Category Archives: ATM Indusrty News

ATM Industry News

ING builds analytics academy to help employees with data skills


ING is setting up an ‘analytics academy’ where any member of the Dutch bank’s staff can brush up on their data skills.

ING chief analytics officer Görkem Köseoğlu (pictured) has set his sights on building a data-driven ‘smart bank’ that uses AI to predict what customers want and need. 

Köseoğlu is busy building up a team of data scientists and analysts at his new global analytics unit, working on customer intelligence, pricing, risk management, intelligent operations and innovation.

Currently, ING employs around 80 data scientists, working on AI-projects across the businesses.

But the bank also wants to help all of its thousands of staffers become data-literate, opening the analytics academy to help bridge the gap between business and data people.

“Data is the language of the future. If you don’t speak it yet, we’ll help you master it,” says Köseoğlu.

Last year JPMorgan introduced mandatory coding courses for all employees in its asset management division


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Emirates NBD Announces Full Year 2018 Results


  • AED 10 billion Net Profit up 20% y-o-y on higher income
  • Total assets surpass AED 500 billion
  • Proposed dividend of 40%

Dubai, 16 January 2019: Emirates NBD (DFM: EmiratesNBD), a leading bank in the region, delivered a record set of results with net profit up 20% year-on-year to AED 10 billion. The Bank achieved another milestone as total assets surpassed AED 500 billion for the first time. Net interest income increased 19% year-on-year due to loan growth and an improvement in margins. The operating performance was also supported by a 22% year-on-year improvement in provisions. The Bank’s balance sheet remains healthy with a further strengthening in capital due to retained earnings, stable credit quality and liquidity. These results have enabled the Board of Directors to recommend a 2018 dividend of 40 fils per share.



Financial Highlights – FY 2018

  • Net profit of AED 10 billion, up 20% y-o-y
  • Net Interest Income increased 19% y-o-y on loan growth and an improvement in margins
  • Net Interest Margin increased by 35 bps y-o-y to 2.82% helped by rate rises
  • Total Income of AED 17.4 billion improved 13% y-o-y
  • Total assets at AED 500.3 billion, up 6% from end 2017
  • Customer loans at AED 327.9 billion, up 8% from end 2017
  • Customer deposits at AED 347.9 billion, up 7% from end 2017
  • Credit quality ratios stable with impaired loan ratio at 5.9% and coverage ratio at 127.3%
  • Liquidity Coverage Ratio of 195.3% and AD ratio of 94.3% demonstrate the Group’s healthy liquidity position
  • Capital Ratios strengthened with Common Equity Tier 1 Ratio improving to 16.6% and Capital Adequacy Ratio remained strong at 20.9%

Commenting on the Group’s performance, His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman, Emirates NBD said: “2018 marked another successful year for Emirates NBD with strong income growth leading to a record high net profit. As a leading Bank in the UAE, we pledge our support and commitment to the 50-Year Charter and the Eight Principles of Dubai announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which highlight our wise leadership’s commitment to fair governance, economic diversification, and the  well-being of present and future generations. As the official banking partner for Expo 2020 Dubai we are focused on ensuring that banking services at the exhibition are at the forefront of innovation. In 2018, we dedicated our corporate social activities to the Year of Zayed and successfully exceeded our targets. 2019 marks the Year of Tolerance in the UAE and through our continuous investment in innovative assistive technologies, we aim not only to enhance the banking experience for people of determination, but also to empower them towards independence in their day-to-day lives. Emirates NBD’s commitment to people of determination supports the ‘My Community’ initiative launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council that aims to transform Dubai to a disability-friendly city by 2020. In light of the solid performance by the Bank, we are proposing a cash dividend at 40 fils per share.”

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, Emirates NBD said: “Emirates NBD delivered an excellent performance in 2018, achieving a record annual net profit of AED 10 billion and total assets in excess of AED 500 billion. The Bank’s strong performance along with its digital focus were recognized when Emirates NBD was named the ‘Best Consumer Digital Bank’. Liv., the mobile only bank by Emirates NBD, was also named the ‘Most Innovative Digital Bank in the UAE’ for its lifestyle centred offering that has made it the bank of choice for the younger generation. We continued to expand the Bank’s international presence in 2018 by growing our branch network in the Kingdom of Saudi Arabia and Egypt. We are confident that our prudent business model shall continue to deliver a solid performance and deal with the opportunities and challenges that will present themselves.”

