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Canadian Tech in 100 Words

RBC Introduces Mobile Mortgage Renewals

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RBC is modernizing its mortgage renewal process, allowing eligible clients to renew through the RBC Mobile app in minutes. Previously, renewals required an Advisor, but growing demand for digital banking spurred the shift. RBC’s mobile user base has surged 69% since before the pandemic, with app sessions up 139%, according to SVP Rami Thabet.

The bank also launched an online mortgage application tracking platform. Janet Boyle, RBC’s SVP of Home Equity Finance, emphasized the move’s goal of reducing stress and increasing transparency. This shift aligns with broader Big Bank fintech adoption, as RBC competes with digital-first firms.

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

Cohere Faces Copyright Lawsuit from Major Publishers

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A coalition of 14 major media companies, including Toronto Star, Vox Media, and Condé Nast, has filed a copyright lawsuit against Cohere, accusing it of unauthorized use of their content to train its AI models. Filed in New York, the suit alleges massive copyright and trademark infringement and seeks damages plus an order stopping Cohere from using their work.

The filing claims Cohere’s chat tool reproduces entire articles and even fabricates content attributed to publishers. Cohere denies wrongdoing, calling the lawsuit “misguided” and defending its enterprise AI training practices. The case follows similar lawsuits against OpenAI and Anthropic.

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

TD Bank Completes Historic Cloud Migration

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TD Bank has completed a three-year cloud migration, transferring petabytes of data from legacy systems to Microsoft’s Azure cloud in one of the largest banking migrations ever. The move enhances AI capabilities, streamlines data processing, and enables faster customer insights.

The initiative, spanning 20+ business lines, involved 700 security controls and over 15 patent filings. TD’s FinOps team ensures cost efficiency in the cloud, while new AI-powered tools improve marketing, customer service, and cybersecurity. With 1,000 legacy servers decommissioned, TD now processes millions of transactions daily, positioning itself for AI-driven financial innovation.

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

Vention Unveils Turnkey Robotic Sanding System

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Montreal-based Vention has launched the Rapid Sanding Solution (RSS), a turnkey robotic sanding system designed for cabinetmaking and other industries. The system features a FANUC CRX-30iA cobot, a PushCorp sanding tool, and 3M collaboration to enhance automation.

The RSS fits into standard 120V outlets, accommodates panels from 6.5 x 7.7 in. to 36 x 90 in., and can sand up to 8 panels at once. Quebec-based Fabridor reports 31% efficiency gains using Vention’s robotic sanding. With 4,000 facilities already using Vention’s automation tools, the company continues expanding its cloud-based MachineBuilder platform for custom solutions.

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

Canada Invests $30M in BC Green Shipping Projects

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The Canadian government is committing $30 million to decarbonize BC’s marine sector, advancing green shipping initiatives along the coastline. Transport Minister Anita Anand announced the funding under the Green Shipping Corridor Program, supporting shore power infrastructure to reduce emissions.

The Greater Victoria Harbour Authority will receive $22M to install shore power at Ogden Point, creating a green cruise corridor. The Vancouver Fraser Port Authority gets $7M for Canada Place cruise terminal upgrades, while Seaspan Ferries secures $6M for shore power at four terminals. Officials highlight economic, environmental, and public health benefits.

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

Shopify Reports Strong Growth, Faces Investor Skepticism

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Shopify reported US$2.81 billion in fourth-quarter revenue, up 31.2% year-over-year, surpassing analyst expectations. Merchants sold US$94.5 billion in products, with transaction-based services driving US$2.15 billion in revenue. The company posted an operating profit of US$585 million but warned that 2025 growth would slow.

Its U.S. market contributed 64.3% of revenue, raising concerns amid trade war risks. Investors reacted negatively to Shopify’s cautious forecasts. Meanwhile, Shopify removed Kanye West’s store for selling a Nazi-themed T-shirt, calling it a fraudulent stunt. The company plans to keep its workforce stable in 2025 after prior job cuts.

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

    Clutch Secures $50M Series D, Valuation Rebounds

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    Toronto-based online car retailer Clutch has raised $50 million in a Series D round led by Altos Ventures, an early investor in Roblox. New investors Industry Ventures and BMO Capital Partners joined, alongside Flight Deck Capital and FJ Labs. The funding boosts Clutch’s valuation above $575 million, recovering from its 2023 downturn.

    CEO Dan Park noted that 2022 and 2023 were difficult years, but sees investor confidence returning. Clutch has quadrupled revenue over three years and turned profitable in 2023. The company plans to hire 100 employees as it expands operations.

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

    Toronto’s Alexi Expands with TD-Backed Funding

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    Toronto-based legal tech firm Alexi has secured a $4.5 million debt facility from TD Innovation Partners, building on its $15 million Series A round led by Drive Capital in 2023. Founded in 2017 by Mark Doble, Alexi’s AI-powered tools assist legal professionals by automating up to 80% of litigation tasks.

    The company recently launched Advanced Legal Reasoning and Alexi Enterprise, generating strong interest in the sector. VP of Finance George Taleporos emphasized the funding’s role in supporting Alexi’s North American expansion in 2025. TD’s Mark Kiyonaga praised Alexi’s leadership and product innovation.

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

    Shopify Removes Ye’s Store for Violating Terms

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    Shopify has removed an online store belonging to Ye, the artist formerly known as Kanye West, after it began selling T-shirts featuring a swastika. The controversial apparel appeared on yeezy.com following a Super Bowl ad featuring Ye. By Tuesday, Shopify confirmed it was no longer processing orders and had taken down the store, citing violations of its platform rules.

    Ye’s representatives did not respond to media inquiries. This follows Adidas’ 2022 decision to end its lucrative Yeezy partnership over Ye’s antisemitic remarks. At its peak, Yeezy products generated $2 billion annually, representing 10% of Adidas’ revenue.

    Want to know more? Check out the source code on CBS News.

    GenAI Alters Critical Thinking Practices, Study Finds

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    Is GenAI making us sharper or lazier? A study of 319 professionals found that confidence in AI leads to less critical thinking, while self-confidence boosts it. Researchers analyzed 936 real-world cases and found that AI shifts thinking toward verifying information rather than deep analysis.

    With AI taking on more workplace tasks, the challenge now is designing tools that support—not replace—critical thinking. As AI transforms knowledge work, will we become better decision-makers or over-reliant on automation?

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