Category Archives: Research

Check out the latest books by a few of our featured FFCON speakers!

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NCFA | Team FFCON20 | July 6, 2020

FFCON speaker author books - Check out the latest books by a few of our featured FFCON speakers!We have great thought leaders and authors that will be speaking at FFCON20 (also some prizes!) Check these out and stay at the forefront of digital change in financial services:

doing digital cover - Check out the latest books by a few of our featured FFCON speakers!

Banking in today’s day and age has evolved rapidly, especially in the recent decade. With the rise in digital and open banking, new opportunities are sprouting up and disrupting the traditional ways of banking. Prominent banks such as JPMorgan Chase (USA) and ING (Europe) are fully aware of this and have adopted radical new approaches to best adapt and survive the changing environment. Voted one of the most influential people in banking by The Financial Brand, Chris Skinner provides detailed interviews with 5 banks in Doing Digital and shares his commentary on the secrets to thrive in the new era of finance and technology. Get DOING DIGITAL book now

See Chris Skinner speak at FFCON20 Week 3:  July 23 Sustainable Finance:  Purpose Driven Finance

Tech revolution in financial services cover - Check out the latest books by a few of our featured FFCON speakers!

The financial services industry has been evolving at unprecedented speeds with increasing competition from both within and outside the industry, notably from entrepreneurial FinTech start-ups and non-financial technology-based companies. Some of these entrants are looking to replace the incumbents with the technological disruption while others look to partner with them. In The Technological Revolution in Financial Services, Michael King and Richard Nesbitt ultimately believe that the increased competition from the technological revolution will benefit customers and lead to a more open and inclusive financial system. Get Technological Revolution in Financial Services book now

See Michael King speak at FFCON20 Week 1:  July 9 Scaling Fintech Funding, Innovation and Competition:  Intangibles Economy and Scaling Fintech in Canada

Friction Roger Dooley resize - Check out the latest books by a few of our featured FFCON speakers!

According to data, the US economy loses $3 trillion dollars in productivity due to excess bureaucracy, and $4.6 trillion of merchandise is left in abandoned e-commerce shopping carts. Why is the cause of these appalling statistics? Roger Dooley believes it is attributed to the growing presence of ‘friction’, which he defines as the unnecessary expenditure of time, effort, or money in performing a task. In FRICTION - The Untapped Force That Can Be Your Most Powerful Advantage, Dooley combines scientific research with real life examples to illustrate how to spot out areas of friction in an organization and explains the strategies to help eliminate them, creating a more swift and efficient experience for both the business and the customer. Get FRICTION book now

See Roger Dooley speak at FFCON20 Week 2:  July 16 Open Banking and Future of Paytech:  Reducing Friction in Banking and Financial Transactions

financial services revolution cover - Check out the latest books by a few of our featured FFCON speakers!

Blockchain is a growing field that is transforming the financial and technological industries in profound ways. In Financial Services Revolution: How Blockchain is Transforming Money, Markets, and Banking, Co-founder of The Blockchain Research Institute Alex Tapscott shares insights from some of the world’s top thinkers in blockchain in how to survey the coming digital storm. Discussions in the book revolve around global payment networks, tokenization, and innovative financing methods. Get FINANCIAL SERVICES REVOLUTION book now

See Alex Tapscott speak at FFCON20 Week 2:  July 16 Open Banking and Future of Paytech:  Financial Services Revolution


NCFA Jan 2018 resize - Check out the latest books by a few of our featured FFCON speakers! The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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JOIN US THUR, AUGUST 6 DIGITAL IDENTITY & CONVERGENCE MARKETPLACES WEEK!


As the digital economy grows and the world increasingly moves online, the future of digital identity will deliver new frameworks and infrastructure to support digital commerce, online interactions and social identification in more secure and robust ways than ever thought before. This future is here today where individuals and businesses can establish digital representations of their identities to serve as the gateway to store and protect sensitive data, manage permissions and ultimately enable the future of Convergence Marketplaces.



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NCFA COVID 19 letter to government to support Fintechs and SMEs - Check out the latest books by a few of our featured FFCON speakers!