Commenting on the Group’s performance, Group Chief Executive Officer, Shayne Nelson said:“Emirates NBD delivered a record performance in 2018 as net profit increased by 20% underpinned by higher income and a lower cost of risk. Margins widened 35 bps in 2018 as rate rises flowed through to the loan book which more than offset a rise in funding costs. The Group’s balance sheet remains healthy with a further strengthening in capital coupled with strong liquidity and stable credit quality. We made exciting progress in advancing our digital agenda and are pleased to be named The Innovator in the Middle East at the Global Finance 2018 Innovators Awards. As part of the Bank’s efforts to keep delivering new services and products, I am pleased that we have expanded our contactless payment facilities to include Google Pay as well as launching the Emirates NBD Skywards Savings Account and Visa Debit Card, the UAE’s first banking solution to earn Skywards Miles for spends linked to savings. Going forward, I am confident that Emirates NBD will continue to deliver excellent customer service and superior value to our shareholders.”

Financial Review

Total income for the year ended 31 December 2018 amounted to AED 17,402 million; an increase of 13% compared with AED 15,455 million in 2017.

Net interest income grew by 19% in 2018 to AED 12,888 million due to loan growth coupled with an improvement in margins. The net interest margin increased in 2018 helped by rate rises.

Non-interest income declined 3% during the year due to lower income from investment securities as a result of an impairment provision on a private equity fund holding.

Costs for the year ended 31 December 2018 amounted to AED 5,620 million, an increase of 16% over the previous year due to higher staff and IT costs relating to the Bank’s digital transformation and technology refresh. Costs were also higher as a result of international branch expansion, VAT, advertising and Expo 2020 sponsorship. The cost-to-income ratio at 32.3%, remains within guidance of 33% as we invest in digital capability and product enhancement to serve our customers. 

During 2018 the Impaired Loan Ratio improved by 0.3% to 5.9%. The net impairment charge of AED 1,748 million is 22% lower than in 2017 helped by recoveries from legacy loans. This net provision includes AED 1,631 million of write-backs and recoveries, and together helped boost the coverage ratio to 127.3%.

Net profit for the Group was AED 10,042 million in 2018, 20% above that posted in 2017. The increase in net profit was driven by asset growth, higher margins and reduced provisions which helped offset an increase in operating costs.

Loans and Deposits increased by 8% and 7% respectively during 2018. The Advances to Deposits Ratio remains comfortably within management’s target range at 94.3% and the Liquidity Coverage Ratio is at a healthy 195.3%. During 2018, the Bank raised AED 8.2 billion of term funding through a mix of public issues and private placements with maturities out to thirty years. Term funding represents 10% of total liabilities.  The Bank renegotiated an existing funding facility at more competitive pricing, extending it to 2021 and upsizing it to $2 billion. 

As at 31 December 2018, the Bank’s Common Equity Tier 1 ratio is 16.6% and Total Capital ratio is 20.9%.

Business Performance

Retail Banking & Wealth Management (RBWM)

RBWM reported an operating income of AED 7,350 million in 2018, up 8% year-on-year, supported by growth in net interest income from liabilities. Fee income grew by 5% over the previous year led by Cards and FX and represents 35% of revenue.

The Liabilities book grew by AED 6.6 billion (5%) over 2017 in a challenging market, supported by strong on-ground acquisition and high visibility marketing campaigns. Customer advances rose by AED 3.4 billion (9%) during the year assisted by product enhancements and flexible interest rate pricing. Personal loan sales advanced 25% and new primary card sourcing was up 36% over the previous year with about half of new cards belonging to the premium card segment.

2018 saw the launch of the Emirates NBD U By Emaar Credit Card, offering earning and instant redemption of reward points across all Emaar outlets. The Emirates NBD Skywards Savings Account and Debit Card program was introduced, offering customers reward miles based on spends along with travel and lifestyle benefits. Priority Banking was enhanced with a pioneering tablet based retail wealth advisory service while the emerging affluent Personal Banking Beyond platform grew acquisitions by 7% year-on-year.

Liv., the country’s first digital bank for millennials, became the fastest growing bank in the UAE, acquiring over 10,000 customers every month. RBWM continued its digitization with the revamp of the innovative Fitness App, the enhancement of payment services with Google Pay and DirectRemit 60-second money transfer service was extended to the UK.

