Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Research
Millennial and Gen Z Workforce Demand Purpose-Driven Work: Deloitte Survey Insights
Fortune | Elizabeth Faber | Jul 6, 2023
Image: Unsplash/Eliott Reyna
Ethical alignment and purpose-driven work significantly influences career decisions of Gen Z and Millennials
- Deloitte's latest Global Gen Z and Millennial Survey reveals that nearly 40% of respondents have rejected work assignments due to ethical concerns, and over a third have declined offers from employers they perceive as lacking in areas such as environmental responsibility, diversity, equity, and inclusion (DEI), or mental health initiatives.
- This underscores the importance of ethical alignment between employees and their organizations, a factor that significantly influences career decisions among younger generations.
- Purpose-Driven Work is a Must:
- The survey indicates that over 80% of Deloitte's global workforce, approximately 330,000 employees, belong to the Millennial and Gen Z demographics.
- These generations are not satisfied with merely working for purpose-driven organizations; they want to actively participate in driving societal change through their work.
- However, only half of the respondents feel empowered to drive change within their organizations, highlighting a gap that employers need to address.
Emerging Investors: Gen Z Canadians Take the Lead in Global Investment Trends
Fintech Fridays EP55: Global Hiring Trends: How Gen Z Talent Thrives
- Climate Action:
- Over half of the respondents research a company's environmental impact and policies before accepting a role, and a quarter plan to change jobs or sectors due to climate concerns.
- Only 15% of Gen Z and Millennial respondents feel they can influence their organization's sustainability efforts.
Organizations must prioritize purpose and impact, promote ethical alignment, and empower employees to drive change. This not only secures long-term commitment from these generations but also creates financial and social value for the organization.
View more --> here
Download the 38 page PDF Survey report --> here
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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Marqeta 2023 State of Payments Report: Rise of P2P Payment and Embedded Financial Services, & Hybrid Future?
Tearsheet | Sara Khairi | Jul 5, 2023
Image: Marqueta - 2023 State of Payments Report
The future of banking is expected to be a hybrid model, combining traditional and embedded financial services (Marqeta: 2023 state of payments report)
- Traditional vs Digital Banks -- Hybrid future?
- Despite the rise of digital banking, traditional banks continue to play a significant role. Consumers are seeking the best of both worlds, with 37% wanting to maintain relationships with their traditional banks while also enjoying the benefits of tech-enabled services from digital banks.
- 81% of consumers using a traditional bank for their primary account and 64% storing the majority of their funds in a traditional bank.
- However, 37% of consumers also use a digital-only bank, primarily due to satisfaction with their mobile apps.
- Traditional payment methods, such as cash and debit cards, still surpass newer digital payment methods, but the gap is narrowing.
See: Payments Canada Report: Rebound & Grow – Payment Methods and Trends in 2021
- Rise of Embedded Financial Services:
- Embedded financial services, such as integrated payments and Buy Now, Pay Later (BNPL) options, are gaining popularity due to their convenience. These services are expanding beyond payments and lending to include insurance and investments.
- Integrated payments, in particular, are leading the way, with 76% of consumers preferring to make purchases through a retailer's mobile app, up from 69% in 2022.
- P2P Apps Gaining Traction - expected to reach $4.89 trillion by 2030
- Younger Americans are driving this growth, with 75% of consumers having used a P2P payment app in the last 12 months.
- PayPal is the most popular service, with 88% of consumers reporting usage in the past twelve months.
Read: Payments Canada Delays Launch of Real-Time Rails Again (without a timeline)
- Shift in Card Business:
- The increased adoption of digital wallets is creating competition among card issuers. Consumers tend to keep only a few cards in their digital wallets for ease of use and convenience. Card providers can stay ahead by offering a hassle-free experience, flexible payment terms, and relevant rewards and incentives.
View more --> here
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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From Gaming to Gig Economy: How Canadians are Embracing New Payment Methods
CPPO | Jun 30, 2023
Image: CPPO
The popularity and satisfaction of prepaid methods have skyrocketed as Canadians increasingly adopt digital payment systems.
This trend is evident in a variety of new applications, such as 'Buy Now, Pay Later' (BNPL) schemes, immediate wage access for gig and contract workers, third-party delivery services, digital-centric accounts for transactions and savings, as well as digital wallets used for gaming and sports betting.