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Digital Financial Inclusion in the Times of COVID-19

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IMF Blog | By Ulric Eriksson von Allmen, Purva Khera, Sumiko Ogawa, and Ratna Sahay | July 1, 2020

financial inclusion and fintech - Check out the latest books by a few of our featured FFCON speakers!The COVID-19 pandemic could be a game changer for digital financial services. Low-income households and small firms can benefit greatly from advances in mobile money, fintech services, and online banking. Financial inclusion as a result of digital financial services can also boost economic growth. While the pandemic is set to increase use of these services, it has also posed challenges for the growth of the industry’s smaller players and highlighted unequal access to digital infrastructure. Several actions will need to be taken to ensure maximum inclusion going forward.

Low-income households and small firms can benefit greatly from advances in mobile money, fintech services and online banking.

The shift towards digital financial services was already helping societies advance financial inclusion before the pandemic started, benefiting many low-income households and small firms with typically little access to traditional financial institutions. Lockdowns and social distancing are accelerating the use of digital financial services, just as the SARS epidemic in 2003 hastened China’s launching of digital payments and e-commerce.

See:  Cambridge launches the Global Alternative Finance Industry Benchmark & Covid-19 Rapid Assessment Survey in Partnership with World Bank Group and World Economic Forum

Many countries (for example, Liberia, Ghana, Kenya, Kuwait, Myanmar, Paraguay and Portugal) are supporting this shift with measures such as lowering fees and increasing limits on mobile money transactions.

Africa and Asia lead the way

In a new study, we introduce an index of digital financial inclusion that measures the progress in 52 emerging market and developing economies. We found that digitalization increased financial inclusion between 2014 and 2017, even where financial inclusion through traditional banking services was declining. This is likely to have progressed more since then.

Africa and Asia lead digital financial inclusion, but with significant variation across countries. In Africa, Ghana, Kenya, and Uganda are front runners. In comparison, the Middle East and Latin America tend to use digital financial services more moderately. In some countries, such as Chile and Panama, this likely reflects a relatively higher level of bank penetration.

See:  Black tech founders say venture capital needs to move past ‘diversity theater’

In most countries digital payments services are evolving into digital lending, as companies accumulate users’ data and develop new ways to use it for credit worthiness analysis. Marketplace lending, which uses digital platforms to directly connect lenders to borrowers doubled in value from 2015 to 2017. While so far concentrated in China, the United Kingdom, and the United States, it appears to be growing in other parts of the world, such as in Kenya and India.

Benefits beyond financial inclusion

Financial inclusion benefits economies and societies as a whole. Previous studies have found that extending traditional financial services to low-income households and small firms goes hand-in-hand with increasing economic growth and reducing income inequality. Our analysis finds that digital financial inclusion is also associated with higher GDP growth.

During the COVID-19 lockdowns, digital financial services are enabling governments to provide quick and secure financial support to “hard-to-reach” people and businesses, as demonstrated in Namibia, Peru, Zambia, and Uganda. This will help mitigate the economic fallout and potentially strengthen the recovery.

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NCFA Jan 2018 resize - Check out the latest books by a few of our featured FFCON speakers! The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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As the digital economy grows and the world increasingly moves online, the future of digital identity will deliver new frameworks and infrastructure to support digital commerce, online interactions and social identification in more secure and robust ways than ever thought before. This future is here today where individuals and businesses can establish digital representations of their identities to serve as the gateway to store and protect sensitive data, manage permissions and ultimately enable the future of Convergence Marketplaces.



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NCFA COVID 19 letter to government to support Fintechs and SMEs - Check out the latest books by a few of our featured FFCON speakers!

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Setting up small and medium-size enterprises for restart and recovery

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McKinsey & Co | By Abdulaziz Albaz, Tarek Mansour, Tarek Rida, and Jörg Schubert | Jun 9, 2020

Help SMEs recover 1 - Check out the latest books by a few of our featured FFCON speakers!Small and medium-size enterprises are a critical engine for the global economy. In the wake of the pandemic, governments can take four actions to maximize the impact of existing support measures.

