Peloton Technologies CEO Craig Attiwill says small and medium-sized businesses (SMEs), which form Canada’s economic backbone, remain underserved by traditional banks. In an interview, he emphasized fintechs’ growing role in tailoring services for this diverse sector, despite regulatory hurdles.
Attiwill called for open banking, access to central payment systems, and faster progress on real-time payments—standards already adopted in the UK, Singapore, and Australia. Without these, Canadian fintechs remain reliant on banks. Attiwill believes fintechs can thrive by focusing on niche markets and staying prepared for policy change. “There’s room for many winners,” he said.
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