- Digital Payment Adoption Among Younger Canadians and BIPOC Communities:
- The research indicates a significant shift among younger and middle-aged Canadians (under 55), and those who identify as BIPOC, towards non-traditional, digital financial services indicating a growing market for digital banking and payment solutions.
- The report reveals that 60% of consumers are worried about using their credit card online, and many are turning to prepaid cards for online purchases because they believe it is more secure. This indicates a significant opportunity for businesses to offer prepaid options and emphasize security features to attract and retain customers.
See: Signals by Mastercard: Trends to Watch in the Future of Payments
- The Gig Economy and Immediate Payment:
- The gig economy has seen significant growth in Canada, particularly among younger demographics. These workers prefer immediate payment after completing tasks or shifts, suggesting a need for businesses to consider flexible and immediate payment options.
In conclusion, the digital transformation of the Canadian consumer payments landscape is reshaping how businesses should approach their payment methods. By understanding these trends and adapting accordingly, businesses can better meet the needs of their customers and stay ahead in the competitive market.
View the 10 page PDF report --> here
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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Digital Renaissance: Exploring 15 Ontario-Based Startups Reshaping the Crypto Landscape
Canadian Venture | Jun 15, 2023
Image: Freepik/Pikisuperstar
Ontario is quickly becoming a global hub for digital asset innovation, with a thriving ecosystem of startups spearheading transformative technologies in the realm of cryptocurrency and blockchain.
Listed below are just a handful of innovative enterprises that are not just revolutionizing the digital asset landscape in Ontario, but they are making significant strides in shaping the future of global finance, technology, and digital ecosystems.
| Company Name | Description |
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| Figment | A pioneering startup dedicated to supporting the adoption, growth, and long-term success of the Web 3 ecosystem. |
| Newton.co | A leading cryptocurrency trading platform that enables seamless buying and selling of Bitcoin and Ethereum. |
| Haloo | An enterprise-focused startup on a mission to streamline and simplify the complex process of trademarking. |
| VirgoCX | Canada’s leading regulated cryptocurrency trading platform, committed to ensuring safe, easy, and affordable crypto trading. |
| NFT3 | A groundbreaking startup that has developed the first Unified Decentralized Identity and Credit Network for Web3. |
| Source.network | Revolutionizing data management in the Web3 landscape as an interoperable data management layer. |
| Integral Treasury | Offers a cutting-edge real-time finance platform tailored to Web3 enterprises. |
| Rehuman | Redefining human identity for the digital economy. |
| Yuser | A decentralized social networking platform designed to empower users. |
| Balance | Offers a comprehensive solution for the custody, trading, and management of digital assets. |
View more --> here
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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FCAC Survey Results: Understanding the Canadian Consumer’s Perspective on Open Banking
FCAC | Jun 5, 2023
Image: FCAC commissioned survey chart
FCAC contracted the services of Advanis to conduct POR, between May 16 and June 28, 2022, into Canadians' awareness and understanding of open banking and financial technology or fintech services.
The goal of this research was to help FCAC better understand the knowledge, perceptions, habits, concerns, and consumer protection expectations of Canadian consumers with respect to open banking and related fintech services.
- Low Awareness and Understanding of Open Banking:
- The research reveals that only 9% of Canadians have heard of open banking, with a mere 7% of these respondents being "very" familiar with it. This indicates a significant knowledge gap among consumers, highlighting the need for comprehensive educational initiatives to increase awareness and understanding of open banking.
- Consumer Protection is Crucial:
- The study indicates that the consumer protection measures incorporated into an open banking framework will significantly impact participation. The most popular protection, selected by 70% of respondents, was "full protection from any losses" if something were to go wrong.
- Other valued protections included the ability to revoke consent at any time and requirements for reporting data breaches.
See: Visa Survey: Insights into Consumer Preferences for Open Banking
- Limited Interest in Participation:
- Despite the potential benefits of open banking, consumer interest in using open banking is low. After hearing a definition of open banking, over half (52%) of Canadians said they would not participate in an open banking system. approximately one-third (29%) said "maybe" while only 15% said they would participate.