Governments’ economic responses to the COVID-19 pandemic have included an array of measures to help people and businesses weather the storm. Small and medium-size enterprises (SMEs) are in an especially difficult position. Plunging demand has forced them to lay off workers, and many don’t have the financial resources to survive in this climate. In many countries, up to one-third of SMEs could go bust within three months of when the pandemic began in their countries. 1 But their viability will be critical to any postcrisis recovery: SMEs account for two-thirds of global employment and half of global GDP. A failure to protect them could put the entire global economy at risk.

Since the onset of the pandemic, governments have implemented a sizable number of programs aimed at addressing the needs of SMEs. The overarching goal has been to provide business owners with critical funds and support in the immediate term. These actions are critical, but to maximize their impact, policy makers could consider four additional actions: easing SME access to government support, enabling the support ecosystem through an ‘SME nerve center,’ sharpening focus on building sustainability and resilience, and replanning for the next normal.

See:  Women In Fintech Will Play A Crucial Part In The Covid-19 Recovery Plan

SMEs have the potential to be an economic and employment engine after the crisis, but an effective government response now will be critical. The prospects of an eventual recovery depend on it.

Why SMEs are more vulnerable to the crisis

While all companies have had to quickly adapt to disruption and greater uncertainty, SMEs are particularly susceptible. Three factors increase the potential fallout from the crisis for SMEs compared with larger companies.

Plunging demand and liquidity challenges:  Demand has declined dramatically since the onset of the pandemic. According to 15 surveys in Organisation for Economic Co-operation and Development (OECD) countries, more than half of SMEs already face severe losses in revenues, with many having only a few months of reserves. In Portugal, 37 percent SMEs reported a more than 50 percent drop in production. 2 At the start of the outbreak, two-thirds of SMEs in China reported having enough cash to cover fixed costs for no more than two months. In the United States, an average small business has only 27 days of cash flow. This combination of factors puts SMEs in a vulnerable position and many face risking a permanent closure.

Inflexible supply chains and operations:  SME management teams don’t have the bandwidth that large companies have in core functional areas to manage commercial pressures and respond to the pandemic. This lack of capacity manifests itself in an inability to quickly adapt their supply chain and production processes. SMEs frequently source inputs from supply chains that have become longer, more complex, and more global.

See:  Gauging The Coronavirus Effect On Supply Chains — And The Last Mile

The pandemic has disrupted these supply chains, leaving many SMEs without the materials they need to maintain operations. In addition, measures meant to slow the disease’s spread have also disrupted SME production processes. Factory floors of small enterprises are not designed for physical distancing, and the companies typically do not have the expertise and resources to quickly reconfigure their operations.

Disproportional SME representation in hardest-hit sectors:  According to our analysis, some industry sectors will be hit harder than others in the crisis and will take longer to recover due to long-term demand and supply disruptions. These sectors, which include retail, hospitality, food service, entertainment services, and construction, have an overrepresentation of SMEs due to the local nature of the demand and lower barriers to entry. For example, in the OECD, 60 to 70 percent of SMEs do business in these sectors, making SMEs more affected by the crisis.

Four actions to elevate impact of existing measures

The scope of the pandemic and the resulting economic fallout have led many government officials to question whether their response to date is sufficient to protect SMEs and provide the foundation for a recovery. The goal is to get the greatest possible impact from existing efforts and set up SMEs for a stronger recovery after the crisis.

In our experience, four actions are critical. The first two focus on the immediate response to the pandemic, the last two on how SMEs can emerge stronger.

1. Ease SME access to support

To increase SMEs’ participation in response measures, policy makers should work directly with them, helping them identify the right assistance programs, navigate application processes, and secure assistance. Countries that have successfully carried out such interventions have established a single, integrated point of contact for SMEs. For example, the Australian government built a dedicated website section with information for businesses about available support measures and set up an SME hotline.

