Category Archives: NCFA Blog

JUST LAUNCHED: 4th VanFUNDING 2018 Vancouver Conference: CONVERGE – Building Bridges and Capital with Emerging Blockchain, Fintech and AI Innovations on November 29-30, 2018

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NCFA Canada | Team VF2018 | Oct 5, 2018

VANCOUVER, Canada - (Oct 5, 2018): The National Crowdfunding & Fintech Association of Canada announces VanFUNDING 2018: CONVERGE, the leading 4th Annual financial technology and capital conference held in downtown Vancouver.

The expanded #VF2018 offers world-class education, funding and networking opportunities delivered via keynotes, TEDx-style presentations, panels, workshops, executive round tables, investor pitching, meeting exchanges and mentoring. #VF2018 will cover Fintech, Blockchain, Crypto, Artificial Intelligence, Crowd and Distributed Finance, Regtech, Payments, Digital banking, Identify and Security, International Trade, Alternative Investing and Innovation Finance and more, from a diverse range of perspectives.

This year’s theme, CONVERGE, immerses participants and builds bridges across the most disruptive emerging technologies, capital market innovations and key stakeholders that are powering new global markets, new decentralized models, new forms of computer intelligence, new IP, new infrastructure and new alternative investment opportunities toward the vision of a Web 3.0. 

#VF2018: CONVERGE will feature 1.5 days of immersive educational content, 50+ speakers, dragon’s den pitching program and a multitude of networking and partnership opportunities.  New to the program this year is a unique storytelling style that attendees will experience culminating into the co-creation of the first fintech digital pop-up magazine issue.

 “We are witnessing unprecedented change that is already affecting our daily lives - how we interact with financial services, generate digital wealth, invest, evaluate, consume, vote, and store, transfer and purchase anything of value.”  Craig Asano, Founding CEO, NCFA

If you are a fintech innovator, an investment professional or a company actively raising capital, or a key decision maker/stakeholder in technology and digital finance, #VF2018 is a must attend event bringing together fintech leaders, investors and emerging innovators from start-ups to scale-ups to government regulatory bodies and policy makers who have a vision for the future of finance.

PITCHING and SPEAKING APPLICATIONS now open.

 

Links:

VanFUNDING 2018

Speaking Applications Now open

Pitching Applications (Submit by Nov 4)

 

 


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

BusinessWire release | Accenture | Oct 17, 2018 Digital-only banks, fintechs and big tech companies are quietly gaining customers, while incumbents struggle to make strategic investments in their digital future NEW YORK & LONDON & HONG KONG--(BUSINESS WIRE)--New entrants to the banking market — including challenger banks, non-bank payments institutions and big tech companies — are amassing up to one-third of new revenue, which is challenging the competitiveness of traditional banks, according to new research from Accenture (NYSE:ACN). “As the banking industry experiences radical change, driven by regulation, new entrants and demanding consumers, banks will need to reassess their assets, strengths and capabilities to determine if they are taking their business in the right direction” Accenture analyzed more than 20,000 banking and payments institutions across seven markets to quantify the level of change and disruption in the global banking industry. The study found that the number of banking and payments institutions decreased by nearly 20 percent over a 12-year period — from 24,000 in 2005 to less than 19,300 in 2017. However, nearly one in six (17 percent) current institutions are what Accenture considers new entrants — i.e., companies entering the market after 2005. While few of these new players ...
Read More
Banks’ Revenue Growth at Risk Due to Unprecedented Competitive Pressure Resulting from Digital Disruption, Accenture Study Finds
Forbes | Michael del Castillo | Oct 18, 2018 The U.S. Securities and Exchange Commission is launching a portal for engaging with companies using blockchain, artificial intelligence and more. Available today, the new fintech hub, or FinHub for short, is designed to bring the SEC’s existing services to a single access point and provide an easier way for companies to communicate with the public. As startups building with blockchain increasingly come under the SEC’s attention, the new portal has the potential to streamline the process of building compliant platforms prior to launch. The SEC’s FinHub will be led by Valerie A. Szczepanik, senior advisor for digital assets and innovation and associate director in the SEC’s Division of Corporation Finance. “We’ve been doing these things for years,” Szczepanik told Forbes. “This is going to bring it all together.” The FinHub will be staffed by representatives from the SEC’s divisions and offices who have expertise and involvement in fintech-related issues. See:  Canadian securities regulators provide additional guidance on securities law implications for offerings of tokens In addition to asking questions of the SEC, those who use the site will be able to request meetings. To increase engagement, a binary code “Easter egg” ...
Read More
SEC Launches Fintech Hub To Engage With Cryptocurrency Startups And More
Gowling WLG | Shaela W. Rae | October 17 2018 Black market. Dark web. Illicit. Underground market. Illegitimate. Illegal. Organized crime. All words used to describe the illegal cannabis industry, until October 17, 2018 that is. Once it is legal to buy, possess or use cannabis for recreational purposes the discussion around the use of cannabis and how to procure it changes from hushed words in a corner to an open conversation in public. But is the public ready to embrace a substance that has been seen as illegitimate and "bad" for so long? If the experience in the US can be relied upon, the answer is "yes". According to investment bank Cowen & Co., the cannabis industry is expected to reach sales of approximately US$75-billion by 2030, up from US$6-billion in 2016, as the drug is more socially accepted. In the US today cannabis is illegal on a federal level as it is classified as a Schedule 1 narcotic, but cannabis is legal in 30 states for medicinal purposes, and in 9 states and Washington, DC, for recreational use for adults over the age of 21. See:  Canabis Company True Leaf Raises $14 Million in Cross Border US – ...
Read More
Cannabis & blockchain: Bad romance or a perfect match?
International Monetary Fund | Release | Oct 11, 2018 The International Monetary Fund and the World Bank Group today launched the Bali Fintech Agenda, a set of 12 policy elements aimed at helping member countries to harness the benefits and opportunities of rapid advances in financial technology that are transforming the provision of banking services, while at the same time managing the inherent risks. The Agenda proposes a framework of high-level issues that countries should consider in their own domestic policy discussions and aims to guide staff from the two institutions in their own work and dialogue with national authorities. The 12 elements (see table) were distilled from members’ own experiences and cover topics relating broadly to enabling fintech; ensuring financial sector resilience; addressing risks; and promoting international cooperation. “There are an estimated 1.7 billion adults in the world without access to financial services,” said IMF Managing Director Christine Lagarde. “Fintech can have a major social and economic impact for them and across the membership in general. All countries are trying to reap these benefits, while also mitigating the risks. We need greater international cooperation to achieve that, and to make sure the fintech revolution benefits the many and not ...
Read More
The Bali Fintech Agenda: A Blueprint for Successfully Harnessing Fintech’s Opportunities
Investment Executive | James Langton | Oct 12, 2018 Money laundering and tax evasion are key concerns Canadian policy-makers initially took a hands-off approach to cryptoassets. Now, in the wake of a bitcoin boom-and-bust and continuing growth in the cryptoassets market, policy-makers are taking a second look at the emerging phenomenon. In 2015, the Standing Senate Committee on Banking, Trade and Commerce issued one of Canada’s first reports examining the emerging cryptocurrency industry; that report recommends that policy-makers keep an eye on the space. Since then, the cryptoassets market has continued to grow. According to a report from the Bank of Canada (BoC), the global market capitalization for cryptoassets “grew rapidly” in 2017 and the daily transaction volume now is more than 75 times higher than it was in early 2017 – i.e., more than $25 billion a day. At this point, the BoC report states, traditional financial services institutions don’t have much, if any, direct exposure to cryptoassets, but the report cautions that these institutions could become exposed due to their clients’ trading in cryptoassets or through exchange trading in crypto-based derivatives. “Cryptoasset markets are evolving quickly and could have financial stability implications in the future if their size ...
Read More
Exploring cryptoasset regulation
NCFA Canada | Oct 13, 2018 Ep13-Oct 13:  Road to Fintech IPO:  Capital Networks, Scalable Solutions, Putting People First About this episode:   On this episode, NCFA show host Manseeb Khan sits down with Ali Pourdad the CEO of Progressa who recently closed out an $84 million dollar round. They talk about P2P loans, loan services operating within the blockchain and why being people first business matters. Enjoy! (see Transcript) Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest:  ALI POURDAD, Co-founder and CEO, Progressa (LinkedIn) Bio:  Ali Pourdad has been CEO of Progressa since its inception in 2013. Under his leadership the Company has raised over $40 million of investor capital and invested over $2.0 million dollars in its proprietary "Powered by Progressa" decision engine for Canadian Enterprise partners looking to enhance collections strategy in a positive way. The company has grown to over 110 employees in Vancouver and Toronto. Ali has decisively positioned Progressa for its next generation of growth by recently executing on several initiatives, including creating one of Canada's most popular Exempt Market Bond Offerings and securing an $11.4 million Series A financing . Prior to co-founding Progressa, Ali worked in both corporate restructuring and audit & assurance, ...
Read More
FINTECH FRIDAY$ (EP.13-Oct 12):  Road to Fintech IPO:  Capital Networks, Scalable Solutions, Putting People First with Ali Pourdad, Co-founder and CEO Progressa
Beam Platform | Alec Gordon | Aug 24, 2018 THE PROBLEM The tech industry has gotten a rude awakening this year. Following a few high profile instances of data misuse, European Union has struck down the law and put everyone who sells into Europe (or deals with anyone who does) on notice. Since introduction, GDPR was meant to show both corporations and their users that better clarity around data collection/preservation is the necessary step forward, one that will lead to a fairer digital society, and ultimately benefit all those involved. And in order to do that, the companies themselves must take matters into their own hands by building new tools to let data flow back to the user. The customers demand it, and equally deserve to have control over their digital footprint. In the end this is an EU bill with global ramifications, and we should all be paying attention. By now you most of you have gotten dozens of emails on “updates to privacy policy” and other notices of forthcoming compliance. This is a welcome reminder that it is you, the user, who’s the focal point GDPR. After decades of computer and telephone use, the companies with whom we ...
Read More
Data is a 2-way street in a post-GDPR world
Competition Bureau | Oct 10, 2018 Speech Remarks by Interim Commissioner of Competition Matthew Boswell Global Series 2018 October 10, 2018 Ottawa, Ontario Thank you. I’m pleased to be here to speak with you today. Thank you Makan, for your thoughts on these important issues. They are particularly relevant to businesses, the legal community, academia and governments around the world and to all of you who are gathered here today. Every day we see the world evolving at a rapid pace, thanks to innovation.  Development of new technologies, ways of doing business and the creation of new products have the potential to open up new areas of science, medicine and technology. Small steps lead to bigger steps.  And here in Canada, we have to be ready for both the challenges and opportunities that this is bringing to all of us. Let’s understand what we are up against. Every year, innovation in the top industrialized countries is tracked by leading authorities on the subject. And here’s what they report about Canada in 2018. On the plus side, Canada performs better than some others in four big areas: Human Capital and Research, Institutions, Infrastructure, and Market Sophistication. See:  Canada’s ‘innovation economy’ has ...
Read More
Advancing Competition in a Changing Marketplace
Crowdfund Insider | Cali Haan | Oct 9, 2018 Vancouver-based cryptocurrency exchange QuadrigaCX has been defending itself in court for the release of $28 million dollars in customer funds frozen by the Canadian Imperial Bank of Commerce (CIBC) since January, the Globe and Mail reports. According to court documents filed by CIBC in the Canadian province of Ontario, the action to freeze the accounts was taken because the bank says, “it was unable to determine who owns the funds,” and would like the court to take possession of the money and distribute it to either QuadrigaCX, their payments processor Custodian Inc, or to the 388 affected Quadriga customers, the Globe and Mail writes. Entrepreneurs in the relatively new crypto sector industries complained for some time about bank non-cooperation. See:  International Anti-Money Laundering Standards for Crypto Expected in October The cryptocurrency press in South America has reported on numerous account closures by banks against crypto exchanges on the continent, some of which are now being contested in courts by, among others, exchanges like Walltime in Brazil. Sources within the Toronto crypto entrepreneur scene say they have suffered persistent problems with getting their businesses banked in the city- even at credit unions- and have ...
Read More
CIBC Has Frozen $28 Million of Vancouver Crypto Exchange’s Funds Since January
Crunchbase News | Alex Wilhelm | October 8, 2018 Meet Nubank, a fintech shop out of Brazil that just raised $180 million from Tencent at a valuation of $4 billion. Forget the fact that the round is half secondary. It’s an enormous transaction, and in more normal times, it would cause a big stir. However, the capital event highlights something notable about Tencent: the China-based company’s investment cadence is staggering. Tencent is disbursing cash at a far faster rate than Alibaba, another Chinese tech shop that isn’t famous for parsimony. Tencent’s Early Christmas Tencent has been on a check-cutting bing recently, getting through eight investing rounds in September. Those ranged from a $1.5 billion deal with Lianjia (real estate services), a $450 million round for MissFresh E-Commerce (mobile grocery sales), to the comparatively staid $90 million Series B for WeShare (fintech something or other). October is looking similarly hot. Tencent is at four deals so far, and the month isn’t even half done. Here’s the list: October 1. Miniso’s 1 billion rmb Series A. October 4. Voyager Innovation’s $175 million private equity round. October 5. Bilibili’s $317.6 million post-IPO equity event. October 8. Nubank’s $180 million Series F (half secondary). Regarding Nubank, TechCrunch’s Jon Shieber has the ...
Read More
Nubank Investment Underscores Tencent’s Quick Investing Pace

 

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Sue Britton, CEO & Founder of FGS, Joins the National Crowdfunding & Fintech Association of Canada’s Advisory Group

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About NCFA Canada | C. Asano | September 26, 2018

Sue Britton, Advisor, Corporate Innovation & Partnerships

TORONTO, Sep 26, 2018 – The National Crowdfunding & Fintech Association of Canada (NCFA) today announced that Sue Britton, CEO & Founder of the Fintech Growth Syndicate (FGS), has joined the Association`s national Advisory Group to advise in the areas of Fintech corporate innovation and partnerships (view).

