The Canadian province of Ontario has put together a team of financial services and technology experts to help it build a fintech strategy that boosts growth while protecting consumers.
Ontario is one of the biggest centres in North America for both financial services and technology. This has inevitably seen the province, and specifically Toronto, become a major fintech hub, just this week hosting the Sibos and Ripple Swell conferences.
The province is keen to build on its 140-strong fintech companies, creating an ecosystem that lets it take on US centres such as New York, Silicon Valley and Chicago.
Last year, the Ontario Securities Commission introduced a LaunchPad team to help fintech businesses navigate regulatory requirements, while work has also been ongoing to support the cybersecurity sector.
Jennifer Reynolds from the Toronto Financial Services Alliance, Roy Kao from the MaRS Discovery District and Adam Felesky of Portag3 Ventures are among the members of the new advisory group, which will work over the coming months on a fintech strategy.
Brad Duguid, Minister of Economic Development and Growth, says: "It is essential to develop a new strategy to help Ontario’s fintech entrepreneurs’ access quality data and resources. The invaluable participation of leaders in the sector will foster the environment fintech firms need to grow and prosper in our province."