- Canadians also value strong governance and regulatory oversight:
- 53% of respondents selected "making sure someone oversees the open banking system to keep consumers protected," and
- 54% wanted to be sure that banks can't pressure them to share their financial data.
- If something were to go wrong, 62% want a clear and easy process to follow to make things right.
- Many Canadians need to know more about open banking before they decide whether to use it.
More information --> here
Download the 22 page PDF survey results report --> here
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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Are we headed towards Meta-Banking?
Deloitte | Jun 27, 2023
Image: Deloitte report
The new digital frontier. Banks and fintechs need to adapt to the changing landscape, offering immersive virtual services alongside traditional banking.
What is the metaverse opportunity for financial services?
- The Metaverse presents a significant opportunity for banks to engage with customers in new and immersive ways. This includes the potential to offer traditional banking services in virtual environments, such as virtual branches and immersive advisory services.
- The Metaverse also opens up possibilities for banks to provide solutions for virtual transactions, such as virtual purchases, peer-to-peer exchanges, and digital asset ownership.
- Banks can leverage these opportunities to enhance customer experience, improve operational processes, and increase brand awareness.
- A few examples of companies taking a leading meta-banking position:
- JP Morgan has announced plans to open a shop in the Decentraland platform
- Allied Bank has opened a virtual branch accessible with VR technology
- Kookmin Bank has launched a VR Branch Testbed
FFCON23 On-demand video: Rebuilding trust in Web3: Role for custodians and banks
How should banks and fintechs prepare?
- Banks and fintechs should prepare for the Metaverse by developing strategies that blend real and virtual services, offering products for both the real world and the Metaverse.
- They should also consider partnerships with tech companies to leverage emerging technologies.
- The risks involved include potential disintermediation by "Meta-Fintechs" (fintechs competing in the Metaverse), the challenge of adapting to new technologies, and the need to balance real-world services with virtual offerings. Additionally, there are potential security and regulatory risks associated with virtual transactions and digital asset ownership.
The Metaverse is more than just a trend; it's the next step in the evolution of banking.
Download the 19 page PDF report --> here
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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The Shift to Alternative Assets: Overcoming Barriers and Exploring Opportunities
CAIS | Release | Jun 21, 2023
The recent market volatility, interest rate hikes, and a diminishing confidence in public markets have led to an increased demand for alternative investments.
Alternative assets are projected to constitute up to 24% of the global investable market by 2025, a significant increase from 12% in 2018.
- In a survey conducted by CAIS at the 2022 Morningstar Conference:
- 80.9% of financial professionals agreed that all retail investors should have access to such investment avenues. Traditionally favored assets are experiencing muted expectations and alternatives might provide a diversified method for investors looking to hedge against market instability.
- The survey included over 300 registered investment advisors and other industry experts.
- Nearly three-quarters (74.9%) of respondents believe that the SEC's definition of an accredited investor needs updating.
- Respondents anticipate private equity (49.8%), real estate (38.9%), and private credit (33%) to be the top-performing alternative asset classes in 2022.
- Rethinking the Traditional Investment Mix:
- Public market assets have been underperforming in recent years, with the traditional 60/40 portfolio (60% stocks and 40% bonds) delivering some of its lowest returns in the past two decades.
- About 33.6% of survey participants believe this investment strategy is no longer effective.
- Interestingly, 84% of investment or financial advisors are now recommending alternative investments to their clients who meet accredited investor requirements.
See: Celebrating 7 Years of Regulation Crowdfunding: 4100 Startups Now Valued at $60 Billion
- Obstacles to Accessing Alternative Investments:
- A significant 68.98% of respondents cited lack of education around alternatives as a major hurdle.
- Other obstacles include stringent qualification requirements, high administration and paperwork (37.6%), and concerns around due diligence and compliance processes (34.3%).
- Implications for the finance industry:
- This shifting landscape implies a need for financial advisors to stay updated and expand their knowledge of alternative investments. As more alternative products become available, advisors will need to ensure they're well-versed in these complex products to confidently recommend them to their clients. Moreover, calls for updating the SEC's definition of an accredited investor could potentially open up alternative investments to a broader demographic.
View the original release --> here
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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