See:  NCFA Open Letter: Government should collaborate with Fintechs

Once informed of the most relevant support, SMEs need fast and easy access to services. For example, loans, grants, and guarantees that require elaborate applications can be deterrents, especially for the smallest enterprises, which don’t have the staff or resources to dedicate to lengthy submission processes. By easing administrative processes, governments can increase SME participation in assistance programs. For example, the German state of Bavaria offered immediate aid of €5,000 to €30,000 to affected SMEs. Similarly, the Business Development Bank of Canada (BDC) offered a small-business loan of up to CA $100,000 that can be obtained online within 48 hours from time of approval. 3

2. Orchestrate and focus the support ecosystem through an ‘SME nerve center’

SMEs now need comprehensive support. To maximize the impact of government response measures, governments should create an ‘SME nerve center’ to serve as a single orchestrator, activate the full ecosystem, and ensure that all efforts are aligned with the overarching goals. Necessary first steps include addressing the interests of different parties, increasing information accessibility, and matching demand with supply.

In addition, the SME nerve center can act as a control tower that closely monitors the uptake and impact of programs and establishes a feedback loop. These insights enable policy makers and SME-support-ecosystem participants to adapt rapidly and focus their assistance. Currently, most governments are unable to track progress, which creates blind spots that limit their ability to take corrective action to enhance the effectiveness of programs. The nerve center also provides information about SME participation in government support programs at the segment and regional levels; these insights are essential to mobilizing the relevant ecosystem stakeholders.

3. Sharpen focus on building sustainability and competitiveness

The speed of recovery will depend on the ability of SMEs to return to sustainable operations post crisis after current stimulus measures run out. Policy makers should direct their focus to delivering three foundational interventions that are of highest impact and relevance to SMEs: access to local demand, support for internationalization, and enhancement of productivity.

See:  Monopoly-Friendly Canada ‘Does Not Treat Competition Policy Seriously’

First, SMEs’ share in public procurement remains lower than it should be in many markets. Public procurement remains the avenue for sustainable SME development with the most impact, given its share of total demand (for example, 30 percent in OECD countries and more than 50 percent in developing countries). Governments can consider easing administrative burdens that have limited SME participation in public procurement to date. For example, South Korea’s Ministry of SMEs and Startups has implemented a measure to simplify the processes and administrative burden in public procurement by limiting on-site inspections. Governments in many countries have offered advanced payments for procured services and goods.

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NCFA Jan 2018 resize - Check out the latest books by a few of our featured FFCON speakers! The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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As the digital economy grows and the world increasingly moves online, the future of digital identity will deliver new frameworks and infrastructure to support digital commerce, online interactions and social identification in more secure and robust ways than ever thought before. This future is here today where individuals and businesses can establish digital representations of their identities to serve as the gateway to store and protect sensitive data, manage permissions and ultimately enable the future of Convergence Marketplaces.



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NCFA COVID 19 letter to government to support Fintechs and SMEs - Check out the latest books by a few of our featured FFCON speakers!

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Cambridge launches the Global Alternative Finance Industry Benchmark & Covid-19 Rapid Assessment Survey in Partnership with World Bank Group and World Economic Forum

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Cambridge Centre for Alternative Finance | Tania Zielgar | Jun 17, 2020

Global Benchmarking and Covid 19 Survey Banner - Check out the latest books by a few of our featured FFCON speakers!NCFA Intro:  NCFA is please to provide continued support as a National industry partner of the Cambridge Centre for Alternative Finance research initiatives in Canada.  It's absolutely essential that data and research be collected and anlayzed to help identify trends, inform policy and understand the state of industry during these times of global risk and innovative change.  We strongly advise all fintech firms, research partners and anyone who is able to help this important survey collection initiative by completing the survey and sharing it widely among your network.

Overview of the Global Alternative Finance Industry Benchmark & Covid-19 Rapid Assessment Survey

For the past several years, the CCAF has produced comprehensive industry-focused research on the evolution of alternative finance; documenting and analysing the development of Crowdfunding, P2P/Marketplace Lending and other FinTech markets from across 190 countries.

