Canada    FinTech Guide    Chapter 9    Canada

9. Analytics and Research / Data Management / Risk Management
Canada  Canada

The social and political climate in Canada is favourable to these types of services.

Legal Affairs

There are no special requirements (including licenses) required to offers these services.

Economic Conditions

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.

Contributing Authors

Miller Thomson LLP

Nora F. Osbaldeston
Toronto, Canada

Shibley Righton LLP

William L Northcote
Toronto, Canada

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Chapter Index:

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

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 May 2018