16 December 2017
visit www.aciworldwide.com

Toronto talks up fintech credentials

11 January 2017  |  5431 views  |  0 Source: Toronto Financial Services Alliance

A global survey on trends and innovations in financial services ranks Toronto as one of the top fintech centres in the world.

The survey, conducted at the end of last year by the Toronto Financial Services Alliance (TFSA) and Z/Yen, a leading UK think-tank, received unique responses from over 300 individuals working in financial centres worldwide. The survey rated Toronto as the fourth leading global fintech centre of the future.

"Toronto is the second largest financial centre in North America, and Ontario has the second largest concentration of technology companies," said TFSA President and CEO, Janet Ecker. "This unique ecosystem has created a perfect environment for a promising international fintech hub to emerge."

The survey examined several current trends and innovations in various areas of financial services such as fintech and ranked how different financial centres are faring with the innovations taking place.

The survey also noted that cybersecurity was the most significant area of fintech. Ecker said, "We're seeing that Ontario's cybersecurity industry is also beginning to be recognized worldwide. Canada ranks 4th in the world as a cybersecurity hub based on the volume and number of deals."

The survey, called Trends and Innovations in Financial Services, is now available.

Key Facts:

The Banker publication currently ranks Toronto as the 8th most important global financial centre according to their yearly International Financial Centre ranking.
Toronto is the 2nd largest financial centre in North America by employment.
Ontario is currently the 2nd largest IT cluster in North America just after California.
Toronto is home to a host of globally recognized accelerators and incubators such as Communitech, MaRS, OneEleven and DMZ who was ranked 3rd globally and 1st in North America as a leading university-based incubator.
The University of Waterloo and the University of Toronto are both ranked globally for their strengths in cutting edge technology, start-ups, accelerator programs and tech talent.
According to Thomson Reuters, venture-capital financing in Canadian fintechs was up 74 per cent in 2016 while both the United States and Britain have experienced significant declines.

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.atos.netvisit www.aciworldwide.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
10351 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9788 views comments | 17 tweets | 36 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7043 views comments | 19 tweets | 20 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6443 views 0 | 4 tweets | 2 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
6102 views comments | 5 tweets | 26 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job