The branch network was enhanced with the opening of the first teller-less branch and two new digitally enhanced branches in Dubai, with the international footprint augmented with three new branches in KSA.

Private Banking’s double-digit revenue growth in 2018 was achieved on the back of strong client acquisition as well as an improved business mix favouring annuity-income generating products. The platform was enhanced with the addition of new products including capital-protected structured notes along with set up of ‘The LaunchPad’, a next-generation startup funding platform. 

Emirates NBD Asset Management introduced new funds that attracted healthy investor inflow and good returns in a challenging market environment while Emirates NBD Securities was consistently adjudged the best retail broker of the month by Nasdaq Dubai.

Wholesale Banking (WB)

WB delivered a strong performance in 2018 with income increasing by 18% to AED 5,851 million and net profit rising by a similar percentage to AED 4,428 million, both records for the business.

Net interest income of AED 4,587 million for 2018 was 24% higher than the previous year through a combination of increased asset volumes, notably in Trade Finance and short term lending, and improving margins driven by higher rates.  Fee income of AED 1,264 million for the year declined by 2% compared to 2017 mainly due to a slowdown in the Investment Banking activities and partially offset by a growth in non-funded income from Trade and Treasury products.

Costs were 18% higher for 2018 compared to 2017 largely due to an increase in spend on selective initiatives undertaken to reshape the business as well as an internal reallocation of costs.   As part of the Bank’s digitization programme, Transaction Banking Services is continuing to invest in technology to enhance its product offering and improve the levels of straight through processing.   

Despite the successful resolution of legacy portfolio issues which led to an increase in recoveries, additional provisions were taken during the year to improve the overall level of provision coverage.

Assets grew by 4% compared with the previous year with continued momentum in lending activity and growth in the Bank’s Trade Finance business.  Deposits increased by 5% although this growth was largely in Fixed Deposits as clients sought to benefit from higher rates.  

The strong performance of the business in 2018 reflects the continued progress of Wholesale Banking in its transformation program aiming to become the leading Wholesale Bank in the Middle East and North Africa by providing a full range of products and solutions to the Bank’s clients across the Region.

Global Markets & Treasury (GM&T)

GM&T delivered an impressive 18% growth in income to AED 921 million for full year 2018 against AED 782 million for 2017. 

The Asset Liability Management business delivered excellent results by positioning the balance sheet to take maximum advantage of an increasing interest rate environment.

Treasury Sales had a strong year in 2018 on higher volumes in Foreign Exchange due to enhanced product capability and strong traction from Institutional and Corporate Clients.

The Trading desk delivered an excellent performance despite challenging global market conditions, driven by Rates and FX and proactive risk management.

Global Funding Desk successfully raised AED 8.2 billion of term funding through a mix of public issues and private placements with maturities out to 30 years and, along with FI and Investment Banking, extended and upsized a AED 7.3 billion club deal.

Global Markets and Treasury successfully implemented an upgraded front office system, significantly enhancing its readiness for new products and services across geographies. 

Emirates Islamic (EI)

EI delivered a strong set of results for 2018 with the highest ever recorded net profit of AED 924 million, up 32% compared to last year.

EI reported total income of AED 2,463 million for 2018, a 3% increase compared to 2017. This increase is driven by higher lending activity and higher core fee income due to increased volumes of foreign exchange and credit card business. An enhanced collections drive coupled with an improved cost of risk during the year resulted in 57% lower impairments on financial assets compared to the preceding year.

EI’s total assets stand at AED 58 billion at the end of 2018. Financing and Investing Receivables increased by 7% to AED 36 billion during the year. Over the same period customer deposits remained relatively flat at AED 41.6 billion.  CASA balances represent 66% of total customer deposits. EI’s headline Financing to Deposit ratio stood at 87% and is comfortably within the management’s target range.


Oil production in the UAE rose by more than expected in H2 2018, and as a result, we have revised our 2018 estimate for real GDP growth to 2.4% from 2.2% previously.  For 2019, we expect economic activity to be underpinned by higher oil production as well as increased government spending.  We expect headline GDP growth in the UAE to reach 3.1% in 2019. The Bank will continue to implement its successful strategy built around five pillars which include delivering excellent customer experience with a digital focus, building a high performance organisation, driving core businesses, running an efficient organisation and driving geographic expansion.


