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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to their often more tech-savvy children, the industry’s traditional products and services are increasingly considered outdated.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

Featured, IOT, Security

Interac: Canadian entrepreneurs are embracing the nine-to-thrive

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Business use of Interac e-Transfer climbs 25 per cent year over year as Canadians seek to turn their passion into profit TORONTO, Sept. 21, 2023 /CNW/ – As more Canadians take on side hustles to earn additional income, a recent survey from Interac Corp. reveals a ‘nine-to-thrive’ effect taking place. While the initial motivation to launch a side hustle is often financial, more than half (55 per cent) of those surveyed say that it turned out to be more fulfilling than expected, with three quarters (76 per cent) intending to continue their side hustle alongside their main job, and almost two in 10 (17 per cent) planning to go all in, turning their passion project into their career. The satisfaction entrepreneurs experience in their side hustles is linked to the achievement of key milestones. The Interac survey shows that some take pride in that memorable first sale (22 per cent), while for others it’s achieving their first profit (25 per cent) or paying a salary for the first time (23 per cent). Interac e-Transfer® plays an important role in supporting these milestones – nearly two thirds of these entrepreneurs polled (62 per cent) use the service for business-related payments, contributing to 25 per cent transaction volume growth year over year. “Entrepreneurs have long been, and will continue to be, a driving force of Canada’s economy, yet we are hearing that almost half of those polled say they have had challenges accessing financial tools, tracking finances, and generally finding the advice or information they need to start or grow their business,” said William Keliehor, Chief Commercial Officer, Interac Corp. “We launched the Interac ‘From Dollar One’ hub to help bridge this gap and provide the resources entrepreneurs are asking for from their first dollar and beyond.” The Interac survey extends beyond those with a side hustle to also include freelancers and small business owners with up to four employees. Key findings about these groups of entrepreneurs include: Startup surge: Nearly half of Canadian entrepreneurs (46 per cent) said an increasing number of people in their personal networks have started a side hustle in the past year, and four in 10 (40 per cent) are currently considering at least one other idea for a new venture. The means to succeed: New business owners feel they lack the financial confidence and knowledge necessary to successfully grow their business when first starting out. Only 15 per cent of Canadian entrepreneurs had high confidence in their abilities to manage their business finances from day one. Nearly half of entrepreneurs (49 per cent) had challenges in finding the right information or advice for growing their business, lacked financial confidence or access to financial tools, and had trouble tracking finances. “As more Canadians transform their passion into a small business either full time or alongside their day-to-day jobs, Interac e-Transfer has grown rapidly in lock step,” said Anurag Kar, AVP, Money Movement Products, Interac. “Since many entrepreneurs already have the confidence of using the service as a consumer, they have quickly recognized it as an easy, efficient way to pay and be paid. Interac e-Transfer has been a payment option that eases the pain points that they face.” The Interac From Dollar One hub includes tips on building financial confidence and how to avoid burnout alongside practical instructions on the role Interac products, like Interac e-Transfer, can play in meeting a business’ key milestones. Advice offered to business owners within the hub includes: Pay and get paid—fast: Whenever possible, streamline and simplify the payments process. Set up Interac e-Transfer Autodeposit, so when you get paid, funds are deposited quickly and securely into your account. Maximize your payment methods: Over a third of entrepreneurs (35 per cent) said being able to accept and use Interac e-Transfer helped boost their financial confidence in managing a growing business. Additionally, half of businesses polled that use Interac® Debit (52 per cent) said they prefer it as a payment method for their business because it is a convenient way to pay. Not far behind that, two in five (43 per cent) cited safety and security as a key reason for preferring Interac Debit to make business related payments. Stay in charge of your small business: Pay attention to agreements and payment terms to avoid late penalties that could hurt your bottom line. Tracking payments and using your own money with Interac Debit or Interac e-Transfer can help avoid surprises at the end of the month, from extra fees or forgotten purchases. For more key tips and advice, visit the From Dollar One Hub at interac.ca/dollarone About the Interac survey The Interac survey was conducted among 500 Canadians entrepreneurs, a sample comprised of 362 side hustlers (i.e., do work outside of their primary employment), 82 small business owners (with 0 to 4 employees), and 56 freelancers. The survey was fielded by CICIC Research from August 9th to 16th, 2023.  The length of the survey was 10 minutes. The final sample was a result from natural fallout of a general population sample of Canadian adults weighted on age, gender, and region according to 2021 census figures. An associated margin of error for a randomly selected sample of n=502 would be ±3.8%, 19 times out of 20. About Interac Corp. Interac empowers Canadians to transact digitally with confidence by providing payment and value exchange services. In helping to develop the future of money and data in Canada, security is the core of everything we do. We help keep Canadian customers safe and secure when transacting. With nearly 300 financial institutions connected to our network, Canadians choose Interac products over 20 million times a day on average to exchange money. Interac champions workplace culture, community, and corporate citizenship. We are proud to be one of Canada’s leading and most trusted financial brands. For more information, visit our website. Interac is a registered trademark of Interac Corp. SOURCE Interac Corp.

