well as others. Shift in Gift Giving Tactics When thinking of what they would like to receive themselves as holiday gifts this year, many Canadians say they would like to receive practical items that they actually need (63 per cent), followed by gift cards (53 per cent), experiences (28 per cent) and lastly luxury items (26 per cent). Thoughtful and responsible spending is top priority as Canadians are looking for ways to stretch their dollars further. In addition, to help manage holiday expenses, 76 per cent of Canadians plan to set an approximate budget for their shopping. About the survey The Rakuten Canada survey was conducted online by Ignite Lab, a Toronto-based survey consultancy specializing in retail, travel and technology segments, in August 2023 with a nationally representative sample of 1,000 Canadians. A sample of this size is accurate to within +/-3 percentage points, 19 times out of 20. References to previous Holiday research are from surveys conducted in 2022 & 2020 (approx. 6-months into Covid). About Rakuten.ca For over 10 years, Rakuten.ca is a leading shopping rewards program that offers Cash Back, deals and rewards from all your favorite brands. By partnering with over 750 brands in apparel, health and beauty, travel, on-demand services, subscription boxes and more, Rakuten helps Canadians get more from the things they buy. Since launching in 2012, Rakuten has become the largest and most rewarding shopping experience, and its 7 million members have earned $140 million in Cash Back just for shopping through Rakuten. For more information, visit Rakuten.ca.

Featured, IOT

Info-Tech Research: The Digital Transformation of Wealth Management

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In the firm’s latest research-backed industry trends report, Info-Tech Research Group reveals that future success in the wealth management industry hinges on launching digital products and services tailored for younger, digitally proficient customers. TORONTO, Sept. 22, 2023 /PRNewswire/ – With a variety of industries facing the necessity of digital transformation, the wealth management industry is undergoing a particularly significant transformation. As control of assets shifts from older customers to their often more tech-savvy children, the industry’s traditional products and services are increasingly considered outdated. As a result, Info-Tech Research Group advises that wealth management firms must pivot to meet these changing demands. Info-Tech has published The Future of Wealth Management, a trends report providing insight into current customer expectations and outlining pathways businesses can take to implement digital transformation to stay competitive in the evolving landscape. Info-Tech Research Group’s blueprint “The Future of Wealth Management” highlights a strategic, multidimensional approach consisting of 12 transformation elements that will enable wealth management firms to understand the trends driving their industry and to maintain competitiveness. (CNW Group/Info-Tech Research Group) In the report, Info-Tech explains that the wealth management industry has traditionally relied on a combination of outsourced service providers and bespoke internal systems. However, these systems were not initially designed to provide the depth of integration necessary for modern digital products and services. “The wealth management industry has serviced its customers with traditional products and services that were largely segmented by the amount of assets in the account, and that often had a single decision maker,” explains David Tomljenovic, principal research director at Info-Tech Research Group. “Engagement was heavily focused on in-person calls or meetings. Client assets were invested according to model portfolios based on customer assets, intake forms, and ‘know your client’ information. However, younger customers expect robust digital or mobile tools that deliver highly optimized processes, products, and customer experiences.” Currently in the industry, IT’s role is typically focused on support rather than on functioning as a strategic business partner. Therefore, there is a pressing need for IT to evolve its approach and foster a relationship that aligns more closely with the overarching, long-term business objectives of wealth management firms. “One common point between both the traditional customer generation and the younger generation taking over is the desire for in-person engagement,” explains Tomljenovic. “While the investing process is becoming increasingly digital, personal contact is still an essential part of the wealth management process.” The report underscores the importance of adopting a multidimensional strategy when tackling the technological hurdles in the wealth management sector, pointing out that the profound changes required in wealth management permeate numerous aspects of IT. The complexities of the technological challenges in the industry are further amplified by the rapidly evolving market dynamics, necessitating substantial shifts throughout the organization from front-end to back-end operations. Consequently, implementing a successful, comprehensive technology transformation becomes more daunting as it involves multiple elements simultaneously. Info-Tech advises that these transformational areas can be broadly categorized into three main dimensions, each comprising four components: Organizational Dimension: Collectively, these components govern how IT organizes itself and aligns with business needs to drive deep and effective delivery. This dimension is comprised of innovation, enterprise architecture (EA), agile, and DevOps methodologies. Experience Dimension: The key capabilities that are required to drive the extensive user experience transformation that wealth management customers are demanding. The experience dimension includes data, artificial intelligence (AI) and machine learning (ML), automation, and security. Infrastructure Dimension: Organizations need to master these capabilities to support current customer demands to effectively deliver open, integration-friendly, and ecosystem-based customer solutions. Infrastructure is an essential part of the transformation process. The key components are ecosystem, cloud, integration, and digital. The firm also highlights in the report that the generational wealth transfer presents a significant opportunity for wealth management firms that can adeptly navigate this transition. Timing the rollout of new digital products and services to cater to the needs of younger, digitally savvy customers will be instrumental in driving success in a new era. To learn more about the firm’s findings and the recommendations for how IT can help wealth management firms stay current in the digital era, download the complete The Future of Wealth Management trends report. For media inquiries on the topic or to get exclusive, timely commentary from David Tomljenovic, an expert in the financial services sector, please contact pr@infotech.com. About Info-Tech Research Group Info-Tech Research Group is one of the world’s leading information technology research and advisory firms, proudly serving over 30,000 IT professionals. The company produces unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. For 25 years, Info-Tech has partnered closely with IT teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations. Media professionals can register for unrestricted access to research across IT, HR, and software and over 200 IT and industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com. For more information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and Twitter. SOURCE Info-Tech Research Group