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Why FIs should resolve to outsource their ATMs in 2019


By Yonas Marcos, President and CEO, Star Financial Services

Financial institutions need to have ATMs in easily accessible, convenient locations in order to retain and attract account holders.

However, due to changing technology, increasing compliance requirements and growing security risks — not to mention the upcoming migration to Windows 10 — it can be financially and operationally overwhelming for banks and credit unions to manage and maintain their aging ATM fleets.

Rather than continue to struggle through another year with terminal upgrades and updates, management and repair, many banks and credit unions might find that ATM outsourcing presents a fiscally sound and sensibly time-saving alternative to owning and operating their own fleet.

source: Star Financial Services

Judging by recent cardholder trends, the majority of financial institutions today are allocating a greater portion of their budget and human resources to the development and implementation of mobile, online and other electronic banking tools.

More often than not, this means that resources devoted ATMs and the introduction of new functionalities to serve account holders want are being stretched thin.

ATM outsourcing can reduce an institution’s overall operating costs and eliminate the challenges posed by maintaining regulatory compliance across an ATM fleet. Additionally, outsourcing can reduce stress on a bank or credit union’s limited human resources and improve customer or member service across all touch points.

What ATM outsourcing can do for your FI

Reduce operating costs — When financial institutions outsource their terminals with an ATM partner, they benefit from reduced operating costs and unlike with traditional managed services they only have one vendor to manage.

An ATM outsourcing partner should be able to consolidate all services and fees required to operate an ATM into a single monthly payment, freeing up a substantial amount of capital.

Eliminate ATM compliance challenges —One of the greatest benefits of ATM outsourcing is an institution’s ability to drastically reduce or eliminate its responsibility for maintaining compliance in ATM-related matters.

All regulatory responsibility such as upgrading or replacing terminals, installation of software patches, as well as security and fraud protection are addressed by the outsourcing provider.

Improve customer service — A financial institution’s primary goal is to stimulate growth and increase revenue by providing loans and other financial services to account holders. The location and capabilities of an institution’s ATMs undoubtedly play a key role in attracting and retaining account holders. But, outsourcing this aspect of account holder service can ensure not only that account holder needs are effectively met with improved uptime and enhanced functionality, but also that their needs across other channels are more readily met by staff freed from the distractions of having to attend to non customer-facing ATM-related tasks.

If reducing operating costs, eliminating ATM compliance headaches, and freeing up capital and human resources to focus on more customer-centric services without sacrificing ATM uptime and reliability, is appealing then make outsourcing your ATM fleet your New Year’s resolution.


Yonas Marcos is president and CEO of Star Financial Services. He founded the company in 2007 and has grown it into a nationwide financial payment services provider offering electronic and mobile payments, as well as ATM equipment, processing branding, outsourcing for financial institutions and mobile event payment.


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PayPal Appoints Deborah M. Messemer to its Board of Directors


PayPal Holdings, Inc. (NASDAQ: PYPL) today announced it has appointed Deborah (Debbie) M. Messemer, CPA, to its board of directors. Ms. Messemer has more than 30 years of experience advising public and private companies and most recently served as the managing partner of KPMG’s Bay Area and Northwest region. Ms. Messemer will serve on the audit, risk and compliance committee of PayPal’s Board. Her appointment was effective January 16, 2019.

“Debbie is a talented leader whose global perspective, strategic vision and expertise in business strategy and governance will be a valuable addition to PayPal as we continue to grow,” said Dan Schulman, president and CEO, PayPal. “The board of directors and the entire PayPal team join me in welcoming Debbie to the board.”

Prior to retirement from KPMG in September 2018, Ms. Messemer led over 3,000 team members in 10 U.S. offices across all functions, including audit, tax and advisory. She spent a large portion of her career as an audit partner or senior account executive for clients in a variety of industry sectors including financial services and technology. She has significant experience in SEC filings, due diligence, mergers and acquisitions, and internal controls over financial reporting. Ms. Messemer currently serves on the board of directors of Allogene Therapeutics (NASDAQ: ALLO) and Carbon, Inc.

“I’m thrilled to serve on the board of PayPal, a strong company that is reimagining financial services to create a more inclusive global economy,” said Messemer. “PayPal is positioned at the forefront of the global shift to digital payments and I’m inspired by the opportunity to help deliver that vision.”