Sue Britton is CEO & Founder of FGS (FinTech Growth Syndicate) – Canada’s leading FinTech innovation accelerator. FGS accelerates corporate innovation, growth of start-ups and strategy for those being disrupted by consumers changing needs or technology advancements.

Sue is a product innovation and growth strategy addict with a passion for customer needs and persevering to get new products to market to address them. Sue has spent her 25 year career in corporate roles in financial technology companies such as Finastra, Symcor, Broadridge Financial and Xerox, both before and after it was cool to be a FinTech. She launched FGS to address a market need: to provide the experts, tools and processes, and market knowledge to help the FinTech space move faster.

“There has never been a more critical time for Canada to move faster and innovate. The regulatory framework in Canada is impossible to navigate, and the oligopoly keeps things status quo. A collective voice is needed asap!” - Sue Britton, CEO & Founder, FGS

“The Canadian government needs to develop a national/regional strategy that fosters industry growth and opens up new channels and opportunities for fintechs full stop. We need a national political champion to step up and shine light on the economic potential, role, and wide sweeping impact that Canadian fintechs can have on consumers and businesses globally. Regulators need to recognize the importance of internationally competitive policies and how the opposite hurts innovation. Sue has been a consummate fintech advocate and brings insight, leadership and numerous partnerships to the table, and we whole heartedly welcome her and the FGS team on-board our collective mission.” – Craig Asano, CEO & Founder, NCFA

Source: NCFA

# # #

MEDIA CONTACTS:
Craig Asano
Founder and CEO
NCFA Canada
416 618 0254
casano@ncfacanada.org

 

About NCFA

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

 

About FinTech Growth Syndicate

FinTech Growth Syndicate is an accelerator that designs, implements and accelerates corporate innovation within established companies, and drives market expansion of new entrants and strategy of technology incumbents facing disruption. We are Canada’s Premier FinTech Advisory Firm. FGS brings the synergies between FinTech and Incumbents together, and is passionate about partnering and building a strong community.

Source: NCFA

# # #

 

MEDIA CONTACTS:
Craig Asano
Founder and CEO
NCFA Canada
416 618 0254
casano@ncfacanada.org


 

BusinessWire release | Accenture | Oct 17, 2018 Digital-only banks, fintechs and big tech companies are quietly gaining customers, while incumbents struggle to make strategic investments in their digital future NEW YORK & LONDON & HONG KONG--(BUSINESS WIRE)--New entrants to the banking market — including challenger banks, non-bank payments institutions and big tech companies — are amassing up to one-third of new revenue, which is challenging the competitiveness of traditional banks, according to new research from Accenture (NYSE:ACN). “As the banking industry experiences radical change, driven by regulation, new entrants and demanding consumers, banks will need to reassess their assets, strengths and capabilities to determine if they are taking their business in the right direction” Accenture analyzed more than 20,000 banking and payments institutions across seven markets to quantify the level of change and disruption in the global banking industry. The study found that the number of banking and payments institutions decreased by nearly 20 percent over a 12-year period — from 24,000 in 2005 to less than 19,300 in 2017. However, nearly one in six (17 percent) current institutions are what Accenture considers new entrants — i.e., companies entering the market after 2005. While few of these new players ...
Read More
Banks’ Revenue Growth at Risk Due to Unprecedented Competitive Pressure Resulting from Digital Disruption, Accenture Study Finds
Forbes | Michael del Castillo | Oct 18, 2018 The U.S. Securities and Exchange Commission is launching a portal for engaging with companies using blockchain, artificial intelligence and more. Available today, the new fintech hub, or FinHub for short, is designed to bring the SEC’s existing services to a single access point and provide an easier way for companies to communicate with the public. As startups building with blockchain increasingly come under the SEC’s attention, the new portal has the potential to streamline the process of building compliant platforms prior to launch. The SEC’s FinHub will be led by Valerie A. Szczepanik, senior advisor for digital assets and innovation and associate director in the SEC’s Division of Corporation Finance. “We’ve been doing these things for years,” Szczepanik told Forbes. “This is going to bring it all together.” The FinHub will be staffed by representatives from the SEC’s divisions and offices who have expertise and involvement in fintech-related issues. See:  Canadian securities regulators provide additional guidance on securities law implications for offerings of tokens In addition to asking questions of the SEC, those who use the site will be able to request meetings. To increase engagement, a binary code “Easter egg” ...
Read More
SEC Launches Fintech Hub To Engage With Cryptocurrency Startups And More
Gowling WLG | Shaela W. Rae | October 17 2018 Black market. Dark web. Illicit. Underground market. Illegitimate. Illegal. Organized crime. All words used to describe the illegal cannabis industry, until October 17, 2018 that is. Once it is legal to buy, possess or use cannabis for recreational purposes the discussion around the use of cannabis and how to procure it changes from hushed words in a corner to an open conversation in public. But is the public ready to embrace a substance that has been seen as illegitimate and "bad" for so long? If the experience in the US can be relied upon, the answer is "yes". According to investment bank Cowen & Co., the cannabis industry is expected to reach sales of approximately US$75-billion by 2030, up from US$6-billion in 2016, as the drug is more socially accepted. In the US today cannabis is illegal on a federal level as it is classified as a Schedule 1 narcotic, but cannabis is legal in 30 states for medicinal purposes, and in 9 states and Washington, DC, for recreational use for adults over the age of 21. See:  Canabis Company True Leaf Raises $14 Million in Cross Border US – ...
Read More
Cannabis & blockchain: Bad romance or a perfect match?
International Monetary Fund | Release | Oct 11, 2018 The International Monetary Fund and the World Bank Group today launched the Bali Fintech Agenda, a set of 12 policy elements aimed at helping member countries to harness the benefits and opportunities of rapid advances in financial technology that are transforming the provision of banking services, while at the same time managing the inherent risks. The Agenda proposes a framework of high-level issues that countries should consider in their own domestic policy discussions and aims to guide staff from the two institutions in their own work and dialogue with national authorities. The 12 elements (see table) were distilled from members’ own experiences and cover topics relating broadly to enabling fintech; ensuring financial sector resilience; addressing risks; and promoting international cooperation. “There are an estimated 1.7 billion adults in the world without access to financial services,” said IMF Managing Director Christine Lagarde. “Fintech can have a major social and economic impact for them and across the membership in general. All countries are trying to reap these benefits, while also mitigating the risks. We need greater international cooperation to achieve that, and to make sure the fintech revolution benefits the many and not ...
Read More
The Bali Fintech Agenda: A Blueprint for Successfully Harnessing Fintech’s Opportunities
Investment Executive | James Langton | Oct 12, 2018 Money laundering and tax evasion are key concerns Canadian policy-makers initially took a hands-off approach to cryptoassets. Now, in the wake of a bitcoin boom-and-bust and continuing growth in the cryptoassets market, policy-makers are taking a second look at the emerging phenomenon. In 2015, the Standing Senate Committee on Banking, Trade and Commerce issued one of Canada’s first reports examining the emerging cryptocurrency industry; that report recommends that policy-makers keep an eye on the space. Since then, the cryptoassets market has continued to grow. According to a report from the Bank of Canada (BoC), the global market capitalization for cryptoassets “grew rapidly” in 2017 and the daily transaction volume now is more than 75 times higher than it was in early 2017 – i.e., more than $25 billion a day. At this point, the BoC report states, traditional financial services institutions don’t have much, if any, direct exposure to cryptoassets, but the report cautions that these institutions could become exposed due to their clients’ trading in cryptoassets or through exchange trading in crypto-based derivatives. “Cryptoasset markets are evolving quickly and could have financial stability implications in the future if their size ...
Read More
Exploring cryptoasset regulation
NCFA Canada | Oct 13, 2018 Ep13-Oct 13:  Road to Fintech IPO:  Capital Networks, Scalable Solutions, Putting People First About this episode:   On this episode, NCFA show host Manseeb Khan sits down with Ali Pourdad the CEO of Progressa who recently closed out an $84 million dollar round. They talk about P2P loans, loan services operating within the blockchain and why being people first business matters. Enjoy! (see Transcript) Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest:  ALI POURDAD, Co-founder and CEO, Progressa (LinkedIn) Bio:  Ali Pourdad has been CEO of Progressa since its inception in 2013. Under his leadership the Company has raised over $40 million of investor capital and invested over $2.0 million dollars in its proprietary "Powered by Progressa" decision engine for Canadian Enterprise partners looking to enhance collections strategy in a positive way. The company has grown to over 110 employees in Vancouver and Toronto. Ali has decisively positioned Progressa for its next generation of growth by recently executing on several initiatives, including creating one of Canada's most popular Exempt Market Bond Offerings and securing an $11.4 million Series A financing . Prior to co-founding Progressa, Ali worked in both corporate restructuring and audit & assurance, ...
Read More
FINTECH FRIDAY$ (EP.13-Oct 12):  Road to Fintech IPO:  Capital Networks, Scalable Solutions, Putting People First with Ali Pourdad, Co-founder and CEO Progressa
Beam Platform | Alec Gordon | Aug 24, 2018 THE PROBLEM The tech industry has gotten a rude awakening this year. Following a few high profile instances of data misuse, European Union has struck down the law and put everyone who sells into Europe (or deals with anyone who does) on notice. Since introduction, GDPR was meant to show both corporations and their users that better clarity around data collection/preservation is the necessary step forward, one that will lead to a fairer digital society, and ultimately benefit all those involved. And in order to do that, the companies themselves must take matters into their own hands by building new tools to let data flow back to the user. The customers demand it, and equally deserve to have control over their digital footprint. In the end this is an EU bill with global ramifications, and we should all be paying attention. By now you most of you have gotten dozens of emails on “updates to privacy policy” and other notices of forthcoming compliance. This is a welcome reminder that it is you, the user, who’s the focal point GDPR. After decades of computer and telephone use, the companies with whom we ...
Read More
Data is a 2-way street in a post-GDPR world
Competition Bureau | Oct 10, 2018 Speech Remarks by Interim Commissioner of Competition Matthew Boswell Global Series 2018 October 10, 2018 Ottawa, Ontario Thank you. I’m pleased to be here to speak with you today. Thank you Makan, for your thoughts on these important issues. They are particularly relevant to businesses, the legal community, academia and governments around the world and to all of you who are gathered here today. Every day we see the world evolving at a rapid pace, thanks to innovation.  Development of new technologies, ways of doing business and the creation of new products have the potential to open up new areas of science, medicine and technology. Small steps lead to bigger steps.  And here in Canada, we have to be ready for both the challenges and opportunities that this is bringing to all of us. Let’s understand what we are up against. Every year, innovation in the top industrialized countries is tracked by leading authorities on the subject. And here’s what they report about Canada in 2018. On the plus side, Canada performs better than some others in four big areas: Human Capital and Research, Institutions, Infrastructure, and Market Sophistication. See:  Canada’s ‘innovation economy’ has ...
Read More
Advancing Competition in a Changing Marketplace
Crowdfund Insider | Cali Haan | Oct 9, 2018 Vancouver-based cryptocurrency exchange QuadrigaCX has been defending itself in court for the release of $28 million dollars in customer funds frozen by the Canadian Imperial Bank of Commerce (CIBC) since January, the Globe and Mail reports. According to court documents filed by CIBC in the Canadian province of Ontario, the action to freeze the accounts was taken because the bank says, “it was unable to determine who owns the funds,” and would like the court to take possession of the money and distribute it to either QuadrigaCX, their payments processor Custodian Inc, or to the 388 affected Quadriga customers, the Globe and Mail writes. Entrepreneurs in the relatively new crypto sector industries complained for some time about bank non-cooperation. See:  International Anti-Money Laundering Standards for Crypto Expected in October The cryptocurrency press in South America has reported on numerous account closures by banks against crypto exchanges on the continent, some of which are now being contested in courts by, among others, exchanges like Walltime in Brazil. Sources within the Toronto crypto entrepreneur scene say they have suffered persistent problems with getting their businesses banked in the city- even at credit unions- and have ...
Read More
CIBC Has Frozen $28 Million of Vancouver Crypto Exchange’s Funds Since January
Crunchbase News | Alex Wilhelm | October 8, 2018 Meet Nubank, a fintech shop out of Brazil that just raised $180 million from Tencent at a valuation of $4 billion. Forget the fact that the round is half secondary. It’s an enormous transaction, and in more normal times, it would cause a big stir. However, the capital event highlights something notable about Tencent: the China-based company’s investment cadence is staggering. Tencent is disbursing cash at a far faster rate than Alibaba, another Chinese tech shop that isn’t famous for parsimony. Tencent’s Early Christmas Tencent has been on a check-cutting bing recently, getting through eight investing rounds in September. Those ranged from a $1.5 billion deal with Lianjia (real estate services), a $450 million round for MissFresh E-Commerce (mobile grocery sales), to the comparatively staid $90 million Series B for WeShare (fintech something or other). October is looking similarly hot. Tencent is at four deals so far, and the month isn’t even half done. Here’s the list: October 1. Miniso’s 1 billion rmb Series A. October 4. Voyager Innovation’s $175 million private equity round. October 5. Bilibili’s $317.6 million post-IPO equity event. October 8. Nubank’s $180 million Series F (half secondary). Regarding Nubank, TechCrunch’s Jon Shieber has the ...
Read More
Nubank Investment Underscores Tencent’s Quick Investing Pace