Featured, Start ups

Secoda Raises $14M to Save Companies from Drowning in Data

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TORONTO, Sept. 21, 2023 /CNW/ – Secoda, the only AI-powered modern data management platform, today announced a $14 million USD Series A funding round led by Craft Ventures, who led the company’s seed round in 2021. Also participating in the round were Abstract Ventures, existing investors YCombinator and Garage Capital, and leaders in the data space including Jordan Tigani (CEO of MotherDuck), Scott Breitenother (CEO of Brooklyn Data Co.), and Tristan Handy (CEO of dbt). The new round brings the company’s total funds raised to $16 million USD. A group photo of the Secoda team in Toronto, Canada. (CNW Group/Secoda) The investment will fuel further development of Secoda’s generative AI solutions to allow any employee to easily search, understand, and use company data, regardless of their technical ability or familiarity with the data. Secoda already integrates with the most popular data platforms such as Snowflake, dbt, and Looker, with new integrations being released consistently. Over the last year, Secoda’s customer count has grown by 5x, and the company manages over 100 million metadata resources (tables, dashboards, columns, queries, and more) for customers around the globe. Company data is a disjointed puzzle at most organizations. Data teams often have large tech stacks, full of applications that are unable to communicate with each other, and years of legacy knowledge that is not documented. Secoda enables data teams to take control of their data sprawl and reliably scale their infrastructure, while managing a complex data ecosystem. Issues data teams commonly face, such as lack of observability, governance, and lengthy setup and integration periods, are mitigated when companies leverage Secoda. “The explosion of data platforms over the past few years has led to a proliferation of data sources and assets. It has become increasingly important that companies not only have a full understanding of the lineage of their data from disparate sources but also harness their data to make more efficient and informed decisions,” said Jeff Fluhr, co-founder and partner at Craft Ventures. “Secoda has built a powerful AI-powered data copilot for companies to do just that. The company’s rapid growth is a testament to the strength of the team and their deep appreciation of their users’ needs.” Secoda’s AI Assistant combines the power of ChatGPT with the context of a company’s data and metadata. Data teams can leverage the AI Assistant to dramatically reduce mundane work by writing intelligent documentation in seconds, answering questions from any user about a company’s data and metadata, and automatically recognizing and tagging personal identifiable information. “We are intensely focused on addressing the foundational challenges of search in data, and generative AI is enabling us to move even faster than we expected,” said Etai Mizrahi, co-founder and CEO of Secoda. “Secoda is leveraging AI to help data teams manage complex data stacks while saving a substantial amount of time and resources. Our customers have been able to automate up to 40% of their most common data requests, cut down onboarding time for analysts by 50%, and reduce time spent on documentation by 90%. We plan on continuing to expand the functionality of Secoda AI and supercharge the efficiency of data teams.” Data teams at companies including Panasonic, Clover, Cardinal Health, Kaufland, and Vanta, use Secoda to automate data discovery, documentation, and take the grunt work out of their day. When Kaufland e-commerce experienced triple digit growth in active data users, they needed a system to make data discoverable in order for it to be used efficiently. Richard Hondrich, Head of Data and Analytics at Kaufland shared how the team used Secoda to automate data governance across over 15,000 tables: “The issue with most data catalogs is their limited functionality and inability to fit nicely within workflows. It’s a chicken and egg problem – if the data is not kept up-to-date, then the ecosystem will not be used. Secoda allows us to incorporate data governance into our existing processes without getting in the way.” To learn more about how Secoda can bridge the gap between data teams and the rest of the company, sign up for a demo of Secoda at [www.secoda.com]. SOURCE Secoda

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