Ms. Messemer holds a B.B.A. in accounting from the University of Texas at Arlington. She is a member of the National Association of Corporate Directors and a co-founder of the San Francisco Chapter of Women Corporate Directors. She has served extensively on non-profit and advisory boards including the Bay Area Council, the San Francisco Committee on Jobs, the California Chamber of Commerce, the San Francisco Chamber of Commerce, the UC Berkeley Fisher Center Policy Advisory Board, San Francisco Ballet and The Posse Foundation.

The appointment of Ms. Messemer will increase PayPal’s Board of Directors to 12 members. With Ms. Messemer’s appointment, 50% of the board is diverse.


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Andrew DeLaMare on his 2019 SAMY Win – OptConnect Blog


My initial thoughts on earning the SAMY award were “is this even a real thing?” and I was completely surprised that I would even be nominated for it!  After realizing the legitimacy of the award and the difficulty of attaining sales success on a consistent basis, I was more deeply impressed with the integrity of OptConnect for nominating me in the first place to win this recognition.


I have always felt that OptConnect was built on a team- and customer-first mentality.  From the moment I met Chris Baird, our company CEO and our original Sales Manager, Matt Warner, I learned from those two mentors that if the boss cares about people and customer service, everyone in the company will care.

That energizing culture has been a major factor in my success at OptConnect, and also in my growth as a sales professional. The SAMY award means a lot more to me knowing that OptConnect would submit my name for this award without my knowledge or involvement.  It speaks to the integrity of the team, and was the original focus that attracted me to work for such a company in the first place.

In any sales role, meeting the right person at the right time can be a factor for some to achieve success, but I have learned that consistent hard work and tactful persistence in follow up help us the most in our daily pursuits of our goals.  Ultimately, hard work and consistency have helped me stay above the board in what I am asked to do.

Each day I am excited to come into work at OptConnect, and I think considering the summary above about what sales and technology can do, it is worth noting that OptConnect is making new waves in wireless technology as we know it today.  These waves and additional investment in technology excite me and drive me to do even more to help foster that growth here at OptConnect.

I am thankful each day that I have the opportunity to be a part of a great team, and I am proud to list my name next to OptConnect’s in accepting this SAMY award.


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Touch Dynamic Integrates with MagTek For its Newest EMV Level 3 Certified Quest III Windows Tablet


by MagTek, Inc.

MagTek, a global leader in retail electronic payments and security technology, and Touch Dynamic, a leading manufacturer of all-in-one point of sale (POS) systems, small form factor PCs, rugged tablets and POS peripherals, are excited to announce Quest III, a rugged POS tablet. Quest III brings a touch screen device with EMV Level 3 certification into the marketplace.

Mobile payment applications and environments, from medical facilities to the outdoor elements of a home delivery solution, will benefit from Quest III. This rugged mobile payment tablet features WiFi and Bluetooth LE communications, a 7″ projected capacitive touch screen, and MagTek’s mDynamo, a modularized EMV card reader with an attached encrypting IntelliHead, securing both contact EMV and magnetic stripe transactions.

“Teaming up with MagTek is a perfect fit for us as we provide rugged and secure mobile payment hardware to our customers,” said Craig Paritz, President, of Touch Dynamic. “Innovative hardware design sets our products apart, and MagTek’s mDynamo supports our high standards with the highest card data security.”

“We’re truly excited to partner with Touch Dynamic in selecting mDynamo,” says Tom Coduto, Vice President and General Manager of MagTek’s OEM Business Solutions. “Mobile POS needs can vary widely in the marketplace, which is why we take pride in partnering with Touch Dynamic and their ability to meet such a broad range of needs in a compact solution with Quest III.”

Quest III advances the capabilities of accepting payments with both encrypting magstripe and contact EMV acceptance. In addition to the data security provided by mDynamo, Quest III offers low power consumption, more storage and memory, and is compatible with both Android and Windows operating systems. Behind the scenes, the dedicated teams at Touch Dynamic and MagTek offer expert integration and product support for Quest III, offering easy implementation into a merchant’s environment for a dynamic payment terminal.

To learn more about MagTek’s mDynamo, visit or stop by Booth #4173 at the NRF Convention and Expo 2019, at the Jacob Javits Convention Center, New York City, NY on January 13 – 15. To learn more about Touch Dynamic visit

Since 1972, MagTek has been a leading manufacturer of electronic devices and systems for the reliable issuance, reading, transmission and security of cards, checks, PINs and other identification documents. Leading with innovation and engineering excellence, MagTek is known for quality and dependability. Its products include secure card readers, check scanners, PIN pads and distributed credential issuing systems. These products are used worldwide by financial institutions, retailers, hotels, law enforcement agencies and other organizations to provide secure and efficient electronic payment and identification transactions.