 

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Immersive 2-day Blockchain Developer Training Course (Nov 10-11, Toronto): Decentralized Application Development

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Blockchain is here – so what next?

The Blockchain Developer Opportunity

If you are a software engineer interested in emerging high growth project opportunities, you’ll want to ensure your technical skills are polished and you have access to proper training and resources. There is a significant shortage of skilled Blockchain developers unable to meet the demand of emerging projects! NCFA is pleased to announce an inaugural educational partnership with the Blockchain Learning Group offering a special introductory rate to attend an immersive, 2-day Blockchain developer training course on decentralized application development to help fill the gap of skilled engineers while connecting graduates to project opportunities.

According to a recent 2018 PwC survey, 84% of 600 executive responders confirmed some involvement with Blockchain technology from proof of concepts to well capitalized international scale-ups and incumbents looking to modernize legacy systems. Distributed and immutable ledger applications are evolving rapidly with uses cases that improve trust and transparency for many business processes while distributing transactions to a decentralized network in a way that reduces costs and eliminates intermediaries. While crypto markets have exceeded $200 billion in just the last 2 years alone, the underlying technology is forecasted to disrupt almost every vertical with annual business value of more than US$3 trillion by 2030.

 

2 Day Immersive, Blockchain Developer Training Course: Decentralized Application Development

Day 1: 9:30am - 4:00pm on Saturday November 10, 2018

Day 2: 9:30am - 4:00pm on Sunday November 11, 2018

Location:  1240 Bay Street, Suite 501, Toronto, M5R 2A7 (NCFA Office)

Registration:

Special introductory rate of $1250 + HST

Limited capacity: 15 seats (small hands-on classroom)

20% Early bird discount for first 5 registrations

Pay in crypto? Email:  info@ncfacanada.org

Lunch is provided both days.  Bring your laptop!

Location subject to change (Downtown Toronto Area)

Refunds accepted by Oct 31.  After Oct 31 credit can be requested.


Course Description:

An immersive, hands on 2-day course in Blockchain technology, with a focus on decentralized application (DApp) development. From the basics of Blockchain technology to in-depth explorations of use cases and smart contract development patterns.  Additionally, a deep dive into utilizing the Ethereum platform to build powerful and impactful applications. The course is facilitated by a BLG trainer and utilizes a combination of theoretical and practical instruction and incorporates the following modules:

 

Day 1 Outline:  Blockchain Fundamentals

Blockchain theory and fundamentals, followed by a detailed look under the hood and followed by a deep dive into Ethereum and smart contracts. Participants will view, and interact with, Blockchain networks and complete multiple smart contract exercises.

  • Introductions
  • History of Databases, WWW, Cryptography
  • What is Blockchain
  • How it Works
  • Blockchain Types
  • Ethereum Explained
  • Use Cases and Implications
  • Smart Contract Exercises

 

Day 2 Outline: Introduction to DApp Development

Exploration of state-of-the-art DApp development and Blockchain tools so that participants can effectively create, test, deploy, and interact with several solidity smart contracts from within a DApp. Participants will create their very own DApp, ranging from an ERC20 enabled wallet to a functional decentralized exchange.

  • Introduction to DApps
  • DApps Explained and Frameworks
  • Development Architecture
  • Security Considerations
  • Deployment Techniques
  • Account Management
  • DApp Development

 


REGISTRATION OPTIONS:

1. Register NOW on Eventbrite

2. Pay Direct NOW and Save Platform Registration fees


Who Should Attend?  Developers!

  1. At least 1 year of programming or software development experience is required!
  2. Have experience or some exposure creating Web Apps? Fairly decent with Javascript? Interested in developing a solid foundation in Blockchain Technology in just two days?

If you answered yes to some or all of the above, then you are very likely a good fit for this course!

For those with minimal software development, specifically web experience, the resources attached below are recommended to review prior to the course start:

  1. Object destructing: https://developer.mozilla.org/en-US/docs/Web/JavaScript/Reference/Operators/Destructuring_assignment#Object_destructuring
  2. Arrow functions: https://developer.mozilla.org/en-US/docs/Web/JavaScript/Reference/Functions/Arrow_functions

 

What you will get out of this course?

  • A deep understanding of Blockchain technology, smart contracts and DApps, including hands-on experience in full stack decentralized application development
  • A clear grasp of how Blockchain technology works, the key components and actors
  • Ultimately, a truly immersive course that will give you the confidence to continue your Blockchain development journey!

 

Why you should attend this course?

  1. Blockchain technology is booming and here to stay with lucrative job and market development opportunities
  • Disruptive cutting-edge technology with global impact
  • Wide range of applications and use cases from commercial banking and financial services to real estate, healthcare, voting, government and travel.
  • Canada is an early global leader and home to many notable Blockchain/crypto projects and groups paving the way for the next cohort
  1. Globally Tested Program and Top Trainer
  • Global leader in Blockchain developer training on Ethereum with organizations like TMX Group, AGL Energy, Ontario government, and the UNDP (United Nations Development Programme
  • Highly experienced trainer with real-world enterprise DApp project development experience for global clientele
  • Finally a Blockchain development course designed for developers, by developers!
  1. Special Introductory Offer for NCFAs community (Save time & money)
  • Small class size - limited capacity (15 seats max) – register today
  • Intensive weekend course format (hands-on weekend training; no time off work)
  • Great comparable value

 

 What Students Who Took the Course are Saying

“I had been very interested in Blockchain and all its potential, but the technical aspect seemed daunting- out of my scope of understanding. In two short days. I was taught to think differently and came out with a whole new mindset due to the immersive hands-on learning experience Blockchain Learning Group provided. Their instructors broke down the content well enough so that I could easily digest it, but at the same time, maintained a level of challenge and moved through the material very quickly in order to cover a lot in the limited time. The instructors were patient, eager to help, and I felt very comfortable in their learning environment, and as a result, I took away a lot from the experience. With well-planned out course material and excellent instructors, I would recommend the course to anyone looking to dive in head first into the space."

“The Blockchain Learning Group delivered a workshop that was incredibly informative, and well-organized. They provided a structure that included both an understanding of Blockchain technology and decentralized applications, as well as an immersive method to building your own tokens and wallets. The instructors were extremely supportive throughout the entire process, and very eager to ensure that we received the most out of this opportunity. For both coders and non-coders, beginners and intermediates, this workshop is exceptionally beneficial to augment your understanding of DApps!

What Corporate Trainers are Saying

“Their approach to Blockchain education – combining developer training with business ideation and facilitating the actual Application Development - is by far the most immersive, responsive and action-oriented training program we have seen in the market. Their approach is underpinned by a deep understanding of how to efficiently leverage Blockchain for business coupled with a seamless training regimen. Our developers who participated in the education program were amazed at how much practical knowledge they acquired in such a short period of time!”

"Wow. Just wow. Before the training, our students had a rudimentary understanding of Blockchain technologies. Only a few weeks later they are building multiple decentralized applications and becoming young thought leaders in such a short period of time! Adam and the team were phenomenal facilitators. Not only were they incredibly knowledgeable, but they knew how to deliver the content to different audiences who might have had various levels of coding experience and Blockchain understanding. How they were able to provide a personalized experience to a group of young people was very impressive.”

 Limited Capacity - RESERVE YOUR SEAT TODAY!

 

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 and 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

About The Blockchain Learning Group (BLG)

The Blockchain Learning Group provides individuals and organizations with an education-based vehicle to jumpstart their Blockchain strategies by increasing their technical bench strength and creating real-world applications within a minimum period of time.  They work with leading organizations globally to facilitate comprehensive, hands-on courses aimed at the developer base - and the organizations that they belong to – in order to provide them with the knowledge, tools and confidence to make an immediate impact with their Blockchain projects.  For more information, please visit:  https://blockchainlearninggroup.com/

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Q&A with New Industry Partner Mathieu Glaude, CEO and Co-founder of Northern Block

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NCFA Canada | Sep 11, 2018

Industry partners are the cornerstone of all NCFA industry building initiatives and programs.  As such, we're thrilled to announce NCFAs newest industry partner, Northern Block, a leading blockchain technology development firm based in Toronto who is building next generation blockchain ventures.  Below is the transcript of an interview that NCFA Founding CEO, Craig Asano, recently held with the CEO and Co-founder of Northern Block, Mathieu Glaude:

NCFA: Can you tell me about yourself and about Northern Block?

Mathieu Glaude, CEO, Co-founder, Northern Block

Mathieu:  Hi, my name is Mathieu Glaude. I’m the CEO of Northern Block, a blockchain product development firm. I’ve always had a curiosity for emerging technologies and would definitely consider myself an early adopter. While working at Capital One Bank, I had the opportunity to be involved in many large projects that involved building scalable solutions leveraging microservice architectures, which in turn allowed me to dabble with big data and AI components in order to tailor servicing experiences to the customer. I had had some coding experiences but found myself really enjoying product management.  Being able to see a product go from ideation phase to being complete and used by actual customers felt very rewarding, and I enjoyed working horizontally across the business with various teams to execute on projects. While still at Capital One, I found out about blockchain technologies. It started with reading about it, then going out to networking events almost every day to learn more; you know, the common blockchain/crypto rabbit hole story.

 

I had never been more excited about a technological innovation and felt a calling to dedicate myself to it and help move the needle. Knowing I could use my product development background to build software in the blockchain space, I quit my job and founded Northern Block.

 

NCFA: Can you provide an overview of Northern Block’s growth to date and future roadmap?