Apps, Featured, Start ups

Homebase Bets Big on Canadian Tech Talent

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Leading hourly team management app invests in Canadian tech talent, doubling its local workforce (+104%) in the past year against a backdrop of volatility in the technology landscape. Company adds Canadian leaders to its Executive Office, including Chief Marketing Officer, Candy Lee, and Chief Technology Officer, Oliver Fisher, who together bring strategic expertise from Shopify, HelloFresh Canada and FreshBooks. Further strengthening product development capabilities, Homebase also welcomes VPs of Engineering Andrea Corey and Alamelu Radhakrishnan, bringing product development expertise from Freshbooks, Loblaw Digital and Shopify. Homebase also opened its first-ever Canadian outpost this month, with an 8,000 sq. ft. office located in downtown Toronto. TORONTO, Sept. 14, 2023 /PRNewswire/ — Homebase, the all-in-one team management app that helps more than 100,000 local small businesses manage their hourly teams, makes big waves by investing in the Canadian technology industry. In the past year, the company has more than doubled its full-time workforce in Canada (+104%) and opened its first-ever office in downtown Toronto. Homebase has also supercharged its Executive Office with new, seasoned Canadian leadership, including Chief Marketing Officer, Candy Lee, and Chief Technology Officer, Oliver Fisher. Having held previous leadership roles at Shopify, HelloFresh Canada and Freshbooks, both Lee and Fisher bring deep expertise and strategic insight into growing and scaling big brand SaaS companies that serve small businesses and consumers. This investment is a strong signal of Homebase’s commitment to growth against the backdrop of an otherwise volatile technology sector. Beyond the Canadian team, the company has also grown headcount in the past year in the U.S. and beyond. Toronto is the newest Homebase office, joining other locations in San Francisco, Houston and Denver. “With our new leadership, Homebase is set firmly on a path to scale our business to new heights, and supercharge our product to help small business teams work better than ever. Our people make Homebase what it is and our growing Canadian team is critical to unlocking our potential to provide an unbeatable experience for local businesses,” said Homebase Founder & CEO, John Waldmann. Prior to joining Homebase, at HelloFresh Lee helped scale the subscription business multiple times over, nearly doubling revenue in her first year while securing a hard-fought market leadership position ahead of long-time competitors. Lee is committed to helping accelerate the trajectory of Homebase to empower the +100k small businesses on the app to make work easier. “Main Street businesses have traditionally been ignored by technology providers, so I’m thrilled to work with the team to rewrite the script and put great tech in the hands of unstoppable local businesses,” said Candy Lee, Homebase CMO. Furthermore, Fisher led international expansion efforts at Freshbooks and also helped grow Google’s Safebrowsing team in Montreal. As Director of Engineering at Shopify, Fisher also helped launch Shopify Capital to provide seamless liquidity to merchants based on their existing sales, impressively growing the business rapidly in about one year. “I’m incredibly excited to shape a lasting company that’s making an impact by driving small business growth,” said Oliver Fisher, Homebase CTO. “I’m focused on building a world-class engineering team that will enable us to develop features that serve customers faster and more efficiently. Establishing engineering talent in Canada is a key part of that strategy,” said Fisher. As growth and innovation remain core to Homebase’s mission, the company also welcomes two additional expert leaders with deep product development experience. Andrea Corey, with more than two decades of experience designing systems to scale at startups, including Freshbooks and Eloqua joins as VP of Engineering, Platform Engineering. Additionally, Alamelu Radhakrishnan, former Chief of Staff to Shopify CTO, rounds out the new leadership as VP of Engineering, Product Delivery. About Homebase:Great businesses are built on great teams. Great teams run on Homebase. Homebase makes work easier for 100,000+ small (but mighty) businesses with everything they need to build unstoppable hourly teams: employee scheduling, time clocks, payroll, team communication, hiring, onboarding, and compliance. Just don’t call us “Human Capital Management.” We’re an all-in-one team management app built for busiest businesses, so owners and employees can spend less time on bullsh*t and more time on what matters.To learn more, visit joinhomebase.com

AI, Featured, Security

K-12 Teachers Say Classroom Models Need to Evolve to Prepare Canadian Students for the Future

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Only half of teachers surveyed in Canada say students are taught in ways that are relevant to the skills they need for the future, according to new survey from Microsoft TORONTO, Sept. 13, 2023 /CNW/ – As a new school year begins for millions of Canadian students, teachers across the country say it’s time to embrace new teaching models to better align with the realities, opportunities and challenges of today’s classroom and tomorrow’s workplace. In a new survey from Microsoft of over 500 Canadian teachers and school leaders, most said schools need to do more to adapt to the evolving needs of students. Teachers are calling for changes that make classrooms more engaging, inclusive and relevant for a new digital era. New models for a new era of digital innovation Teachers across the country say it’s time to embrace new teaching models. (CNW Group/Microsoft Canada Inc.) From AI to interconnected smart devices, teachers recognize that the rapid pace of technological innovation is changing the workforce students will be joining, but few classrooms are teaching the skills students need to succeed in the new digital world. In fact, ninety percent of teachers surveyed agree it’s important to teach students the digital skills they’ll need for modern life, but only half of teachers (52 percent) say students are taught in ways that are relevant to the skills they need for the future. Strikingly, the survey revealed an overwhelming majority of teachers (79 percent) felt data literacy and digital citizenship were essential skills for today’s students, but these topics were only taught in 22 and 53 percent of classrooms respectively. While teachers have just begun to consider the implications of AI in education, 41 percent of teachers believe that students should learn about generative AI to better equip them for life outside school and in their careers. That number rose to 50 percent among teachers of grades 7-12. “It’s crucial that we listen to teachers so we can better empower students in their learning and be prepared to contribute to Canada’s economic future” said Elka Walsh, Associate Vice President, Learning & Teaching, at Microsoft Canada. “We have a responsibility to address these gaps, reignite a love of learning, and help students thrive in a digital world.” Digital tools more prevalent since the pandemic, but not used effectively For many teachers, the pandemic spurred the adoption of digitally enhanced learning in the classroom. Eighty-two percent of teachers surveyed said their school’s use of digital tools started or increased with the pandemic. But only 35 percent of respondents said most teachers are equipped with the best digital tools to help them teach and a similar number (34 percent) said teachers receive the training needed to use these tools effectively. Six out of ten respondents said teaching methods should change to make the most of these tools. Among the most promising use cases for teachers, according to the survey, was time management. Eighty percent of teachers agree they need more tools to help them manage their time more productively – an unsurprising stat given that 86 percent of teachers rate their workload as high or very high. The results also indicated a clear difference in approach to technology in the classroom between those schools with an established sustainable digital strategy and those without. When asked if students were more engaged when digital tools are used in the classroom, three quarters of respondents with a digital strategy agreed. Among teachers in schools without a digital strategy, fewer than half agreed technology helped to increase engagement. Engagement and inclusion need a boost It is apparent that teachers are struggling to keep students engaged, particularly when faced with the emotional and wellbeing challenges related to the pandemic. Only half of teachers surveyed (51 percent) said students are taught in ways that engage them and keep their interest and only a third (35 percent) agree schools are succeeding in helping to address students mental and emotional wellbeing. Today’s teachers know inclusion and accessibility is crucial to help every student reach their potential. Ninety-five percent said inclusive and accessible teaching resources are somewhat or very important. But only 48 percent say current teaching methods are inclusive and only 46 percent feel students are taught in ways that are responsive to their individual needs. Teachers also want schools to do more to address the mental and emotional wellbeing of students (74 percent) and feel students are still emotionally challenged by the disruption of the pandemic (72 percent). “Canada’s teachers are telling us we need revitalized learning models so their students don’t get left behind” said Marc Seaman, Vice President, Education Segment for Microsoft Canada. “New models are critical to improve outcomes for all students and prepare them for the digital future.” Building on decades of work with policy makers, school leaders and educators around the world, Microsoft is committed to teacher and student success. Microsoft is innovating to deliver tools and resources to educators that are responsive to student and teacher needs, supporting inclusive and accessible learning environments. Through programs like Showcase Schools, Microsoft collaborates with schools in Canada and worldwide to demonstrate what’s possible to transform learning and deliver sustained results for students. Microsoft also offers free curated learning to help instructors adopt new digital tools and design inclusive learning. Visit Microsoft.com/education for more information. About the FUSE Insights SurveyThese results are taken from a survey of 503 teachers from across Canada. The survey was delivered online, in English and French, between 1st and 8th June 2023; and covered a cross section of teachers by geography – 39 percent are in Ontario and 29 percent in Quebec, 12 percent are in BC, 15 percent in the Prairies and 8 percent in the Atlantic provinces – and grade. Of the 503 teachers who completed the survey, 493 (95 percent) teach students themselves, and the respondents also included 20 school administrators, principals and vice-principals. 88 percent of respondents to the survey work at public schools and the remainder in private schools; a little over a third (37 percent) of teachers who completed the survey teach Kindergarten to grade 3, a quarter (26