Today, MagTek continues to innovate with the development of a new generation of security centric products secured by MagneSafe™. By leveraging strong encryption, secure tokenization, real time authentication and dynamic payment card data, MagneSafe products enable users to assess and validate the trustworthiness of credentials used for online identification, payment processing, and other high-value electronic transactions.

MagTek is based in Seal Beach, California and has sales offices throughout the United States, Europe, and Asia, with independent distributors in over 40 countries. For more information, please visit


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The “Oscars” of Immigrant Success: Nominations are now open for the RBC Top 25 Canadian Immigrant Awards


TORONTO – With more than one million newcomers coming to Canada within the next three years*, sharing and celebrating positive stories of immigrants in an increasingly diverse Canada is more important than ever.

For the last decade, the RBC Top 25 Canadian Immigrant Awards program has been doing just that — highlighting inspiring stories of immigrants who have made incredible contributions to Canada, and honouring them with the most esteemed national award celebrating immigrant success.

Since the RBC Top 25 Canadian Immigrant Awards program launched in 2009, we have received thousands of nominations, shortlisted 750 nominees and awarded 250 remarkable immigrants.

It’s Time to Nominate for the 2019 Awards!

Is there an inspiring immigrant deserving recognition that you know? Do they have a story that should be heard and honoured across Canada? Canadian Immigrant and the title sponsor, Royal Bank of Canada, are now calling on all Canadians to nominate these extraordinary immigrants at

“Our goal at Canadian Immigrant is to support newcomers integration and success in Canada. Through the RBC Top 25 Awards program, we celebrate immigrants who have achieved great things and, in turn, serve as inspiring role models,” said Margaret Jetelina, Editor of Canadian Immigrant, a national multimedia platform and producer of the awards. “Canada has always has been known as a welcoming country to immigrants, and these awards are a shining example of that humanitarian hospitality.”

Immigrants who have been honoured with this prestigious national award in the past include well-known Canadians like restaurateur/TV host Vikram Vij, acclaimed ballerina Chan Hon Goh and former Governor General of Canada Adrienne Clarkson, as well as other immigrants who demonstrated incredible contributions and achievements in their communities and for the country.

“RBC is committed to supporting newcomers in Canada and is honoured to be able to celebrate their significant contributions and successes that positively effect change in our country,” said Ivy Chiu, Senior Director, Newcomer Strategy, and RBC. “These awards not only showcase the richness and diversity that newcomers add to the fabric of our communities but also the important role they play in making Canada the success it is today and will continue to in the future.”


A nominee can be anyone who has immigrated to Canada and has since contributed to the success and uplifting of this country and its people. Achievements can be either professional or personal. Nominees must be aged 15 or older, hold landed immigrant (permanent resident) or citizen status in Canada, and reside in Canada.

Entrepreneur Award

This will be the fifth consecutive year that one of the Top 25 winners will also be selected for the additional Entrepreneur Award, honouring one of the Top 25 who has demonstrated entrepreneurial excellence in business. No additional application is required to apply for this award.

Youth Award 

For the third consecutive year, the Top 25 will include the Youth Award, which recognizes young immigrants between the ages of 15 and 30 who are making a difference through achievement and/or service, and who exhibit great potential as long-term contributors to Canada. No additional application is required to apply for this award.

Settlement Agency Award 

Canadian Immigrant and RBC are also happy to announce the return of the Settlement Agency Award. For the second consecutive year, this award recognizes the amazing work immigrant settlement agencies are doing to help newcomers integrate and succeed in Canada. Concurrent with the RBC Top 25 Awards, we are now accepting nominations for the top immigrant settlement agencies in your community at 

One agency will be selected to receive the Settlement Agency Award for 2019 after an online voting process. Last year’s inaugural winner was Vancouver-based ISSofBC, oone of the oldest immigrant-serving agencies in Canada.

Nomination Process

Nominations can be made at until February 22, 2019, 11:59 p.m. EST. A distinguished panel of judges made up of past winners will review all nominees and present a list of 75 finalists who will be announced in March, after which all Canadians can vote for their favourite nominees.