Mathieu:  When my co-founder Sasha and myself founded the company, our goal was to build a blockchain-focused service company. We both noticed a high demand for projects, but a lack of firms in the space that were capable of executing. Although we had some visions for products at the time, we decided the service model would be ideal to gain an insightful perspective on the landscape, while continuing to learn and ramp up on the technology itself. It also of course allowed us to generate sustainable cash flow to grow our business! We got into the space in the middle of a hype cycle so we saw lots of investments being made and companies growing at rapid paces. We stuck to our plan and built a solid foundation. We’ve been tremendously lucky with the team that’s joined Northern Block. Every individual brings a passion and knowledge about blockchain that helps set us apart from other development firms.

 

NCFA: What type of clients do you work with?  What industries are ripe for disruption and the leading use cases out there today?

Mathieu:  The most important thing for us when choosing a client is their openness to learn and think outside of the box. With blockchain technologies, we’re not really changing processes by creating efficiencies, we’re radically flipping business models upside down. Being able to take a step back and accepting that the way things are done today are not the only way they can be done are a great first step. We’re in the game of building decentralized products that return data ownership rights to the users.

When we first started out, we built many proof-of-concept applications for larger enterprise clients. They often have innovation budgets to toy around with new technologies and they definitely understand the impact that blockchain can have in their industries. They definitely have an appetite to build proof-of-concepts. However, coming from a large enterprise, we realize how difficult it is to aggressively move innovative projects out of a sandbox environment and test with some of their real users. There’s lots of barriers in these companies for various reasons, maybe a topic for another discussion.

We began to believe that the true innovation would happen outside of the larger companies, similar to what you saw and are seeing in the fintech space. It starts outside and eventually there is market consolidation.

"We switched our focus at small to medium sized businesses who already have a successful business model with a client base. These businesses realize that their industries are ripe for disruption and they want to be at the forefront of it."

We don’t target specific industries, although our track record shows we’ve done lots of work in the financial space. We enjoy working across diverse industries because it allows us to come up with innovations we never would have thought about if we hadn’t had those experiences. As long as we know we’re ultimately going to create value for the end user and the client sees that as well, we’re willing to dip our toes in a new space. We’ve worked with all sorts of clients. Their businesses range from payment remittances, to supply chain tracking, to digital identity, to tracking the provenance of firearms. All over the place!

Tune in:  FINTECH FRIDAY$ immerse yourself in a Storytelling journey every Friday - Join the conversation!

NCFA: What excites you when you arrive at work each day (and what’s the most challenging part of the job)?

Mathieu:  Definitely the drive and passion of the twenty or so people on our team. Everyone continuously pushes themselves to learn new things so we can gain an edge in how we architect our solutions. I learn from them every day. The teams are self-organizing and are able to create value to our clients directly. Everyone has so much potential, and all we want to do is help them achieve their career goals.

As for the most challenging aspect of the job, it definitely has to do with learning as well. Running a business has its own challenges and ensuring that the products we’re building are built in a way that allows for scale is challenging on its own. At the same time, it’s important for us to still find time to read, explore, and learn new things. The space that we’re in is evolving so fast and to stay ahead of the curb, we need to ensure we’re continually learning.

NCFA:  Do you think the market is overhyped and if so why or why not?  Let’s talk about in production versus smoke and mirrors.

Mathieu:  We’re in an interesting phase in the market right now. Last year we saw tremendous growth in the overall crypto market as everyone and their mother was hopping into an ICO to raise money for their project that promised to ‘revolutionize’ a certain industry. We’re now seeing that most of these projects aren’t meeting their goals and falling apart. It has caused the whole market to turn bear over the past nine months, and we’re seeing less noise. We actually like this because it takes people’s minds away from thinking about making a quick buck off of crypto trading, and more about truly building products that solve real-world problems. I personally still think the market is still a bit over valued at the moment, even with the prices falling this year. The other day I had a look at CoinMarketCap, and noticed that there are still more than fifty projects valued over a hundred million US dollars. Those numbers are over inflated if you examine how much value they’re actually creating. Mind you, there are some very interesting projects that we’re excited about, but in full honesty, no one has delivered near enough value to the ecosystem to justify those valuations.

 

NCFA: What’s your crystal ball on the future of blockchain technology?

Mathieu:  We’re obviously very bullish on the whole space, which is why we’re here. We think that we’re going to see a random industry that no one is thinking about get completely disrupted by blockchain technologies, and this will tip the domino. We think that many use cases have not yet been identified because we haven’t learned enough from experiments to see what is possible.

"We think that interoperability between blockchains is going to play a big part in scaling solutions. When you look at it, you realize that not every computation in a solution needs to be run on a specific blockchain, or a blockchain at all. When you break down the problems you’re trying to solve for, you realize that maybe one blockchain is suitable for running smart contracts, but another one is better for holding value, or privacy of data, etc. We think that we’ll start seeing more hybrid blockchain implementations of solutions."

Everything is still a huge experiment.

 

NCFA: Last question, if you could choose anything else to do, what would it be?

Mathieu:  I would have loved to be a professional hockey player but that ship has sailed. Maybe I could still be a fighter? Actually, there’s almost no more fighting in hockey so maybe I’m better off here.

 

NCFA:  thanks so much for your time and support Mathieu, we look forward to working together.

Mathieu:  ditto!


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

BusinessWire release | Accenture | Oct 17, 2018 Digital-only banks, fintechs and big tech companies are quietly gaining customers, while incumbents struggle to make strategic investments in their digital future NEW YORK & LONDON & HONG KONG--(BUSINESS WIRE)--New entrants to the banking market — including challenger banks, non-bank payments institutions and big tech companies — are amassing up to one-third of new revenue, which is challenging the competitiveness of traditional banks, according to new research from Accenture (NYSE:ACN). “As the banking industry experiences radical change, driven by regulation, new entrants and demanding consumers, banks will need to reassess their assets, strengths and capabilities to determine if they are taking their business in the right direction” Accenture analyzed more than 20,000 banking and payments institutions across seven markets to quantify the level of change and disruption in the global banking industry. The study found that the number of banking and payments institutions decreased by nearly 20 percent over a 12-year period — from 24,000 in 2005 to less than 19,300 in 2017. However, nearly one in six (17 percent) current institutions are what Accenture considers new entrants — i.e., companies entering the market after 2005. While few of these new players ...
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Banks’ Revenue Growth at Risk Due to Unprecedented Competitive Pressure Resulting from Digital Disruption, Accenture Study Finds
Forbes | Michael del Castillo | Oct 18, 2018 The U.S. Securities and Exchange Commission is launching a portal for engaging with companies using blockchain, artificial intelligence and more. Available today, the new fintech hub, or FinHub for short, is designed to bring the SEC’s existing services to a single access point and provide an easier way for companies to communicate with the public. As startups building with blockchain increasingly come under the SEC’s attention, the new portal has the potential to streamline the process of building compliant platforms prior to launch. The SEC’s FinHub will be led by Valerie A. Szczepanik, senior advisor for digital assets and innovation and associate director in the SEC’s Division of Corporation Finance. “We’ve been doing these things for years,” Szczepanik told Forbes. “This is going to bring it all together.” The FinHub will be staffed by representatives from the SEC’s divisions and offices who have expertise and involvement in fintech-related issues. See:  Canadian securities regulators provide additional guidance on securities law implications for offerings of tokens In addition to asking questions of the SEC, those who use the site will be able to request meetings. To increase engagement, a binary code “Easter egg” ...
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SEC Launches Fintech Hub To Engage With Cryptocurrency Startups And More
Gowling WLG | Shaela W. Rae | October 17 2018 Black market. Dark web. Illicit. Underground market. Illegitimate. Illegal. Organized crime. All words used to describe the illegal cannabis industry, until October 17, 2018 that is. Once it is legal to buy, possess or use cannabis for recreational purposes the discussion around the use of cannabis and how to procure it changes from hushed words in a corner to an open conversation in public. But is the public ready to embrace a substance that has been seen as illegitimate and "bad" for so long? If the experience in the US can be relied upon, the answer is "yes". According to investment bank Cowen & Co., the cannabis industry is expected to reach sales of approximately US$75-billion by 2030, up from US$6-billion in 2016, as the drug is more socially accepted. In the US today cannabis is illegal on a federal level as it is classified as a Schedule 1 narcotic, but cannabis is legal in 30 states for medicinal purposes, and in 9 states and Washington, DC, for recreational use for adults over the age of 21. See:  Canabis Company True Leaf Raises $14 Million in Cross Border US – ...
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Cannabis & blockchain: Bad romance or a perfect match?
International Monetary Fund | Release | Oct 11, 2018 The International Monetary Fund and the World Bank Group today launched the Bali Fintech Agenda, a set of 12 policy elements aimed at helping member countries to harness the benefits and opportunities of rapid advances in financial technology that are transforming the provision of banking services, while at the same time managing the inherent risks. The Agenda proposes a framework of high-level issues that countries should consider in their own domestic policy discussions and aims to guide staff from the two institutions in their own work and dialogue with national authorities. The 12 elements (see table) were distilled from members’ own experiences and cover topics relating broadly to enabling fintech; ensuring financial sector resilience; addressing risks; and promoting international cooperation. “There are an estimated 1.7 billion adults in the world without access to financial services,” said IMF Managing Director Christine Lagarde. “Fintech can have a major social and economic impact for them and across the membership in general. All countries are trying to reap these benefits, while also mitigating the risks. We need greater international cooperation to achieve that, and to make sure the fintech revolution benefits the many and not ...
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The Bali Fintech Agenda: A Blueprint for Successfully Harnessing Fintech’s Opportunities
Investment Executive | James Langton | Oct 12, 2018 Money laundering and tax evasion are key concerns Canadian policy-makers initially took a hands-off approach to cryptoassets. Now, in the wake of a bitcoin boom-and-bust and continuing growth in the cryptoassets market, policy-makers are taking a second look at the emerging phenomenon. In 2015, the Standing Senate Committee on Banking, Trade and Commerce issued one of Canada’s first reports examining the emerging cryptocurrency industry; that report recommends that policy-makers keep an eye on the space. Since then, the cryptoassets market has continued to grow. According to a report from the Bank of Canada (BoC), the global market capitalization for cryptoassets “grew rapidly” in 2017 and the daily transaction volume now is more than 75 times higher than it was in early 2017 – i.e., more than $25 billion a day. At this point, the BoC report states, traditional financial services institutions don’t have much, if any, direct exposure to cryptoassets, but the report cautions that these institutions could become exposed due to their clients’ trading in cryptoassets or through exchange trading in crypto-based derivatives. “Cryptoasset markets are evolving quickly and could have financial stability implications in the future if their size ...
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NCFA Canada | Oct 13, 2018 Ep13-Oct 13:  Road to Fintech IPO:  Capital Networks, Scalable Solutions, Putting People First About this episode:   On this episode, NCFA show host Manseeb Khan sits down with Ali Pourdad the CEO of Progressa who recently closed out an $84 million dollar round. They talk about P2P loans, loan services operating within the blockchain and why being people first business matters. Enjoy! (see Transcript) Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest:  ALI POURDAD, Co-founder and CEO, Progressa (LinkedIn) Bio:  Ali Pourdad has been CEO of Progressa since its inception in 2013. Under his leadership the Company has raised over $40 million of investor capital and invested over $2.0 million dollars in its proprietary "Powered by Progressa" decision engine for Canadian Enterprise partners looking to enhance collections strategy in a positive way. The company has grown to over 110 employees in Vancouver and Toronto. Ali has decisively positioned Progressa for its next generation of growth by recently executing on several initiatives, including creating one of Canada's most popular Exempt Market Bond Offerings and securing an $11.4 million Series A financing . Prior to co-founding Progressa, Ali worked in both corporate restructuring and audit & assurance, ...
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FINTECH FRIDAY$ (EP.13-Oct 12):  Road to Fintech IPO:  Capital Networks, Scalable Solutions, Putting People First with Ali Pourdad, Co-founder and CEO Progressa
Beam Platform | Alec Gordon | Aug 24, 2018 THE PROBLEM The tech industry has gotten a rude awakening this year. Following a few high profile instances of data misuse, European Union has struck down the law and put everyone who sells into Europe (or deals with anyone who does) on notice. Since introduction, GDPR was meant to show both corporations and their users that better clarity around data collection/preservation is the necessary step forward, one that will lead to a fairer digital society, and ultimately benefit all those involved. And in order to do that, the companies themselves must take matters into their own hands by building new tools to let data flow back to the user. The customers demand it, and equally deserve to have control over their digital footprint. In the end this is an EU bill with global ramifications, and we should all be paying attention. By now you most of you have gotten dozens of emails on “updates to privacy policy” and other notices of forthcoming compliance. This is a welcome reminder that it is you, the user, who’s the focal point GDPR. After decades of computer and telephone use, the companies with whom we ...
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Data is a 2-way street in a post-GDPR world
Competition Bureau | Oct 10, 2018 Speech Remarks by Interim Commissioner of Competition Matthew Boswell Global Series 2018 October 10, 2018 Ottawa, Ontario Thank you. I’m pleased to be here to speak with you today. Thank you Makan, for your thoughts on these important issues. They are particularly relevant to businesses, the legal community, academia and governments around the world and to all of you who are gathered here today. Every day we see the world evolving at a rapid pace, thanks to innovation.  Development of new technologies, ways of doing business and the creation of new products have the potential to open up new areas of science, medicine and technology. Small steps lead to bigger steps.  And here in Canada, we have to be ready for both the challenges and opportunities that this is bringing to all of us. Let’s understand what we are up against. Every year, innovation in the top industrialized countries is tracked by leading authorities on the subject. And here’s what they report about Canada in 2018. On the plus side, Canada performs better than some others in four big areas: Human Capital and Research, Institutions, Infrastructure, and Market Sophistication. See:  Canada’s ‘innovation economy’ has ...
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Advancing Competition in a Changing Marketplace
Crowdfund Insider | Cali Haan | Oct 9, 2018 Vancouver-based cryptocurrency exchange QuadrigaCX has been defending itself in court for the release of $28 million dollars in customer funds frozen by the Canadian Imperial Bank of Commerce (CIBC) since January, the Globe and Mail reports. According to court documents filed by CIBC in the Canadian province of Ontario, the action to freeze the accounts was taken because the bank says, “it was unable to determine who owns the funds,” and would like the court to take possession of the money and distribute it to either QuadrigaCX, their payments processor Custodian Inc, or to the 388 affected Quadriga customers, the Globe and Mail writes. Entrepreneurs in the relatively new crypto sector industries complained for some time about bank non-cooperation. See:  International Anti-Money Laundering Standards for Crypto Expected in October The cryptocurrency press in South America has reported on numerous account closures by banks against crypto exchanges on the continent, some of which are now being contested in courts by, among others, exchanges like Walltime in Brazil. Sources within the Toronto crypto entrepreneur scene say they have suffered persistent problems with getting their businesses banked in the city- even at credit unions- and have ...
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Crunchbase News | Alex Wilhelm | October 8, 2018 Meet Nubank, a fintech shop out of Brazil that just raised $180 million from Tencent at a valuation of $4 billion. Forget the fact that the round is half secondary. It’s an enormous transaction, and in more normal times, it would cause a big stir. However, the capital event highlights something notable about Tencent: the China-based company’s investment cadence is staggering. Tencent is disbursing cash at a far faster rate than Alibaba, another Chinese tech shop that isn’t famous for parsimony. Tencent’s Early Christmas Tencent has been on a check-cutting bing recently, getting through eight investing rounds in September. Those ranged from a $1.5 billion deal with Lianjia (real estate services), a $450 million round for MissFresh E-Commerce (mobile grocery sales), to the comparatively staid $90 million Series B for WeShare (fintech something or other). October is looking similarly hot. Tencent is at four deals so far, and the month isn’t even half done. Here’s the list: October 1. Miniso’s 1 billion rmb Series A. October 4. Voyager Innovation’s $175 million private equity round. October 5. Bilibili’s $317.6 million post-IPO equity event. October 8. Nubank’s $180 million Series F (half secondary). Regarding Nubank, TechCrunch’s Jon Shieber has the ...
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Nubank Investment Underscores Tencent’s Quick Investing Pace

