Canada’s financial upstarts are lining up behind open banking, but bigger players may need convincing

February 19, 2019

Fintech welcomes competition, but big banks seem lukewarm on opening the financial system to third parties. Open banking could inject a healthy dose of competition in Canada’s highly concentrated financial services industry.

Read more in the Financial Post

Open banking offers a clear pathway to an innovative data future

December 27, 2018

Open banking is about to change the financial sector. New technology, platforms and initiatives such as the Advisory Committee on Open Banking created by the federal government show that open banking will transform the market and the way banks do business. Many see open banking as a threat; in reality, it’s a clearer pathway to digital transformation.

Read it in the Globe and Mail

As Fintechs Poke At Legacy Banking, Open Tech Developers Seek a Way In

March 28, 2018

The move to open banking is prying open big banks' budgets, as technology companies approach financial institutions threatened by the encroachment of technologically savvy rivals that are reshaping how consumers send and receive money.

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Bank on Amazon? Reporters Suggest E-Commerce Giant Wants to Handle American’ Finance

March 5, 2018

“I think there’s a lot happening with respect to e-commerce in general — particularly in regard with what Amazon’s doing with Alexa,” said Adam Nanjee, senior vice president of digital banking at the financial software company Zafin. “A lot of these initiatives are looking to connect the dots,” and integrate Amazon more deeply into people’s day-to-day lives, he said.

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January 1, 2018

At 19, he was at the University of Ottawa, looking at computers for the first time. "I was amazed and excited by what computers could do," says Somji, who graduated summa cum laude in computer engineering in 1991 and began his career at Bell Canada, where he worked in business development, sales and corporate engineering AL-KARIM SOMJI. AGE: 35; President and CEO

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Six essential steps when hiring your first employee

January 1, 2018

Wash, rinse, repeat. "Keep in mind that every hire you make also takes away a little bit of your responsibilities," notes Al Karim Somji, founder and Group CEO of Zafin, a financial technology provider.