Terranova Advisors

Exciting Partnership Announcement: Matera and Terranova Advisors Join Forces in Canada! 🎉 We are thrilled to announce a dynamic partnership between Matera (https://matera.com/) and Terranova Advisors (https://lnkd.in/e4eu6yx4), which aims to deliver unparalleled value and innovation in Canada's financial services landscape. As leaders in our respective fields, Matera and Terranova Advisors bring a wealth of expertise and a shared commitment to excellence. This collaboration merges Matera's cutting-edge solutions, such as their high-performance ledger and QR Code solution that streamline and reduce the cost of money transfers, with Terranova Advisors' strategic operating partners and growth enablers. Together, we guide Canadian FinTechs and Banks through transformational journeys, taking them from their current state to a future state of success. This journey emphasizes critical areas, including customers, capability, capacity, capital, and compliance, and is powered by Terranova's accelerator program, Terranova Launch™. Together, we are poised to define success for financial services in Canada, empowering them with the tools and insights needed to shape Canadians' financial future. We invite you to join us on this exciting journey as we embark on a new era of collaboration, innovation, and success. Follow our company pages to keep updated on how Matera and Terranova Advisors are transforming the Canadian financial services landscape together! Visit our websites to learn more and book a call! Matera: https://matera.com/ Terranova Advisors: www.terranova-advisors.com #partnerships, #Innovation, #canadianbusiness, #matera, #terranovaadvisors, #paymentscanadasummit2024, #paymentsmatter, #fintech, #digitalpayments, #neobanking

Going to the Open Banking Expo tomorrow in Toronto? 💡 Discover how to align regulatory expectations, meet technology requirements, and enhance the customer experience to drive financial empowerment for Canadians. We are excited about tomorrow because our team is accelerating growth for FinTechs and Challenger Banks in Canada. Doug Woolridge, Managing Director of Terranova Advisor, will attend the Expo tomorrow. Connect with him via the app or book a meeting to learn more. #openbankingexpo, #challengerbank, #fintech, #openfinance, #terranovaadvisors, #canadianfinance

Day 2: Payments Canada Summit 2024 Fathom4sight breakout session - (Jeet) Surinderjit Kaur Bhatti The discussion centred around the current state of FinTech in Canada, including key trends, statistics, and advancements in payment technology. Jeet examined the innovations in banking and finance catering to newcomers, the re-bundling trend in financial services, and the growing importance of ESG activation and emerging technologies like AI. Real-time insights and ESG considerations were also crucial in the financial services sector. ⚡ ⚡ Lessons Learned: 1. Potential risks related to new business models like Banking-as-a-Service (BaaS): Jeet shared that the bankruptcy of a BaaS provider in the US called Synapse impacted millions of customers. This highlightes risks related to regulatory oversight and executive management of new fintech business models. 📔 Takeaways 👉 Consider testing AI and data solutions with FinTech. 👉 In Canada, how can we adopt the Nova Credit product to help newcomers establish credit histories? 👉 Evaluate opportunities in the embedded finance/banking-as-a-service space. 👉 Raise awareness of open banking to help rebuild consumer trust when it launches. #terranovaadvisors, #paymentsmatter, #canadabusiness, #smallbusiness, #newcomerscanada, #BaaS, #fintech

Day 2 Payments Canada Summit 2024: Open banking to open finance: empowering the financial future of Canadians. - Michelle Beyo, Thierry Sébastien Battistini, Victoria Clark, Abdi H., Bhavna Kaushal The panel discussed the evolution of open finance and payment modernization globally. They emphasized the importance of interoperability, data protection, and consumer consent in implementing open finance. 📔 Takeaway: The potential benefits of open banking include improved customer experience, real-time quotes, and tax loss harvesting. However, a regulatory framework is necessary to support fintech innovation and for banks to adapt to the changing landscape by providing more than traditional banking services. 💡 Insights:   1. Open banking adoption has needed to be faster in some markets like Mexico due to the regulations needed to address critical elements like interoperability, liability, consumer consent, and data protection. 2. In Canada, small businesses and startups face difficulties getting loans due to a lack of access to business data and a slow adjudication process. Open finance could help address this issue. 3. For open banking and open finance to be successful, issues around security, consent, and consumer protection need to be addressed upfront. 👉 Action Items: 🔥 Advocate for precise dates and timelines in the upcoming consultation on Open Banking framework. 🔥 Explore the idea of an accredited third-party provider logo to build consumer trust. 🔥 Consider positive data sharing, like credit reporting in Brazil, to expand access to financial services.

