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Canadian Tech in 100 Words

Fintech Moves Ahead of Open Banking

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Toronto-based Loop has launched direct API integrations with QuickBooks Online, Xero, and Wave, becoming the first Canadian business banking provider to build dedicated connections to the country’s three most widely used accounting platforms. The integrations replace credential-based data scraping with tokenized API infrastructure, reducing downtime, reconciliation errors, and security risks.

Founded in 2015 by Cato Pastoll, Loop provides cross-border payments and treasury tools for SMEs and raised $6.4 million in 2024. The company says the new infrastructure improves transaction accuracy and multi-currency reporting as Canada continues debating formal Open Banking rules.

Want to know more? Check out the source code on Fintech.ca.

Satellite IoT Comes to Canada

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Canada’s connectivity gap just got smaller. Rogers is rolling out satellite-to-mobile IoT tracking with Geotab, allowing businesses to monitor assets even where cell towers don’t reach. With only 18% of Canada covered by traditional wireless, industries like mining, forestry, and transport often operate in blind spots.

The new system uses low-earth orbit satellites to keep devices connected, switching seamlessly between terrestrial and space-based networks. For logistics-heavy sectors, visibility equals uptime — and uptime equals revenue. In a country defined by distance, satellite IoT isn’t a luxury. It’s infrastructure.

Want to know more? Check out the source code here.

Thomson Reuters Scales Enterprise AI

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Thomson Reuters says one million professionals across 107 countries now use its AI assistant, CoCounsel, marking a milestone in enterprise AI adoption within regulated industries. The figure spans legal, tax, audit, compliance, risk, and trade professionals.

Unlike general-purpose chatbots, CoCounsel is embedded directly within Thomson Reuters platforms and grounded in licensed legal and tax content. The company says customer data is not used to train third-party models. CEO Steve Hasker said professionals are choosing AI they trust when reputations and client data are at stake. The next generation of CoCounsel Legal is set to enter beta soon.

Want to know more? Check out the source code on LegalTech.ca.

AI Reshapes Marketing Funnel

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Salesforce says artificial intelligence reshaped holiday shopping, with AI and agents driving 20% of global orders worth US$262 billion. Yet 67% of Canadian marketing leaders report struggling to keep pace with shifting consumer behaviour.

The findings come from Salesforce’s State of Marketing report, which surveyed 4,450 marketers globally, including 250 in Canada. While 85% say AI is raising customer expectations, nearly half of Google searches now display AI-generated summaries, compressing the traditional marketing funnel. Eighty-eight percent say customers expect two-way conversations, but 87% admit running generic campaigns. Forty-four percent have yet to adapt strategies for AI-driven discovery.

Want to know more? Check out the source code here.

Neo and United Launch Co-Branded Card

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Calgary-based Neo Financial is partnering with United Airlines to launch the United MileagePlus Neo World Elite Mastercard for Canadian travelers.

Launching in April 2026, the co-branded card combines Neo’s real-time rewards platform with United’s MileagePlus program, allowing cardholders to convert everyday spending into airline miles. Benefits include priority boarding, a free checked bag on eligible flights, accelerated miles on United and Star Alliance bookings, and access to Neo’s rewards network of 10,000 partners. The launch marks Neo’s push into premium travel rewards, a segment long dominated by Canada’s major banks.

Want to know more? Check out the source code on Fintech.ca.

Bitcoin Consortium Launches Insurer

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The Canadian Bitcoin Consortium has launched Blockchain Insurance Inc., a newly licensed Alberta-based insurer serving digital asset and fintech businesses. Structured as an association-owned captive insurer, the entity is owned by its members rather than a third-party carrier. The goal is to reduce insurance costs and improve coverage access for crypto-adjacent firms.

Executive director Koleya Karringten called the move “historic,” signalling recognition that digital asset risk is now quantifiable and manageable. The company does not insure cryptocurrencies directly but provides commercial coverage for exchanges, custodians, and infrastructure providers. The launch marks a step toward institutional maturity within Canada’s digital asset ecosystem.

Want to know more? Check out the source code on Fintech.ca.

Quebec Megawatts Move to Data Centres

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Bitfarms is converting its eight Quebec crypto mining facilities into AI and high-performance computing data centres, redirecting 170 megawatts of provincial power away from blockchain and toward artificial intelligence.

The shift comes as Hydro-Québec doubles electricity rates for large data centres to 13 cents per kilowatt hour, pending regulatory approval. The utility expects provincial data centre demand to grow sevenfold by 2035. Hydro-Québec previously restricted new crypto mining projects, citing limited job creation and high energy use. Critics note AI data centres raise similar concerns. Bitfarms’ pivot signals AI may now command the megawatts once reserved for cryptocurrency.

Want to know more? Check out the source code on The Logic.

Canada Misses $66B in Startup Value

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Canada’s leading startup hubs have missed out on an estimated US$66 billion in value since 2019 due to slower growth than global peers, according to a report from the National Angel Capital Organization and Startup Genome.

The study finds Toronto-Waterloo, Vancouver, and Montreal grew at just 2.2% annually, compared to nine to 17% elsewhere. Smaller seed rounds—about 40% below comparable U.S. hubs—and longer fundraising timelines are limiting scaleups. The shortfall translates into roughly 133,000 fewer startup jobs and weaker public-market outcomes. NACO says strengthening early-stage capital is critical to reversing the cascading funding gaps.

Want to know more? Check out the source code on The Logic.

OpenAI Debated Police Warning in Tumbler Ridge

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OpenAI debated alerting police months before a fatal shooting in Tumbler Ridge, British Columbia, after a user described violent scenarios to ChatGPT, according to people familiar with the matter. The company’s automated systems flagged the posts, prompting internal discussions among roughly a dozen employees. Some staff believed the messages signaled potential real-world harm and urged notifying authorities.

OpenAI ultimately banned the account but did not contact law enforcement, saying the activity failed to meet its threshold of a credible and imminent risk. The incident highlights growing tension between user privacy and public safety as AI chatbots capture increasingly personal disclosures.

Want to know more? Check out the source code on The Wall Street Journal.

Canada Opens Door to Challenger Banks

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Canada’s banking regulator will fast-track licence applications from credit unions, fintechs, and other technology-driven firms under a 12-month pilot launching in June. The Office of the Superintendent of Financial Institutions says applicants will receive feedback within four weeks, a recommendation to the finance minister within a year, and final approval within three months. The regulator will also publish a public dashboard tracking progress.

The move aims to boost competition in a sector dominated by the Big Six banks, which hold 93% of assets. Industry groups welcomed the change, though experts warn licences still bring significant compliance obligations and oversight.

Want to know more? Check out the source code on The Logic.