January 6, 2018
Canada’s competition authority just released an insightful paper outlining the specifics of the FinTech industry in the country, and, more importantly, the government’s approach to make the FinTech ecosystem an organic part of the economic environment. Some of the propositions indicate a very clear position of Canada to harbor extensive innovation adoption and allow startups to flourish. Institutional banking, on the other hand, is expected to open up to opportunities and collaboration.
Financial sector regulators and policymakers have made significant progress in adapting Canada’s regulatory environment to support innovation in the financial services sector. In brief, the recommendations are as follows: