In a rapidly evolving digital landscape, traditional banking is being reshaped by the rise of the platform economy, where financial decisions increasingly take place outside of conventional bank channels. In his latest op-ed for The Future Economy, Mike Cook, Head of Industry Advisors at Zafin, argues that Canadian banks must go beyond simply offering products and instead embed financial capabilities into the platforms where Canadians live, work, and transact. By leveraging their core strengths, including trust, scale, and regulatory credibility, banks can become the infrastructure that powers seamless, ecosystem-driven experiences, from real-time mortgage prequalification on a real estate site to integrated financial services across digital journeys. The piece outlines how ecosystem banking can unlock relevance and growth for banks in a platform-first world and highlights the strategic shifts needed to lead, not just compete, in the future economy.
Read the full op-ed here: https://thefutureeconomy.ca/op-eds/canadian-banks-must-power-platform-economy/