Investment in the Canadian fintech sector has exploded over the past five years. By 2018, technology spending by the Canadian financial sector is expected to reach $14.8 billion — compared to $12 billion in 2013. This boom can be attributed to several key influences — digitization and growing consumer demands for frictionless and personalized mobile financial solutions (affected largely by millennials).
Advancements in technology infrastructure, such as the birth of cloud-based services like AWS, also factored largely in the industry’s growth and made it possible for startup fintechs to scale and reach customers around the world at unprecedented rates.
Under this new world order, size is no longer a full-stop barrier to entering the financial game. Disruptive financial startups are now able to compete with the ‘big boys,’ those established banks that have long dictated the terms of Canada’s financial scene.
And these startups have done so by doing
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