It is conference season, and while many are in Europe attending #Money20/20 here in Canada at Terranova, we are reflecting on the jam-packed 3 days of discussion at PaymentsCanadaSummit. Over the next 3 posts, we share a few insights. Day 1: Behavioural science re: drivers of money behaviours - Michelle Hilscher, Ph.D., BEworks We heard about decision-making in financial contexts, including the Goldilocks effect, fraud prevention, long-term relationships, and confirmation bias. Michelle emphasized the need for a comprehensive approach to decision-making and highlighted the limitations of traditional consumer research methods. 📔 Takeaway: Understanding human decision-making in digital payments and leveraging behavioural science to create savings apps that empathize with users' future selves is essential. Experiments were discussed to observe real-world behaviour and identify areas where policy interventions can be improved. 💡 Insights: 1. Credit card fraud notifications project: Customers were not responding to SMS fraud alerts, calling in unnecessarily, and being suspicious of alerts. The main barriers were lack of trust, lack of urgency, and present bias. 2. Retirement savings app project: The main barriers were present bias and satisfaction—people focus on the short term, see their future self as a stranger, and feel their current situation is "good enough." 3. Pension payments project in Kenya: Unpredictable income makes habitual saving difficult. The main barriers were present bias and the need for tangibility of digital money. #terranovaadvisors, #paymentsmatter, #canadafinance, #smallbusiness, #challengerbank

The Payments Canada Summit is where the best minds in payments join to connect and collaborate. Our Managing Partner, Doug Woolridge and Chief Revenue Officer, 🔹 Dagmar M. are looking forward to connecting with industry leaders, innovators and challengers. #paymentsmatter #terranovaadvisors #financialservices #accererator #terranovalaunch #smallbusiness #fintech #financialservicescanada

Many vital discussions and use cases were shared at the Bankers Summit yesterday in Toronto, Ontario, Canada! One of the panel discussions that stood out was about unleashing new financial products. The conversation centred around the future of financial services, focusing on understanding customer needs and preferences. The panel emphasized the importance of balancing innovation and regulatory compliance and discussed the potential of digital products to revolutionize financial services. There is optimism about the future of technology in FinTech, and EQ Bank shared its unconventional approach to banking by addressing customer pain points. All agree on the need for a strategic approach to regulatory compliance and innovation in financial services. Takeaways: 1. Test Gen AI for customer service in a controlled way, focusing on publicly available data. 2. As strategic partners, bring regulatory/compliance teams into product development early. 3. Apply startup principles of starting small and testing quickly to innovation in large banks. Thank you, Gary Schwartz, Luna Besaiso for a well-organized day, brilliant attendees and discussions, and the most delicious lunch!! #canadianlendersassociation #canadianbusiness #fintech #challengerbank #innovation #customer #terranovaadvisors

Big things ahead for the Canadian Fintech ecosystem! 🌟 The team is excited to attend the Bankers Summit in Toronto tomorrow! What a lineup of speakers. Let's connect! #BankersSummit hashtag #TerranovaAdvisors hashtag #Fintech hashtag #CanadianBusiness #Toronto #Canadianlendersassociation

Able Innovations is excited to announce that we will be showcasing our innovative ALTA Platform® at the 2024 LSI Emerging MedTech Summit in Dana Point, California from March 18-22! This premier event brings together the brightest minds in medtech innovation, investment and strategy to drive the future of healthcare forward. As a presenter, we look forward to engaging with fellow pioneers who share our vision of transforming patient and frontline staff outcomes through technology. The LSI ecosystem fosters invaluable connections and insights needed to build breakthrough medtech businesses. If you are attending the Summit, we welcome you to visit us to see live demos of our ALTA Platform®! #LSI #MedTech #LSIEmerging #Summit #Conference #Innovation #Tech #Robotics #SafePatientHandling