Record Canadian use of Interac e-Transfers in 2018

More than 371 million transactions worth a total of more than $132 billion

Record Canadian use of Interac e-Transfers in 2018Canadians used digital money transfer service Interac e-Transfer more than one million times per day last year. In a news release on Tuesday, Interac said it experienced record numbers in 2018 – more than 371 million transactions worth a total of more than $132 billion, representing a 54 per cent increase in volume and a…

ATB Financial net income drops by close to 45% from a year ago

Third quarter marked by challenges in the energy market

ATB Financial net income drops by close to 45% from a year agoATB Financial reports that its net income for its fiscal third quarter, which ended Dec. 31, 2018, was $51.8 million – a decrease of 44.9 per cent from the previous year. Operating revenue rose by five per cent to $427.2 million and deposits increased by 7.1 per cent to $35.9 billion. ATB said loans also…

Offering entrepreneurs the help, advice and skills they need to succeed

Chris Proctor of ATB’s Entrepreneur Centre talks about the attributes you need to make your venture shine

Offering entrepreneurs the help, advice and skills they need to succeedChris Proctor is director of the Entrepreneur Centre YYC with ATB Financial. What’s the Calgary Entrepreneur Centre and what does it do? Proctor: ATB Financial created the Calgary Entrepreneur Centre to support Alberta’s entrepreneur community. We offer a full-service banking facility with extra proficiency and expertise to help small business owners. At the Entrepreneur Centre,…

Why credit unions make sense for Albertans

Ian Burns of Alberta Central talks about the credit union system’s great history of innovation, customer service and security

Why credit unions make sense for AlbertansIan Burns is CEO of Alberta Central. What is Alberta Central and what does it do? Burns: Alberta Central is the central banking facility, service bureau and trade association for Alberta’s credit unions. We’re owned by 17 credit unions that together have more than $25 billion in system assets and serve more than 628,000 members…

Central banks’ overreach risks another recession

We need a decentralized, innovative and transparent banking system driven by free-market principals

Central banks’ overreach risks another recessionAs financial markets around the world erupt, dampening the festive spirit of this time of year, plenty of blame has been passed around. There are some notable geopolitical risks in the Middle East, Ukraine, North Korea, Pakistan and elsewhere. There’s the trade war between China and the United States. There are also signs of slowing global…

Keep the Bank of Canada out of the digital currency playing field

Central banks – try as they might – can’t create genuine cryptocurrencies and should learn to live with rising competition

Keep the Bank of Canada out of the digital currency playing fieldState digital currencies that attempt to emulate private cryptocurrencies are doomed. Not only will they fail in terms of adoption, despite having the state behind them, they will fail in terms of the objectives that drive alternative currencies. The rise of cryptocurrencies, particularly bitcoin, has caught the attention of central banks and financial regulators. Given…

Millennials face challenges dealing with inheritance

Shawnette Fraser of TD Canada Trust says its important to remember that there are emotions at play

Millennials face challenges dealing with inheritanceShawnette Fraser is district vice-president of Calgary North for TD Canada Trust. How big of a market is the millennial generation these days for Canadian financial institutions? Fraser: Millennials make up a large portion of our population, and as customer service-based business we need to be looking to how we can best support them in their…

Can we avoid another financial crisis?

We need to embrace intangible assets. And the lending world and investors need to free up funds to support intangible creators

Can we avoid another financial crisis?Could intangibles help avert the next financial crisis? Yes. And they'd better, because the train of global prosperity is about to jump the track and intangible assets are the only possible salvation. Today's headlines are depressing. There's a constant stream of negativity led by U.S. President Donald Trump's assault on the North American Free Trade…

Was the 2008 financial crisis exacerbated by official misjudgment?

Countries as disparate as Ireland, Iceland and Greece showed that misplaced financial exuberance has many pedigrees

Was the 2008 financial crisis exacerbated by official misjudgment?We were on a train from London to Edinburgh when the financial crisis erupted in September 2008. The newspaper headlines were downright lurid and the detailed stories provided little comfort. A financial catastrophe was about to descend on all of us. As relatively recent retirees, we felt particularly vulnerable. There’d be no time or opportunity…

The changing face of banking meets new consumer needs

Susan Brown talks about how BMO is developing robust and highly-secure online and mobile banking platforms

The changing face of banking meets new consumer needsSusan Brown recently retired as senior vice-president of the Alberta and N.W.T. division at BMO Bank of Montreal. Calgary’s Business: What’s your sense the Alberta economy right now? Brown: It feels like the economy is slowly healing. We’re seeing business investment return in many sectors, which is an encouraging sign that business people are more optimistic…