 

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FINTECH FRIDAY$ (EP.3-Aug 3): Investing in Canadian Diversity with Peggy Van De Plassche, Founding Partner at Roar Ventures

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NCFA Canada | Craig Asano | Aug 3, 2018

FINTECH FRIDAY$ (ep.3-Aug 3): Investing in Canadian Diversity - Interview with Peggy Van De Plassche of Roar Ventures

Host: Manseeb Khan, NCFA, Fintech Fridays show host

Guest: Peggy Van De Plassche, Founding Partner, Roar Ventures

About this episode: On this episode of the Fintech Friday Podcast, host Manseeb Khan interviews the incredible Peggy Van De Plassche about doubling down on investing in diversity and launching her new fund, Roar Ventures!

Join NCFA's weekly Podcast series 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges!

Subscribe and tune in each Friday to check out the latest movers and shakers in fintech.

Listen to more Fintech Fridays podcasts here

 


Transcription of Interview

Manseeb Khan (MK): Hi everybody Manseeb Khan here and you are tuning in to the NCFA's newest podcast series finito Fridays. And today I have an amazing amazing guest super talented she's odd She's a board member of probably every investment venture you can think of any amazing startup organization you can think of. She is actually a board member of the NCFA. Believe it or not I'm sitting down with the incredibly Peggy Van De Plassche. Peggy thank you so much for making it here. Thank you very much. To give you a little more context both me and Peggy are sick so if we do sound a little distorted please please bear with us. We both have teas both have our waters and tissue boxes so should be okay. So Peggy could you for just a minute give a brief introduction of who you are we're backgrounds from and your role in the financial tech community.

Peggy Van De Plassche (PV): OK well thank you so much Manseeb. I hope my accent and my cold will be will be still easy for people to understand me so as I'm sure you can hear my accent I am from France originally. I moved to Canada 15 years ago.  I live in Toronto was in Montreal for many years before that and well I'm a finance person by trade I fell in technology 12 years ago.  So I became fintech even before fintech really existed and was cool and I've been unbelievably lucky with my carrier because I've been (I am actually) an investor an entrepreneur incorporated as well so it really allowed me to see how we'll see the the interesting challenges coming in fintech from every seat at the table and right now actually and raising my first fund for world ventures and we are investing in early stage data and AI startups as focus for our financial services industry and there is a little twist to that is that we have a gender diversity overly and we are looking at companies that the needs that have c0-founders, management team, board members that are female. I would see a Funder's male founders who were very supportive and active in the change of diversity so I think I did my minute and I hope that it was clear enough Manseeb.

MK: Yeah no it was amazing. So you do come from as as you mentioned you do come from the banking space.  Could you just talk a little bit more about that transition from being a part of CIBC being a part of BMO and then transitioning and starting your own venture.

PV: Yes yes definitely. Well I have done that twice actually.  So I went from being like maybe six-seven years ago now to a more entrepreneurial background. I was working for were entrepreneurs and I was started companies for him and managing his media office so that was really my first real brush with entrepreneurship and the thing that I felt extremely funny at the time is that oh my god I have no meetings because they are coming from the moon in the large banks you know always doing meetings. That was definitely a feeling of freedom that I could manage my time the way I wanted. But at the same time you know like obviously you have the perks up where you are. And also it's you don't have the support of a large organization. And in one and you move a little annoyance from an large organization. But on the other end you don't have the processes you know have the rigor. That comes with a large organization as well. So actually leaving a large organization is also what made me the first time really appreciate some of the things that were that were coming with large organizations but also the opportunity to write my own story is something that you know besides being an entrepreneur is you cannot really do that that. I would say ever in a large corporation banking on venture

MK:  Yeah no I totally agree.  It's very difficult to say but especially being in a part of a huge organization just like the banking system it's very hard to I guess be a little bit more entrepreneurial and just have a little bit more freedom to be a little bit more creative when it comes to your ideas and your ambitions and your goals right.

PV: Yeah and you know it it comes back to diversity its diversity of diversity of backgrounds you know like if you look at the banking industry it's still a very very homogenous in Canada.  And it makes obviously things way more difficult when they shouldn't be by having a system that is not very prone to thinking and doing things differently.

MK: What made you want to start Roar ventures and I guess what makes in your eyes what makes Roar ventures stand out compared to the other I guess VC funds.

PV: Yeah well I guess it's it's probably the same answer to both of your questions I started Roar because I first obviously had this entrepreneurial bug in me so that's definitely something but also I'm still a bit of a whitespace in the way most VC operate. So we start seeing a challenge I have is that we're actually not really data driven. So I'm not sure we're always optimizing our returns financially but also the fact that we're very very prudent seats and our science vis LOFAR not a lot of bias in the way you're funding your entrepreneurs. So as you know you know women are diverse people with a dress cultural backgrounds are way less funded and are traditional I would say male type entrepreneurs that we are in North America. So so for me again one of the things that was very important which with my venture was the opportunity to use data not only to be better in my returns but actually to remove a lot of PR in the industry and I would say the last thing is really linked with my profile and the fact that not only am I an investor but I'm also an operator. But they also understand collaborate and you really need that to be able to help young entrepreneurs grow and be successful. The international NGOs is very important to me so that's also something as I'm speaking with LP really making sure for Elfi mix of international LP that we'll be able to help my portfolio company grow. So I would say I didn't really look at me when I decided to to start Roar. I looked at OK what are the whitespace I see in the industry that I will be able to hopefully fill in with new ventures.

MK: That's incredible because I think that's the one important thing but I guess a lot of entrepreneurs or people are drawn to entrepreneurship right they see a wide space they see a problem that needs to be solved. And I guess in your case would be the lack of diversity the lack of just underrepresentation in certain sectors and you just Hey I have the experience I have the talent I have the drive and I have the operational know how to build something that helps build these amazing white spaces with the incredibly talented people that are under I guess Roar ventures right.

PV: Yeah you know it's it's very this idea of doing good work and doing well.  So it's a bit of super super tough.  So I do I do sincerely believe that the VC industry and the investment industry in general are not just VC but PE is the same as we usual to play but also in Canada. Now to really make our country grow and are like you know we're still very much resource base when I speak with international investor lot of them don't know Canada. They don't know what we're doing in AI. I we are great with startups. And and I mean this years as a crutch to create to make sure that. We're building a future for all Canadians which I mean and sustainable jobs.

MK: What would be your thesis to be great. So when you have entrepreneurs that are either trying to become a part but that you are either vetting for your ventures or be it any of the other organizations be part of I guess would be your thesis or what are you looking for in an entrepreneur to take them on.

PV: Yeah. So so you know we spoke about diversity that's something that for me it's very very important someone who really understand and value diversity not because it's fashionable but because it brings value you know like it out feel good and it's a rational thing to do. That's say the first thing. The second thing is obviously an approach that is very collaborative. And. Again the goal for me when I invest in an entrepreneur is to let him do his job. This is the one was the best position to lead his organization that if I can help I'll be happy to do that. And that's really something that is important is set in a two way conversation where you can have someone bouncing back. The Good The Bad and The Ugly were you and being able to help. In order for them to be very successful and you know sometimes unfortunately people every bit of securities which don't always make them you know welcoming help and I think that's that's unfortunate here not good for the growth of the company. So. Collaboration very important for me and I would say the third thing is really ambition and ambition global ambition very very important for me I really want people to look at that and you know I do believe Canada should become what is east to cyber security for AI. So for me being entrepreneurs who really believe that they can go above and beyond North America is very very key.

MK: So everybody you heard it here first Canada is going to become the Israel of AI. So I'm excited for the other for that. You absolutely will we have amazing people like you and just incredibly talented people in this space to make that make a reality. Right so it's it's a matter of time in my in my perspective really well.

PV: Yes it is.  But at the same time there is also a bit of an urgency here you know like we've been in Canada extremely extremely well positioned with the AI obviously the U.S. China. You know they are not really standing still either.  And and as I speak with a lot of international and potential investors in China Europe's of America even in the U.S. people don't know enough or great we are. And you know like it's it's it's it's nice to be nice but you know I think now is the time to really be a bit more assertive on our amazing we.

MK: Yeah I told you either the world have a I guess misunderstanding of how incredible Canadians are because we are just seen as just very nice very polite people that live in igloos and drink maple syrup right.

PV: Exactly.

MK: Aside from gender diversity being open to I guess advice and having a willing to change and looking globally what else is a part of. guess your vetting process when it when it when it comes to our founder.

PV: Yeah well you know I would say that the vetting process is probably very similar to what you see with a lot of VCs obviously really like serial entrepreneurs. That's of use because these are people who know what you're doing.  You want to. I would say technology Edge where you have a special factor where you have a special set of data a special algorithm that guides are going to give you that is going to give you an edge. Very important. What is your value prop as you know with data in AI. We are just scratching the face of the use cases. So very important to know OK what other use cases you're you're starting with in the financial services industry. The fact that I and some of my advisor from our ex of the corporate where we can definitely vent a of these cases because I've seen in the past many times the great idea is that when you're willing to corporate world you know that you're never going to be able to sell because it might be definity a white space or a bank or an insurance but that might be also so risky for them and they will never touch that with a ten foot pole. So and so it's it's it's very important to see what are the use cases that by the organization is going for and I would say that the last thing which is very important for me in terms of due diligence is the fact that once again I really really want to bring not only data but also of standardization. So I really want to make sure that when we do our due diligence is the same regardless of the people we are speaking with. And what I mean is that sometimes we get very excited by a good salesperson and great salesperson doesn't mean that he or she is going to be the best operator but at the same time the challenge is that if you tend to look at people who might be seen in our venue which is by default what we all do you're not irrationally. Increase the number of points you might give someone who will look like you or think like you. And that's something I really really want to make sure I'm winning as much as possible for an hour from my vetting process.

MK:  So I guess the standardization the founder themselves. And I guess the VC ploy a little bit more self-awareness and understanding. Ok hey I'm an amazing salesperson and want to focus on sales. I'm good at the tag on a co-founder that can be a little bit more on the operational side of it right.

PV: Yeah. And what I mean by that is that when when an entrepreneur comes here we see he or she is an incredible salesperson and meaning don't show Manisha woman as sometimes for an investor it's difficult to stick to a script. They fall in love with a song before you know so. So what I mean by standardization is making sure that you're not skipping 12 questions that might be a bit harder because oh my god you love that guy so much and really want to be close to her.

MK:  Yes it's a lot like a first date. You don't want to like the one I'm the one to make sure you vet them and want to make sure they're on the same page and everything. Okay perfect. Got it.

PV: You know what's interesting is that so HVA did a study maybe 6-9 months ago and they were showing why many women entrepreneurs get less funding by men and did lot a lot of analysis done on interviews from VCs to entrepreneurs and what they noticed is that when entrepreneurs is a female. Two thirds of the questions asked by the VCs are actually prevention focused. So all can you do all. Are you going to mitigate the risk in that type of question when it's a male. Two thirds of the questions are promotion focused. So can you be all or fast are you going to be able to do in another geography. So that was actually really the base of why woman gets with less funding than men. It wasn't anything else. So I think a script removes that tendency that we all have due to social conditioning. I'm not saying anyone is mean or whatever to ask settled certain types of questions of certain type of people.

MK: That's why we have programs like the female founders like are the DMZ and these accelerators are starting to have a little bit better of a diverse diverse programs to have a little bit more inclusion and I guess to make these female founders or more I guess bulletproof when it comes to when it comes to pitching VCs and to help you stigmatize the entire I guess scope when it comes to when when the season investors think of entrepreneurship.

PV: Yeah you know I think it's a type of process that needs to change at every level because I hear you in the concept of saying OK you want your female founders to be bullet proof. Why would they have to be more bulletproof vest and men because they know that if you have them get a seat. So you really need to work at every really big bet. You're totally right because things won't change overnight. You still need to to a female expecting that type of question. So some advice that was given recently to two female founders was OK. Act like a politician.  You know if you asked another prevention type question answer your own version of that question but is it going to be promotion based. It's a way to deal with that.

MK: Programs like female founders and she and SHEOo are. I mean hopefully we can have more programs like this to help make diversity a little bit more you know some palatable.

PV: And you know I've been very fortunate because I've been working on collaborating in the gender diversity space for the last 10 to 12 years and before it was two people or so I've seen now what works what doesn't work so in a big corporation the most impactful change you can make is through your hiring process.  You know it has been does business still a lot of organizations. When I was at CIBC. I was leading the diversity diversity committee that. It is shown by organizing events organizing things that might be a bit softer don't really make any change. So I'm very bottom line focused personally so I always go for it was going to be the best ROI. So for example again I took upbraids going to be hiring. If I look at programs to your point that that will be impactful in the in the gender diversity space. Alonzo Bodden this amazing non-profit that was launched by Shalamar from extreme venture.  And what I call Geldart is he's organized a catalyst for middle school girls just before selling their elective so get more comfortable with technology and they get more comfortable with speaking computer science when they are very young because everything we're doing right now in gender diversity space for adults women is great. But we also need to work at the root of a problem so adding more women in STEM for example is a very good way to add to make these changes. And I like to I would say on shorter term and longer term initiatives to really make make an impact.

MK: Anywhere I could get my little sister more computers more learn more than welcome really.

PV: Lets you know at the end of the day you want it's 50 percent of the population.  It's good for everyone to have more educated people.  Woman women are not navigator's and going to go in fields that's going to create value for themselves for their family but also for the country.  So it is just a win win win it's just something to do.

MK: And just to wrap this up will be your advice. If not golden nuggets that's that you've held very close.

PV: Yeah I think that there are maybe two. One is really.  We might be cliche I'm sorry but one is dream big you know unfortunately we are constantly approaching a situation where people are trying to make us play small because it scares everyone when we're playing big bets you really really want to make sure you're dreaming big and you know for me it's very much. I have this litmus test which is OK when I die which hopefully is going to be a long time when I die. Will I regret doing this on and doing it. And usually I can tell you it's a very good indication of what what you should do.  And that was a very good indication for me to start ventures and the second thing which also is quite well-known is to have great resilience because things are always way more complicated. Difficult. We're more costly at many levels than what you think they would be. So you need to dream big but you need to also have a great resilience to make it happen.

MK: But that immediately click. That's that's the vice my founder and CEO Jonathan at Curexe at first two things. When I when I first got on board it's like we have this incredible world map of like okay we took over Canada next is this. Now we're going to do this and I guess they're resilient right.

PV: They just need to remind yourself that every day of everything the way that you just need to remember every day.  Ok. Well tomorrow is another day and we're going to fight another day.

MK: Peggy thank you. Thank you so so much for today. I know today is definitely not the best for both of us though did. I think we did incredible. Thank you so much.  I can't wait to have you again.

PV: Thank you so much Manseeb have a fanastic day.

MK: You too take care.

 

End of Podcast

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

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Ep13-Oct 13:  Road to Fintech IPO:  Capital Networks, Scalable Solutions, Putting People First

About this episode:   On this episode, NCFA show host Manseeb Khan sits down with Ali Pourdad the CEO of Progressa who recently closed out an $84 million dollar round. They talk about P2P loans, loan services operating within the blockchain and why being people first business matters. Enjoy! (see Transcript)

Host: Manseeb Khan, NCFA, Fintech Fridays show host

Guest:  ALI POURDAD, Co-founder and CEO, Progressa (LinkedIn)

Bio: Ali has been CEO of Progressa since its inception in 2013. Under his leadership the Company has raised over $40 million of investor capital and invested over $2.0 million dollars in its proprietary "Powered by Progressa" decision engine for Canadian Enterprise partners looking to enhance collections strategy in a positive way. The company has grown to over 110 employees in Vancouver and Toronto. Ali has decisively positioned Progressa for its next generation of growth by recently executing on several initiatives, including creating one of Canada's most popular Exempt Market Bond Offerings and securing an $11.4 million Series A financing .

Prior to co-founding Progressa, Ali worked in both corporate restructuring and audit & assurance, with the bulk of his professional career at PwC, where he managed top-tier engagements of financial firms. Born and raised in Vancouver, BC, Ali holds a Canadian Chartered Accountant degree and a BBA in Finance from Simon Fraser University. He began his professional career at a young age, co-founding a leading IT services firm with locations in Edmonton, AB and Vancouver, BC in 1998. Ali is also a regular contributor to Business in Vancouver's weekly radio technology panel and was named to BIV's Top 40 under 40 in 2017.

Ep1-Jul 20:  Facilitating Global Crypto Payments and the Future of Digital Assets

To kickoff the first episode of our Fintech Fridays weekly podcast, our host Manseeb Khan is joined by Samir Bandli, Director of Strategic Partnerships of CoinPayments, to talk about the future of crypto from its role today and its role in the future.  CoinPayments offers merchants an option to accept cryptocurrency as a form of payment and currently works with over 700+ altcoins. (more...)

Ep2-Jul 27:  Canada's Role in the Global Fintech Ecosystem

On this episode of the Fintech Friday Podcast, our host Manseeb Khan sits down with the legendary Sue Britton, CEO & Founder of the Fintech Growth Syndicate, and talk about what Canada has to do to stay competitive in the fintech space, Canada being super hot to outside investors, and why diversty is going to revolutionize finance. (more...)

Ep3-Aug 3:  Doubling Down on Women Founders and Backing Diversity

In this episode of the Fintech Friday Podcast, host Manseeb Khan interviews the incredible Peggy Van De Plassche, General Partner Roar Ventures, about doubling down on investing in diversity and launching her new Data/AI investment fund! (more...)

Ep4-Aug 10:  Importance of a Smart Contract Safety Net

On this episode, our host Manseeb Khan sits down with LA legal tech entrepreneur Amy Wan, CEO/Founder of Sagewise. They talk about why smart contact safety nets are important, the bridge between legal tech and fintech and how Amy closed out her seed round while being pregnant. Enjoy!  (more...)

Ep5-Aug 17:  First Coin's M&A Story - Wall street meets Crypto

Guest: Frans Tjallingii, Managing Director, Galaxy Digital Canada

About this episode:  show host Manseeb Khan sits down with Frans Tjallingii, Managing Director, Galaxy Digital Canada (ex-CEO and Co-founder of First Coin Capital). They talk about their acquisition and where the future of blockchain is heading and how tokens could be used as securities and Galaxy Digital Canada's plan moving forward. Enjoy! (more...)

Ep6-Aug 24:  Asian Crypto Market Opportunities for Canadian Talent

About this episode: On this episode, our host Manseeb Khan sits down with Henri Arslanian, PwC FinTech & Crypto Leader for Asia and Chairman of the FinTech Association of Hong Kong. They talk about future institutions in crypto, Why Hong Kong is a home away from home to him and to other fellows Canadians and his best practices. Enjoy! (more...)

Guest: Henri Arslanian, Chairman, Hong Kong FinTech Association and FinTech & Crypto Leader for Asia, PwC

 

Ep7-Aug 31:  Structuring ICOs and the Mind of a Fintech-preneur

About this episode: This week our host Manseeb Khan sits down with Gary Schwartz the Managing Director of Pegasus Fintech Inc.. They covered how to structure an ICO, to surgary donuts , and impacting investing. Enjoy! (more...)

Guest: Gary Schwartz, Managing Director, Pegasus Fintech Inc.

 

Ep8-Sep 7:  Institutionalization of Crypto, China's Ban and the Potential of Blockchain Decentralization

About this episode: On this episode, our host Manseeb Khan sits down with Juwan Lee the founder and CEO of NexChange. They talked about institutions investing in crypto, some the up and coming players in the market and China being pro blockchain. Enjoy! (more...)

Guest: Juwan Lee, Founder and CEO, NexChange

Ep9-Sep 14: Curexe's New SmartPay Product & Front-line of Global Digital Payments

About this episode:  On this episode our host Manseeb Khan sits down with the CEO And founder of Curexe, so chat about their new product called SmartPay! They also talked about how A.I is going to touch the payments and every other industry, regulations that could be in place when accepting crypto and many more. Enjoy!  (more...)

Guest: Johnathan Holland, Founder and CEO, Curexe

Ep10-Sep 21:   A Regtech-based Blockchain KYC Solution for Document Custody

About this episode:  On this episode, our host Manseeb Khan sits down with the CEO of Commercial Passport Brice Penaud. They chat about what KYC looks like in blockchain, how fintech and regtech can work alongside with governments, and the benefits of creating a digital identity. Enjoy!  (see Transcript)

Guest: Brice Penaud, CEO, Commercial Passport

Ep11-Sep 28:  How Amazon Bank is Dominating and Risks of a Digital Bifurcated World

About this episode:   On this weeks episode our host Manseeb Khan sits down with Paul Schulte Founder & Editor of Schulte Research, whose insights have reshaped the finance world for the past 30 years. They talk about how Amazon is the biggest bank in the world, China being 2 generations ahead compared to the West, and what his next book could be about it. Enjoy!  (transcript)

Guest: PAUL SCHULTE, Founder and Managing Editor, Schulte Research (LinkedIn)

 

Ep12-Oct 5:  Building Blockchain Products & Decentralized Solutions for Enterprise and Startups

About this episode:   On this week's episode of the Fintech Friday$ podcast our host Manseeb Khan sits down with Mathieu Glaude the CEO and president of Northern Block. They talk about having a sovereign digital identity, the excitement behind stable coins and why supply chain in blockchain shouldn't be overlooked. Enjoy! (see Transcript)

Guest:  MATHIEU GLAUDE, President and CEO, Northern Block (LinkedIn)

FINTECH FRIDAY$ is a weekly podcast brought to you by NCFA and partners, where we sit down with the incredible people in the Fintech and Funding community and talk about trends, product innovations, developments and challenges!

Fintech Fridays is an evolving and innovative educational platform focused on delivering authentic personalities, content and story telling on the journey of mainstream adoption of new financial technologies and their impact on the future of finance.

Subscribe and tune in each Friday to check out the latest movers and shakers with hosts Manseeb Khan and others coming soon.

Want to get involved?  Contact us about partnerships opportunities, hosting and more:  info@ncfacanada.org


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

BusinessWire release | Accenture | Oct 17, 2018 Digital-only banks, fintechs and big tech companies are quietly gaining customers, while incumbents struggle to make strategic investments in their digital future NEW YORK & LONDON & HONG KONG--(BUSINESS WIRE)--New entrants to the banking market — including challenger banks, non-bank payments institutions and big tech companies — are amassing up to one-third of new revenue, which is challenging the competitiveness of traditional banks, according to new research from Accenture (NYSE:ACN). “As the banking industry experiences radical change, driven by regulation, new entrants and demanding consumers, banks will need to reassess their assets, strengths and capabilities to determine if they are taking their business in the right direction” Accenture analyzed more than 20,000 banking and payments institutions across seven markets to quantify the level of change and disruption in the global banking industry. The study found that the number of banking and payments institutions decreased by nearly 20 percent over a 12-year period — from 24,000 in 2005 to less than 19,300 in 2017. However, nearly one in six (17 percent) current institutions are what Accenture considers new entrants — i.e., companies entering the market after 2005. While few of these new players ...
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International Monetary Fund | Release | Oct 11, 2018 The International Monetary Fund and the World Bank Group today launched the Bali Fintech Agenda, a set of 12 policy elements aimed at helping member countries to harness the benefits and opportunities of rapid advances in financial technology that are transforming the provision of banking services, while at the same time managing the inherent risks. The Agenda proposes a framework of high-level issues that countries should consider in their own domestic policy discussions and aims to guide staff from the two institutions in their own work and dialogue with national authorities. The 12 elements (see table) were distilled from members’ own experiences and cover topics relating broadly to enabling fintech; ensuring financial sector resilience; addressing risks; and promoting international cooperation. “There are an estimated 1.7 billion adults in the world without access to financial services,” said IMF Managing Director Christine Lagarde. “Fintech can have a major social and economic impact for them and across the membership in general. All countries are trying to reap these benefits, while also mitigating the risks. We need greater international cooperation to achieve that, and to make sure the fintech revolution benefits the many and not ...
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FINTECH FRIDAY$ (EP.2-Jul 27): Canada’s Role in the Global Fintech Industry with Sue Britton, CEO & Founder of FGS

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NCFA Canada | Craig Asano | July 27, 2018

FINTECH FRIDAY$ (ep.2-Jul 27):  Canada's Role in the Global Fintech Industry - Interview with Sue Britton of FGS

Host:  Manseeb Khan, NCFA, Fintech Fridays show host

Guest:  Sue Britton, CEO & Founder, FinTech Growth Syndicate

As CEO & Founder, Sue brings a depth and breadth of experience and passion in corporate innovation, partnering, B2B sales as well as overall market expansion to her clients.  The FinTech Growth Syndicate provides FinTech innovators and start-up company leaders the tools and expertise they need to grow their businesses and accelerate their response to the changing needs of their clients. We are a different advisory firm. Our model is designed to provide you with agile, on the ground experts – talent that has deep experience in corporate innovation, design thinking, commercialization, market expansion and partnering. We are truly deep in all things “FinTech” and are plugged into every corner of the ecosystem, and can leverage relationships and knowledge of the global FinTech ecosystem to accelerate innovation. Prior to starting the company, Sue was Vice President & Head of Global Innovation for D+H. the 21st largest FinTech globally.

About this episode:  On this episode of the Fintech Friday Podcast, our host Manseeb Khan sits down with the legendary Sue Britton and talk about what Canada has to do to stay competitive in the fintech space, Canada being super hot to outside investors, and why diversty is going to revolutionize finance.


Join NCFA's weekly Podcast series 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges!

Subscribe and tune in each Friday to check out the latest movers and shakers in fintech.

Listen to more Fintech Fridays podcasts here


Transcription of Interview

Manseeb Khan (MK): Hey everybody Manseeb Khan here and you are tuning in to the NCFA's newest podcast series Fintech Friday. I'm going be honest with you I'm a little nervous and my guest today our guest today is an absolute juggernaut in the industry. She’s been a veteran for 25 years in the space. Today I have Sue Britton and Sue. Thank you so much for making like this is incredible.

Sue Britton (SB): Thank you so much for being here as well like I totally flattered and here your way overdoing it, but I am thrilled to be here to chat with you.

[00:00:31] MK: I don't think so. I think I think you deserve everything that is said to be completely honest with you. You're the founder and CEO of the Fintech Growth Syndicate. Also known as I've just the FGS. Could you talk a little bit more of what it is, and I guess what made you launch it?

SB: Yes sure. The story of launching it has. You know I left the company I had a 25-year career working with some amazing Canadian companies that. Honestly, they are often tech companies. But we didn't. Twenty-five years ago, we didn't think of them as Fintech. They were technology companies providing solutions to financial institutions. And my last gig I ran innovation for one of the biggest tech companies in the world it's now called an Finastra. Love what I was doing and when the company decided they wanted to go in a different direction I just thought you know I'm going to start my own thing and keep doing what we were doing which is FGS is here to. Help accelerate innovation and we do that with big companies and help grow startups particularly fintech and play a role in the industry. Being a connector and someone who helps promote collaboration. So. It's been exciting. Last three years have been kind of crazy and exciting. That's incredible.

[00:01:59] MK: So, from your amazing resume you've also worked with the Canadian government. Right. So, my next question is the Canadian government doing everything they can to be globally competitive in the Fintech industry so it's a tough question although I'll answer it directly with no. Because

SB: I mean in the early days of FGS I got involved with global affairs and I am the fintech adviser to global affairs as part of their what they call their ICT advisory committee and basically what that means is. You know I'm giving them feedback about how their global affairs program is working which. I don't know if you know much about that space, but they are you know there's something like 1600 people around the world that are paid by the Canadian government to help companies like you know Curexe or Wealthsimple or you know you name one of the thousand fintech companies with. You know support them to do business in other countries. And so that to me is fundamental to what we need from the government. And there are other pockets that are also I think doing well and government is kind of this big label for policymakers and regulators. And the problem we have in Canada and I think this is a general comment about Canada. We have such a big geography that we set up our regulatory framework to be you know provincial based in some cases and. Across the board. You know there's no one. There's no one regulator there's no one policy maker and so like I think of it like it's this patchwork quilt. And so. Until we figure that out the government. Has a really hard time themselves trying to figure out how to make change happen. So

00:04:02 MK: So, I guess what type of fintech models do you think that Canadian fintech’s are I guess internationally acclaimed for and what sectors do you see up and coming. Canadian for their companies could leave a stamp on.

SB: Yes well, I don't mean to answer it like all of them, but I do think like when you think about the companies that have been successful inside and outside of Canada.

Wealthsimple as an easy company that comes to mind because you know they're so well-funded and they've got great partners in power financial and are a group of companies like investors group but there's also a lot of other companies that are still there in the wealth space. Artificial intelligence. You know I would probably be. Remised if I didn't say you know we are we are becoming in are very much a leader in that space element AI couple of years ago received over 100 million dollars in funding and the funding came from mostly international organizations or U.S. based. VCs that there are the power houses of VC investment and so that kind of started that I think what was already building it started a very much a you know. A wave of a focused startup. So, AI for sure generally but also within fintech. Companies like Fin AI I from Vancouver who you know are in the conversational banking space. So, there's been a lot of success stories. I think the challenge we have though is you know everyone that starts the company needs revenue to survive, cash is oxygen, yes exactly. And even if you are getting money seed money you know series A funding or whatever you know in the end those investors want to see a return on them on their investment. And so, you need to be able to demonstrate that you can sell quickly, and Canada hasn't been very good to Canadian startups to support that right. So, I think most of the techs are heading south of the border or especially to Europe and other places where it's just easier to get your foot in the door. There's more support and those. You know maybe except for the. U.S. know competition is. Wanted. In these other countries. Right. So sure, but we have we have some amazing fintech companies that have done well here in and outside of Canada and we don't do enough to brag about them. I think because I think that would probably make everybody feel a bit more optimistic.

[00:07:10] MK: Yes, for sure. Yes. Yes, you don't want you don't want any you don't want too many braggadocios us CEO especially I guess the fintech space being so hard to fund because we're not as willing to open our wallets as say the Americans or European countries are.

SB: You know it's funny you say that. So, I was at the Empire's fintech startups event a couple of weeks ago and Empire this is their second time they've had it there too. So, there was two of them and then on almost every panel they tried to match sort of us. People with Canadian people but it wasn't over. It was just more to get different perspectives. And one of the panels was about you know kind of the modern VC. And. The. Anyway, I had a follow up call from this gentleman and he's with a VC called reciprocal ventures. And they're based out of New York and they want to invest in Canadian fintech. I probably shouldn't but I could go on to give you 10 other examples of companies that want to invest in Canadian fintech growth. Like Canada's super-hot. From an investing standpoint. There is a lot of interest in our tech and our people are. Us. Companies and I would say like very much significantly in FinTech for sure.

[00:08:41] MK: I guess would be one of the advantages that Canada has. Would you say that our diversity plays a factor? Why does Canada have an edge in this space.

SB: Yes well, I mean I think Canada has this amazing concentration of talent. We have. You know Kitchener Waterloo Toronto. You know basically coast to coast we have amazing universities and master's programs. Now we have master's programs intact. Like who would have thought you know. And that's producing a lot of really great talent and talent and new technology. You know like Creative Destruction Lab is producing some amazing. Startups from talent and like across the country I think we like 500 different accelerators. So amazing. So, you know and we're not a big country like in terms of number of people. And so, you know I think what makes Canada so great is we've got we've got great talent that wants to you know. Get. A break. You know. Leading edge technology to the market and there's people that are willing to help them. Right. I guess

[00:10:03] MK: How do you see programs I guess like the Female Founders. That's part of the DMZ. How do you see these? Diverse programs within the startup accelerators. Playing a huge factor in the fintech space in general.

SB: Yeah, I'm glad you kind of brought me back to that. I know you asked me the diversity question. So being a female and I'm a founder of a FinTech accelerator as opposed to a tech product company but you know kind of regardless like. Diversity whether it's in you know gender or you know you know where you were born or what language you speak or your sexual orientation like that you know. It's a huge issue. Let's just say that right. Like where there isn't enough that you can do to continue to kind of try to drive diversity. And equality. You know. Challenge right for me as a female I can say I have had. You know I often actually wear my T-shirt. Because I have had several horrible experiences in my career that and when I look at some of the people even on our own team who are you know in their early 20s it's still shocking to me that there's still stuff going on. With you know people coming out of university who probably have. You know not any real sense of how to necessarily hand themselves in a. In a tough environment and it's I think it's a big. Problem. So. Programs like. The ones at the DMZ and move the dial and Shio and all these different great programs that are trying to, and I know I'm mentioning ones that are female. But yes, that's kind of my passion. But there are so meta. And yet there are still only scratching the surface of the problem. So how many fintech. Companies are founded and led by use by female CEOs. And I unfortunately because I get asked this question all the time. You know can we can you help us find female speakers because we don't want to have less than 50 percent females worse you know are speaking at our events and it's you know it there are lots of females out there don't get me wrong there's lots of great speaking opportunities for senior executives and so on. But try to find tell me how many CEOs and founders many are not that. And that's a that's a real shame. So, a female founders program. Like awesome. We need a hundred of them

[00:12:51] MK: I agree with you. I think the upside would be that like I guess that's kind of what makes fintech such an amazing emerging space because it's because traditionally finance has been a very much an old boys club. Yes right. Old Men's Club we're just like. It's the creme de la creme your youth like my dad to run the bank for 30 years I'm going to run that kind of mentality. Yes, but thankfully with fintech. You're seeing a little bit more a shift where it's a little bit more like the market is the market and the market decides the market doesn't care if you do X Y and Z for transgendered, black whatever it doesn't matter. They don't really care if you're making amazing product and. You are providing an amazing service. That's all that really matters.

