From São Paulo to Toronto, startups and digital banks have been racing to meet the moment with faster payments, smarter savings, and more transparent financial experiences. And surprise — it’s working.
The price of milk led to innovation
In Argentina, inflation hit 276%. In Turkey? Over 70%. In Canada, it’s been more tame but still painful enough to make value a national obsession.
This squeeze has done something big: it made people demand more from their money. No more lazy apps. No more complicated rewards. No more waiting 3–5 business days.
Across the globe, fintechs are racing to solve the same problems:
- Faster access to cash
- Smarter savings that actually grow
- Clear, instant rewards on the money you already spend
Around the world with innovations
- Brazil’s Pix turned everyday banking into real-time magic — paying your rent is now as fast as texting.
- India’s UPI system made instant payments so seamless that even street vendors use QR codes.
- Europe’s robo-advisors are helping people beat inflation through auto-investing with just spare change.
- Africa’s mobile wallets are leading the way in low-fee remittances and micro-loans.
Inflation made people say: We need better tools now. And fintechs delivered.
Closer to Home: The Canadian Fintech Shift
Inflation in Canada hasn’t hit global extremes, but it’s been enough to shift how Canadians think about their money — and who they trust to manage it.
- 48% of Canadians now say they’re open to digital-only banks.
- Nearly 70% of Gen Z and Millennials say their primary financial relationship is with a fintech, not a traditional bank.
- And the #1 thing Canadians want from their bank? Value. Whether that’s higher interest, lower fees, or meaningful rewards.
Fintechs are stepping up — but Canada’s still catching up to global speed. Our real-time payment system (RTR) is still in development. Open banking is finally and hopefully launching soon. And regulation is just beginning to support the pace of digital finance.
We built Neo to be for this moment — modern, mobile, and built to give Canadians more for their money, especially when it feels like everything costs more.
Whether you’re saving, spending, or just trying to stretch your dollars a little further, here’s how Neo helps:
- High-interest yield savings that don’t require jumping through hoops
- Cashback on the everyday essentials that inflation hit hardest (groceries, gas, food delivery)
- No hidden fees
- A seamless, digital-first experience built for speed, clarity, and control
What’s Next: The New Normal for Financial Tools
Here’s the thing: inflation might cool. Markets might settle. But the fintech momentum it sparked? That’s not going anywhere.
You shouldn’t have to choose between innovation and trust. Or between rewards and responsibility. People have now seen what’s possible — and they’re not going back.
The future of money is:
- Instant, not delayed
- Flexible, not fixed
- Smart, not static
- Built for you, not the status quo
Inflation shrunk the value of a dollar.
Fintech rose up to stretch it further.
That tension — between cost of living and quality of tools — created something exciting: a global push for better banking everywhere.
So while inflation makes your money feel smaller, fintech is making your control over it feel bigger than ever.