This year’s benchmarking survey will also include the recently launched The Global Covid-19 Fintech Market Rapid Assessment Study, in partnership with the World Bank Group and the World Economic Forum. The empirical data collected will be used to understand Covid-19’s impact on the FinTech markets, how the global FinTech industry has responded and some of the immediate regulatory and policy implications. This research program has resulted in 20 reports, which are disseminated freely to inform policy and raise public awareness of alternative finance. This research has provided unique detail and insight into the changing FinTech landscape, creating a valuable evidence-base for policymakers, regulators, and industry stakeholders to utilize when evaluating the FinTech ecosystem within their local context or from a globally comparative perspective.

The Fintech landscape is changing rapidly as a result of Covid-19. This report, and the historical data on this industry more broadly, provide signposts as to the general development trajectories of firms when faced with this pandemic, and where strengths and weakness may lie.

The survey will hence include two key components:
1.    Time-series data required to continue the CCAF long-standing tradition of benchmarking and scoping the industry (referring to your 2019 activities), and
2.    Covid-19 focused time-sensitive data on a) market performance, b) regulatory needs & policy asks, and c) operational changes & implications.

The long-term impact of Covid-19 is yet to be known. By coupling longitudinal data with this research initiative, we can begin to test the resiliency of this market and provide clear, evidence-based assessments on how the sector will continue to develop.

As with all our reports, the Global Covid-19 Fintech Market Rapid Assessment (anticipated publication Q3) and the Annual Global Alternative Finance Industry Report (Q4) will be made available to the public and actively disseminated to provide key insights to regulators, policymakers and key industry stakeholders.  

Cambridge global benchmarking survey taxonomy - Check out the latest books by a few of our featured FFCON speakers!

Thanks in advance for your contribution to the study:  Take the Survey Now

https://jbs.eu.qualtrics.com/jfe/form/SV_7PRyNSA3B5IKIrX

The Covid-19 pandemic presents both serious challenges and potential opportunities for the global FinTech industry to grow and scale, with the long-term effects yet unknown. By coupling the CCAF’s longitudinal data with this exciting research initiative, we can begin to test the resiliency of this market and provide clear, evidence-based assessments on how the sector will continue to develop.

This Study will provide a global assessment of the FinTech ecosystem’s responses to the Covid-19 pandemic, with particular attention to the industry’s response to challenges and their regulatory and policy concerns.  This survey will result in a jointly published report between the CCAF, World Bank and World Economic Forum, and will be made available online.  You can find further information on the Study in the accompanying press-release.

The survey will close on July 31st. If you have any questions or comments, please feel free to contact the CCAF research team directly:  Tania Ziegler (t.ziegler@jbs.cam.ac.uk).

Take the survey now --> here

 

Other links you may like:

Cambridge Centre for Alternative Finance Publishes First Global Report on Alternative Finance: Over $300 Billion in Volume in 2018

Cambridge: Global Regulator Survey Results – Regulation of Alternative Finance is Key to Make Sector Safe to Scale for the Masses

 


NCFA Jan 2018 resize - Check out the latest books by a few of our featured FFCON speakers! The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Check out the latest books by a few of our featured FFCON speakers!FF Logo 400 v3 - Check out the latest books by a few of our featured FFCON speakers!community social impact - Check out the latest books by a few of our featured FFCON speakers!

JOIN US THUR, AUGUST 6 DIGITAL IDENTITY & CONVERGENCE MARKETPLACES WEEK!


As the digital economy grows and the world increasingly moves online, the future of digital identity will deliver new frameworks and infrastructure to support digital commerce, online interactions and social identification in more secure and robust ways than ever thought before. This future is here today where individuals and businesses can establish digital representations of their identities to serve as the gateway to store and protect sensitive data, manage permissions and ultimately enable the future of Convergence Marketplaces.



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NCFA COVID 19 letter to government to support Fintechs and SMEs - Check out the latest books by a few of our featured FFCON speakers!

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Open Banking just got its own App Store

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Altfi | liver Smith | Jun 9, 2020

open banking gets an app store - Check out the latest books by a few of our featured FFCON speakers!Just what we needed.

