FinTech Guide Chapter 9 Canada
The social and political climate in Canada is favourable to these types of services.
There are no special requirements (including licenses) required to offers these services.
In 2015 the Information and Communications Technology Council (ICTC) indicated that Canada’s big data service market was valued at $1.5 billion annually on the software side alone and that Canada’s big data service market generates more than $1.1 billion annually in revenues.
CIBC is collaborating with the University of Toronto and RBC is collaborating with the University of Alberta to explore how AI can improve banking services.
There are also a number of Canadian companies in this market including Ubiq Technologies which is looking at ways to “mitigate financial crime in asset management” and ChatBot which is designed to address money laundering and counter-terrorist financing issues.
Nora F. Osbaldeston
William L Northcote
1. Payment Services / Mobile Payment
2. Asset and Portfolio Management
3. Consulting and Broking Services / Robo-advisory / Auto-trading
4. Trading Platforms / Social Trading Platforms / Signal Following
5. Crowdfunding / Crowdinvesting / Crowdlending
6. Virtual Currency - Bitcoin
7. Loan Services / Factoring / Loan Broking / Finetrading
8. Online Banking Services
9. Analytics and Research / Data Management / Risk Management
15. Initial Coin Offerings (ICOs)
Publication Date: 1 May 2018