Featured, IOT, Start ups

Equiton Expands and Opens New Downtown Toronto Location in the Financial District

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TORONTO, Sept. 12, 2023 /CNW/ – Equiton, a Canadian private equity firm, expands with a new office in Toronto’s financial district, reaffirming its commitment to better serve its existing and prospective investors. Equiton’s Toronto office is at 333 Bay Street (CNW Group/Equiton) Equiton’s decision to establish a downtown Toronto location is a step forward in the firm’s growth trajectory. This decision, along with the head office in Burlington, highlights the real estate equity firm’s commitment to delivering exceptional investment solutions and cultivating strong relationships with investors and stakeholders within the financial community. The selection of Bay Street as Equiton’s secondary office location further underscores the dedication to these principles. “We are pleased to establish our footprint in the downtown Toronto financial district,” said Jason Roque, CEO of Equiton.” This strategic expansion is evidence of our dedication to serving our investors at the highest level. Being located in the key financial hub in the country allows us to connect even more with our current clients and extend our reach to potential partners interested in our investment solutions.” As Equiton continues to excel in offering investors access to a diversified range of real estate investment opportunities, its client-centric approach and track record of delivering steady and competitive returns have positioned it as a trusted partner within the investment landscape. The Toronto office is at 333 Bay Street and occupies a prime position at Bay and Adelaide. This location will be a central point for an experienced group of real estate investment experts. Covering a range of specialized areas, including Sales, Institutional and National Accounts, Acquisitions, Construction, and Development, these experts are well-prepared to offer professional advice and custom solutions to potential investors to maximize their investment opportunities. For further information about Equiton and our investment solutions, visit www.equiton.com About Equiton Proudly Canadian-owned and operated, Equiton is a leading private equity firm that delivers notable returns for investors. We believe in making private real estate investing accessible to all Canadians and providing easy access to all types of investment-grade real estate through our proven high-performing investment solutions. We offer true diversification, full transparency, and all the benefits of real estate investing without the difficulties of financing, tenant management, building maintenance or project management. SOURCE Equiton

Featured, Fintech

Swoop and Sage Unveil Global Partnership to Revolutionize Business Funding and Cost-Savings Solutions

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Key details:  Access to finance is one of the main barriers to growth for small to medium sized businesses globally as highlighted by The Sage Foundation. This partnership aims to overcome this barrier and provide access to funding for businesses globally. Sage accountants benefit immediately with a discounted price of the Swoop for Advisors platform, which allows accountants and business advisors easy access to grants, equity investment, traditional and alternative loans, and business savings for their clients to help them grow. Swoop users can also integrate their Sage Intacct and Sage Business Cloud Accounting software to uncover financial insights, unlock business savings, and access financial tools such as cash flow forecasting. TORONTO, Sept. 29, 2023 /PRNewswire/ — Swoop, a fintech company specializing in funding solutions and Sage, the leader in accounting, financial, HR, and payroll technology, are excited to announce their global partnership aimed at helping businesses and accountants access a wide range of funding opportunities. The partnership will also help identify opportunities to reduce business costs in areas such as energy, banking and foreign exchange, providing a significant impact on the bottom line. By integrating their Sage accounting software once, businesses can identify more accurate funding opportunities, streamline the funding process, unlock business savings, and benefit from tools such as cash flow forecasting. In today’s dynamic economic landscape, businesses often face challenges in securing the financial capital they need to grow and thrive. Research conducted by the Sage Foundation has highlighted that the lack of financial resources remains one of the most significant obstacles businesses encounter on their journey to success. Recognizing the importance of overcoming this challenge, Swoop and Sage have joined forces to simplify and expedite the process of accessing vital funding for businesses and their trusted advisors. This innovative partnership will enable advisors and businesses around the world to effortlessly explore and tap into various funding options that suit their unique needs. In a groundbreaking first step, underserved, black female founders in Atlanta are among the first to benefit from the partnership with Swoop and Sage’s involvement in the BOSS Network. This comes in response to a Sage report revealing systemic barriers hindering their access to capital and resources essential for achieving sustainable growth. Enabling financial success: funding solutions for businesses and accountants Navigating the complex landscape of funding opportunities can be daunting for businesses. The partnership aims to bridge this gap by providing a user-friendly platform that connects businesses and accountants with the financial resources they require. The global partnership brings a wide range of funding opportunities for businesses, including grants, loans, and equity investments, whilst streamlining the application and approval process. Trusted advisors, such as accountants and financial professionals, will also benefit from this partnership, gaining the tools and resources to guide their clients effectively through their funding journeys. “In a world full of fluctuations, with inflation and interest rates on the rise, businesses are facing unprecedented challenges, so it is important to make business finance more accessible and less daunting,” said Chip Mahan, Global Commercial Head, Fintech, Payments & Banking at Sage. “This partnership with Swoop aligns perfectly with our mission and will make accessing essential financial capital quick and easy, ensuring businesses have the support they need to succeed.” Andrea Reynolds, CEO of Swoop, echoed these sentiments, stating, “We are thrilled to partner with Sage to bring our funding expertise to businesses and advisors worldwide. Together, we will simplify the path to financial empowerment for businesses of all sizes.” Micheál Martin, Tánaiste (Deputy Prime Minister) and Minister for Foreign Affairs, Ireland, said: “I am delighted to acknowledge both Swoop and Sage in the development of an effective funding platform for the small and medium enterprise sector. The innovative combination of the advanced technology platform of Swoop combined with Sage’s globally recognized cloud-based accounting software will provide great assistance to company leaders as they look to funding options.” The partnership marks a significant step towards levelling the playing field for businesses and underscores their importance in driving global economic growth. With this collaboration, the future looks brighter for entrepreneurs and businesses worldwide. About Swoop: Swoop is a global fintech company specializing in funding solutions for businesses. Swoop’s platform connects businesses and advisors with the right funding options, streamlining the application process and saving them time and money. Swoop is committed to helping businesses thrive by making funding accessible and hassle-free. About Sage: Sage exists to knock down barriers so everyone can thrive, starting with the millions of Small and Mid-Sized Businesses served by us, our partners and accountants. Customers trust our finance, HR and payroll software to make work and money flow. By digitising business processes and relationships with customers, suppliers, employees, banks and governments, our digital network connects SMBs, removing friction and delivering insights. Knocking down barriers also means we use our time, technology and experience to tackle digital inequality, economic inequality and the climate crisis.

Featured, Fintech, Start ups

Wealthsimple set to become first securities dealer to join Interac e-Transfer service

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TORONTO, Sept. 27, 2023 /CNW/ – Wealthsimple, the financial services company on a mission to help Canadians achieve financial freedom, today announced it has secured provisional approval to join the Interac e-Transfer® service as a participant. Wealthsimple will become the first securities dealer to join the service. While the company currently offers Interac e-Transfer services for Canadians, becoming a participant will greatly expand those services, offering clients the same experience moving money as they would expect at a bank or credit union. An example of Wealthsimple’s managed investing product. (CNW Group/Wealthsimple) “For nearly 10 years, we’ve been breaking down barriers for our clients through simple, transparent financial products, earning the trust of millions of Canadians in the process,” said Michael Katchen, Wealthsimple CEO. “Joining the Interac e-Transfer service is both a milestone for the company, and also a sign of our commitment to being a leader in Canadian financial services.” Wealthsimple facilitates millions of transactions each month into and out of its platform, and between its products. As a member of Payments Canada, Wealthsimple recently secured approval for a settlement account with the Bank of Canada, granting it direct access to the pending Real-Time-Rail payment system. “Canadians used the Interac e-Transfer service to complete over a billion transactions in 2022. By broadening access to an expanded category of financial institutions, Interac is focused on enabling Canadian consumers and businesses to transact with confidence and leverage new innovative service offerings,” said Jeremy Wilmot, President & CEO at Interac. “I’m thrilled that Wealthsimple is set to join over 280 financial institutions in allowing customers to send, request and receive money between accounts using the Interac e-Transfer service.” Participation in the Interac e-Transfer service will unlock the potential for product innovation, an area where Wealthsimple has repeatedly proven itself. The company was the first to offer commission-free trading of stocks and ETFs; fractional shares of US and Canadian securities; regulated cryptocurrency trading and staking; a Shariah-compliant ETF; private investing opportunities for retail investors, eligibility for up to $300,000 in CDIC deposit insurance; and more. Wealthsimple serves more than three million Canadians and holds over $20 billion in assets. Its easy-to-use platform provides access to managed investing, self-directed trading, cryptocurrency, spending, saving, and tax filing services. Wealthsimple’s straightforward, educational approach to finance has led one-in-five Canadians under the age of 40 to trust Wealthsimple with their money. SOURCE Wealthsimple

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