The UK’s Open Banking Implementation Entity (OBIE) has launched an official App Store to showcase all the financial services apps which are currently using Open Banking APIs.

It looks to solve one of the industry’s biggest challenges of showing all the great work which is being done, and how solutions are solving problems.

So far 54 apps can be found in the listing, ranging from Barclays banking app through to lender Iwoca and savings app MoneyBox, with more due to be added each week.

See:  Open banking would help the recovery

The listings can also be switched between those consumer-facing services (29), business-to-business (28), and technical services (7) like Plaid and Yolt Technology Services.

“Consumers and SMEs need more clarity than ever on how to manage their finances through this difficult time. With the number of banks and fintechs offering Open Banking-enabled products growing so rapidly, deciphering the advantages of each product can seem daunting,” said the OBIE’s ecosystem development director David Beardmore.

The App Store is just one of the OBIE’s steps to raise awareness of Open Banking projects, including a monthly roundup of provider numbers and milestones, and events with third-party providers.

“Better knowledge and greater awareness equate to more power in the hands of customers,” said Beardmore.

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NCFA Jan 2018 resize - Check out the latest books by a few of our featured FFCON speakers! The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Check out the latest books by a few of our featured FFCON speakers!FF Logo 400 v3 - Check out the latest books by a few of our featured FFCON speakers!community social impact - Check out the latest books by a few of our featured FFCON speakers!

JOIN US THUR, AUGUST 6 DIGITAL IDENTITY & CONVERGENCE MARKETPLACES WEEK!


As the digital economy grows and the world increasingly moves online, the future of digital identity will deliver new frameworks and infrastructure to support digital commerce, online interactions and social identification in more secure and robust ways than ever thought before. This future is here today where individuals and businesses can establish digital representations of their identities to serve as the gateway to store and protect sensitive data, manage permissions and ultimately enable the future of Convergence Marketplaces.



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More Info



Week 5 Digital Identity and Convergence Marketplaces resize2 - Check out the latest books by a few of our featured FFCON speakers!



NCFA COVID 19 letter to government to support Fintechs and SMEs - Check out the latest books by a few of our featured FFCON speakers!

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Behind tech layoffs lay systemic cash flow negative companies

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Medium | Gonzalo Espinoza Graham | May 31, 2020

public companies and covid layoffs - Check out the latest books by a few of our featured FFCON speakers!

Since the pandemic started, there’s been approximately 61,260 tech layoffs [1]. Close to 30% of the layoffs came from public tech companies, 85% of those companies are unprofitable.

No deep insights here, just the simple fact that the once growth hyper focused startups grew to be publicly traded companies without ever sorting their unit economics, and now their mediocracy has real consequences on real people.

See:  How Regulation Crowdfunding Stood up to the First Weeks of Coronavirus – Almost Opposite of the Public Markets

This includes household names such as Uber, Lyft, Casper, and Eventbrite which we’ve all used, and begs the question: why did we allow so many unprofitable companies IPO? When did losing money become acceptable and the new normal for publicly traded companies?

Here’s to a new generation of entrepreneurs who prioritize building sustainable businesses.

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NCFA Jan 2018 resize - Check out the latest books by a few of our featured FFCON speakers! The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Check out the latest books by a few of our featured FFCON speakers!FF Logo 400 v3 - Check out the latest books by a few of our featured FFCON speakers!community social impact - Check out the latest books by a few of our featured FFCON speakers!

JOIN US THUR, AUGUST 6 DIGITAL IDENTITY & CONVERGENCE MARKETPLACES WEEK!


As the digital economy grows and the world increasingly moves online, the future of digital identity will deliver new frameworks and infrastructure to support digital commerce, online interactions and social identification in more secure and robust ways than ever thought before. This future is here today where individuals and businesses can establish digital representations of their identities to serve as the gateway to store and protect sensitive data, manage permissions and ultimately enable the future of Convergence Marketplaces.



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More Info



Week 5 Digital Identity and Convergence Marketplaces resize2 - Check out the latest books by a few of our featured FFCON speakers!



