One of Canada's Big Six banks quietly expands its fintech partnership program
AI-generated image · Bay Street Wire
The bank has added four new payments and lending startups to its partner API program this year, part of a broader Bay Street pattern of buying speed instead of building it.
One of Canada's largest banks has added four fintech startups to its partner API program so far this year, continuing a pattern across Bay Street of leaning on outside firms to move faster on payments and lending products.
Industry watchers say the approach reflects a broader shift: banks increasingly treat fast-moving fintechs as vendors rather than competitors, at least in areas that don't touch core deposit relationships.
The bank declined to name the newest partners ahead of a planned announcement later this quarter.