The 25 winners will be announced on June 2018 in Canadian Immigrant and online at Winners will receive a commemorative plaque and a $500 donation to a charity of their choice provided by RBC. Media partners include Toronto Star, Metro and Sing Tao.

About Canadian Immigrant

Attracting more than 400,000 readers each month and over 100,000 visitors a month online, Canadian Immigrant is a national multimedia platform to help immigrants succeed in Canada, with content, resources and events on careers, education and settlement. Canadian Immigrant is the producer of the cross-country Canadian Immigrant Fairs. Canadian Immigrant is a division of Metroland Media Group, a dynamic media company with more than 100 community and daily newspapers in print and online, as well as innovative websites including,, and

About RBC

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 84,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 16 million clients in Canada, the U.S. and 34 other countries. Learn more at‎

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at


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Markets vs. Economists: Scotiabank Economics Global Outlook


TORONTO – Global growth is moderating and coming off peaks achieved in 2017-18. This long predicted development reflects in part tightening by central banks, a natural cooling of the pace of growth, and the impacts of elevated uncertainty owing to developments in financial markets and the evolution of the China-US trade war.

“The decline in equity markets and movements in certain parts of the yield curve over the last few months suggests a clear disconnect between economic prospects as evaluated by markets and those forecast by economists,” said Jean-François Perrault, Senior Vice President and Chief Economist at Scotiabank. “As the risk landscape improves in the first months of 2019, the underlying strength and resilience of the global economy will become more apparent, and central banks that were in tightening mode will resume doing so.”

Highlights of Scotiabank’s Global Outlook include:

  • Canada: Growth is expected to slow modestly to 1.8% during 2019 before rising to 2.0% in 2020.
  • United States: U.S. economic growth is forecast to slow to 2.4% in 2019, before slowing further to 1.7% in 2020.
  • Mexico: Policies implemented thus far by the new government have led to a markdown in growth to 1.6% in 2019, with growth expected to rebound to 2.3% in 2020.
  • United Kingdom: We assume a hard Brexit is avoided, allowing the UK economy to grow by 1.5% in 2019 and 2020.
  • Latin America: Growth is expected to accelerate or remain quite strong in Peru, Colombia and Chile.
  • China: China’s economic growth continues to slow on the back of a trade dispute with the US, authorities’ deleveraging efforts, and ongoing structural changes in the economy.

Read Scotiabank’s Global Outlook online at: Markets vs. Economists.

Scotiabank provides clients with in-depth research into the factors shaping the outlook for Canada and the global economy, including macroeconomic developments, currency and capital market trends, commodity and industry performance, as well as monetary, fiscal and public policy issues. Follow this research on Twitter at @ScotiaEconomics.

About Scotiabank

Scotiabank is Canada’s international bank and a leading financial services provider in the Americas. We are dedicated to helping our more than 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 97,000 employees and assets of $998 billion (as at October 31, 2018), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank


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ANZ to serve up more financial wellbeing at the Australian Open


Each ace will help improve the financial wellbeing of one more Australian through ANZ’s partnerships with The Benevolent Society, Berry Street, Brotherhood of St Laurence and The Smith Family.

ANZ Head of Financial Inclusion Michelle Commandeur said: “ANZ wants to help more people get on top of their money and financial wellbeing is a big contributor to this.

“Financial wellbeing is just as important as mental, physical and emotional health and it allows people to fully participate in their community. We’re proud of what we are able to deliver through our MoneyMinded program to help Australians make informed decisions about how to manage their money.”

Single mum Danielle was living week to week prior to participating in MoneyMinded and said the program helped improve her financial wellbeing: “It has turned my relationship with money around and spurred me to save for my family for the very first time.

“Since completing the program I finally have the motivation to get out of debt and start saving. I no longer dread the thought of managing my money, and feel more in control of my finances.”

Ace the Open will recognise every ace served by every player across all courts at the Australian Open including singles, doubles, mixed, wheelchair and juniors.

ANZ will also extend Ace the Open with pop-up courts stationed in Melbourne, Sydney and Brisbane for members of the public to get involved with $1 from every ace they serve added to the overall tally.

ANZ will donate a minimum of $100,000 through its Ace the Open program to help improve the financial wellbeing of the nation.

To learn more about ANZ’s MoneyMinded program visit moneyminded/


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