NCFA COVID 19 letter to government to support Fintechs and SMEs - Check out the latest books by a few of our featured FFCON speakers!

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How to Build Canada’s Competitiveness Amidst the Rise of an Intangibles Economy and Greater Geopolitical Complexity

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Public Policy Forum | Forward by Edward Greenspon | Jun 2020

New North Star II - Check out the latest books by a few of our featured FFCON speakers!The two questions on the minds of economists as governments intervened in March 2020 to dial back commercial activities were how to reignite the economy and would it look significantly different than before. Given that economies are dynamic creatures in a constant state of flux, it is actually hard to imagine them re-emerging in some static holding pattern. The better question is do we want them to differ and in what ways.

Profound and rapid economic change, akin to the 1800s Industrial Revolution, was already generating pent-up policy pressures in the years preceding the COVID-19 pandemic. The rise of the Internet (and a host of other science and technology breakthroughs) tossed many of the old assumptions, as did the stunning rise of China and the relative disengagement of an ever-more insular United States. Analysts increasingly warned of a decoupling of the global commons into rival camps struggling for economic and strategic superiority by gaining advantage for their own technological standards and platforms. When the COVID-19 crisis came along, it merely served as an accelerant to a process pushing and pulling at globalization.

See:  [Report] A New North Star: Canadian Competitiveness in an Intangibles Economy

It is in this context that the Public Policy Forum releases New North Star II: A Challenge-Driven Industrial Strategy for Canada. It provides a well-timed dissertation on how Canada can build up its competitiveness amidst the rise of an intangibles economy and greater geopolitical complexity.

It would be nice to think that world leaders will reflect on the health and economic calamities from COVID-19 and give greater weight, as after the Second World War, to strengthening global collaboration. The pandemic could be like a science fiction story of old, rallying nations against the alien invaders. Rather, it appears more likely to aggravate the weakening of the institutions of an inclusive international order in favour of a U.S.-led sphere and a Chinese-led one - each vying for strategic advantage while sowing uncertainty and mistrust among nations. (Perhaps there will be a middling European model in the mix, although lacking in the muscularity of the other two.)

Either way, Canada needs to contend with the attenuation of its long-standing strategic anchors: a United States committed to our welfare and the counter-balance of a high-functioning multilateral system. Pathways to the elusive Third Option have been obstructed by the U.S.-China chasm. While our interests, as always, cry out for more friendships, not fewer, within the family of nations, the desire for greater diversification runs headlong into geographic realism in a world of choosing sides.

New North Star 1 was notable for the ground it broke on how public policy was falling behind the surge of the intangibles economy that touched everything from tech to resources. Authors Robert Asselin and Sean Speer argued that new imperatives required Canada to forge a new policy consensus in such areas as intellectual property, foreign investment, data sovereignty and the development of a talent and skills-laden workforce.

See:  Monopoly-Friendly Canada ‘Does Not Treat Competition Policy Seriously’

In this second volume, the authors, joined this time by CIBC economist Royce Mendes, continue down the intangibles path while turning their gaze more squarely on the implications for Canada of the forces of geopolitical change. They portray the tense, technology-driven dynamic between today’s two Great Powers as having forced a shotgun marriage between national security and competitiveness, blurring the lines between the political and economic and the domestic and foreign. Canada’s agonizing over 5G policy provides a case in point.
What’s certainly clear is we need not just to recover but to rebuild. Simply pulling out the old blueprints for an economy that was already under stress would be to waste an occasion to rethink necessary policy challenges, such as:
  1. how to effect a decarbonized oil and gas sector while adding higher value supply chains at home;
  2. how to leverage our clean electricity and find global niches in clean tech;
  3. how to develop digital infrastructure that enhances our competitiveness in the digital economy, enabling Canadians wherever they live to participate in the digital economy;
  4. how to promote digital services that can be sold across borders with less friction than hard goods;
  5. how to design intellectual property and data regimes that foster domestic growth without shutting out global know-how;
  6. how to diversify our export risks in the shadow of the new geopolitical rivalry and strengthen our position vis a vis a more arbitrary United States.

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