SB: And it's something that's kind of like that is such a great insight that. You know and again, a knock against the incumbents who. Have you know maybe gotten fat and happy because they were needed at a certain point in time but then they get so big that now you've got this all these things that are kind of working against you know meeting the changes in the in the in the world. Right. Whether it's changes in technology or you know demographics or whatever. And yet startups don't have any of those issues. And so, you know a startup can be much more diverse a startup can and will attract many more females or otherwise. That's a great point. And so, I think so interestingly that maybe you know some of the things we need to do is focus our efforts more at trying to build more. Diversity within our technology community because at the end of the day you know well I think there's great stuff happening as a female. I'm still often less than a third less than a quarter or sometimes even less than. 5 percent of the audience said. Many of these. You know fintech related meet ups and events and whatever. And so, we're doing we're doing better than before we were before, but we keep the foot on the gas.

[00:15:05] MK: I think it comes down to we have mediums like podcasts that we're doing right now. We have blogs. We have live events. I think. With everything with all those. I think that's going to help greatly accelerate that change. And you're going to see like whoa like programs like the female founders or like SheEO like we follow that's a kickass female CEO and like her insight there's just so much more unique than everything else and I'm yes, I can relate. I can resonate with that right. Yes, and or this certain transgendered CEO or the. CEO of X Nationality like they have such an interesting viewpoint you just like. I don't know it's like I guess people are slowly realizing that the pie is a lot bigger. Yes. And like hey everybody kind of a piece of this and. It's helping, mediums like this helped shedding light on people that you never would have thought about before. Kind of like oh crap that's how female CEOs feel. I never knew that. I never understood that. Now I can be a little more empathetic towards it because not more aware of it and we can navigate this way right.

SB: And you know one of our, at FGS has as You know and a new company. You know we're entrepreneurs we're not trying to you know kind of. Fit the norms that have been you know that are more often found in the corporate world. I don't care if my opinion isn't appropriate for you know, I mean I'm always going to be a professional. But we have to say what we think and course you know because. Because. That's that is another challenge with this whole diversity question. Like in the end I can say what I think but often you know the men in the room. Will you know do things to make us feel like we shouldn't course. And so, we need more outspoken people. On this topic. To continue to walk the streets. And. You know the reality is we do have mostly men making the decisions. Right. And mostly we put the poor white man has just been beat because it's like everybody's immediate you know scapegoat right. Oh, they're all you know wait. Old white men. And they're not. But the men male versus female. You know we're not going to really change things until we get men to say it's not OK to be complacent about the fact that you're you know your team is 95 percent. Male. It's just not right because we can give you all sorts of proof that females are just as capable just as smart just and you don't need to lift heavy boxes. Don't tell me that my physical strength isn't you know is part of the issue. It's more it's more the fact that you know men must agree and then make it and make it. A policy that. You know everyone's equal we're going to treat the people we're going to we're going to demonstrate equal you know division of opportunity just all different. Categories. Anyway. I feel like I said too much on Friday and we like this.

[00:18:23] MK: This is great because like I guess we're having to talk like how the whole talk started with like not enough people are talking about it. So, we started talking about it and now it's like oh there was that other guy if we can cover enough. So, you did talk about how it's important for entrepreneurs to speak their mind and see like issues and provoke change and be as provocative as they can to help change the tide this way or that way you do deem myself as an intrapreneur as an entrepreneur. So, I just yes. Could you explain why that is it's just important to have intrapreneurs in your organization. Yes, as it is to have entrepreneurs and organization.

SB: Yeah and I we’ll just take that completely away from the diversity question because I think. That's about you know so innovation is something that has gotten a bad rap as a way of characterizing trying to do something different in an established organization. But when you see innovation become a thing in a company it means that the company saying OK wait a second the where what got us to where we are today was great wasn't that it wasn't it wasn't you know it was great it was great. Do we've been very successful but what's going to get us from today to survive in the next 20 years is likely something different and we need to bring in people that. Are. 100 percent focused on. Thinking differently and move it because you know when you work in a corporate job for 25 years all the new stuff is in that far corner of your desk and you never get to it. And so, innovation these are entrepreneurs these corporate intrapreneurs are there to try and support the company knowing that. Technology is changing their customers’ needs are changing. You know what OK in the past was isn't ok and, in the future, and we want to work towards the future. Right. So, an entrepreneur is also like a startup entrepreneur. Right. And the entrepreneurs have to say wait a second we need to think differently, or you know start thinking about your biases or your barriers and think about how we can do this or how might we do this. So, I think that you know we do this naturally as entrepreneurs because we must survive. Right. But as entrepreneurs we need to give them more credit for they do a tough job that gets a lot of. And I don't know if I can say this but a lot of shit and a lot of kicks in the head on that you're right.

[00:21:07] MK: You know it comes down to as long as people inside companies are. Challenging I guess their CEOs or the heads of the heads of departments. I was like as long as people are understanding. What got us here is not going to take us so much stuff. Yes, because it's either you will evolve, or he dies sort of like how the right. It's like it's always it's always changing always getting better. It's like you know I could do I could do better.

SB: Things at once in a meeting like I should be change or retire. Yeah, I think that actually speaks to because you talked to a lot of fintech’s and they would say certainly the CEOs some of them will be very vocal and investors and other folks will be very vocal about the fact that you know our big banks are full of this huge layer of executives who really don't have any incentive to change course and maybe have an incentive not to change right. Because you know they're so huge and there's so many layers of them that they really can't challenge the CEO and they don't want to they're going to retire in five years. They've got big stock options on the table. They get paid you know 100 percent bonuses if they hit their financial targets which mean taking funding away from innovation and change or retire. I think you know as much as I don't necessarily support you know mass. Firings or changes I think you do. For any CEO to really be affected with innovation they need to realize that it's not just the other thing that they're trying to do. That one person is going to make somehow magically happen. It needs to be across the board across their executive team across their executive team’s executive teams you know like the 18 different layers horse and die. That is something that can only be CEO and board driven.

[00:23:04] MK: I agree with you, I love the change or retire. That's yes that's going to be a T-shirt at the end of this. I love that So. OK so what. Aside from everything we talk about what other big changes do you hope to see in the fintech space other levers other than Canadians community investors and Canadian Financial situations being a little bit looser with our wallets. Yes. What changes do you hope to see this space?

SB: seeing people take risks right. I think that is one of the things like if you look at RBC. And we don't work with them that we know their partner like beta they do very similar stuff to what we do and there's lots of that out there. So, it's great but I see them launching like RBC ventures. Now they're plunged which obviously ventures are about creating new ventures within not within. I take that back outside because they're physically outside of RBC but there are also. Products that they could probably launch inside of RBC but, yet you know kind of strangely not their products that will lead to more PC customers being able to do business. With RBC right. So, it's all in support of their goal. Now they're doing obviously reach which is an accelerator program. Those are those are risks. But. But that's the kind of stuff that we need to see happening and I don't see it necessarily as much with the other. The other big five you look at Desert and National Bank and some of the other. Smaller financial institutions and credit unions and they're doing some amazing things. But out are you know Canada is held back by the fact that the banks can still change because they are you know like collectively the ones that are you know 90 percent of the. Market. Have the power to slow some of these changes like open banking. Right. Right. I mean open banking is there are companies in Canada that can already facilitate open banking open making is already in the U.S. it's already in the U.K. you know it's it is going to make the fintech space explode. Because in theory what it does is it gives. The customer of the bank the ability to use a product that today they probably can't use or may not. Know may not be able to get access to for whatever reason. So, I mean those kinds of things I think going to see a ton more artificial intelligence-based solution. And again, to see a ton more. You know new product offerings. Outside the existing bank product offerings.

[00:25:00] MK: What advice would you give founders to help better foster positive relationships with these financial institutions

SB: Good question. I mean I think you know. I could probably talk for an hour about that because we work with a lot of founders or companies that are scaling to help them try and get you know their message clear to be able to sell to a financial institution so if you're. You know if your B2B obviously because this is probably more of a B2B conversation like you need to understand who that person is that you should be calling. You know it's funny I did a panel of you know kind of private event and I don't even remember when it was. Sometime it was called the north winds fintech blah blah something or other. Anyway, it was really great event. But. The panel was. Intact. Head of. Investments and partnerships and national banks. Had. Investments and partnerships. And both would say. Not a ton of. Canadian techs calling them. So shocking number wow. Yeah, I know I was like What the hell. Like that's not. That's. Because you hear more. Oh well you know I can't get my foot in the door. So, first. Anyone running a you know an investment fund that is looking to invest in FinTech companies or you know the partnership guys spent some time with them. Going to be careful that you're you know each organization is of a different maturity level when it comes to being able to work with a startup and unfortunately some. Some get off on the wrong foot right. Some do it. Proof of concept in their innovation lab and unfortunately their innovation isn't properly supported. Their CEO remember that like big middle and executive problem and so that PEOC never goes anywhere. But I think I think it's about just trying to understand what your product does that will help. That Financial Institution make sure that that's what you lead with instead of you. We're going to take you out of business this his or her approach whatever your product right. Because not you know. I had a boss like 20 years ago. That you know you have those bosses right in your career the ones that tell you things that you're a member. And. You said soon like they're not that smart. And I was like What are you talking about. He's like. Yeah, I mean you're presented to whatever another executive you know team the parent company and you're so perplexed why they're not getting it. And what he was saying was sometimes they just don't understand what you're telling them. So, you didn't mean like they're stupid, but he meant you know don't expect that just because you're meeting with an F SVP or the year and EVP that they have any clue what you're talking about. Right. Like you know like the need to you need to help them understand. I've built this product that will help you. You know reduce your costs or sell more or whatever it is their product does. And then go from there. That will create a much better conversation.

[00:29:28] MK: It's a lot like when if anybody has sales you learn if you can pitch to a nine-year-old and she or he or she gets it. You nailed it same mentality is that what you are telling me?

SB: I think so, but I mean I also think that You know plain language plain language but that the nine-year-old you know I think it has a master's in finance OK. No just like we're selling to your customer. Who is your target customer? How do you find them and get to them and then make yes get off on the right foot?

[00:30:01] MK: OK. So. Sue what would be I guess your golden nugget that helped you with the massive success you so far in your career. What's the one, two things that stuck out like the true stood the test of time. That helped navigate through your success through your success.

SB: mean I think one is. You know I think instincts are important right now in this fast, fast moving world we live in. So, I would I would be you know I would say follow your instincts and when you're in your corporate career or whatever like you've been working for a while and people keep telling you that they don't think your ideas are right. But you do. You're probably right. And maybe it is time for you to go find another you know another place to do your stuff. When I left my last job which I didn't necessarily feel was as. Fulfilling as it should have been after 25 years. You know this is. Like what we're doing now is exactly what I was trying to do before and it's very successful. So that takes a lot. I mean it's going to take a lot of hard work. All right. Like it's not. It is a seven day a week thing. And. In FinTech in Canada. You must be on the ground. Right. You're not going to read a report, or you know check linked in feed or whatever and really truly understand how be successful you must get out and talk to people and you know put a face to a name and spend time understanding like there's pockets there's that I call them little subcultures. There's all these little pockets of you know groups of people who have relationships have done business together before having started companies before and they're all helping each other out. And if you can. Add some value to that conversation they'll help you out of course. Like we are a very collaborative group in FinTech. And so, I'd say like you know. Commit some time and do you. Community. Service. And. Be out there trying to. Learn. And., I think that will take you much further. Than. Anything Else.

[00:32:37] MK: So, what you're saying is stop listening to podcasts like this called the set of financial institutions that help fund your dream right. More or less. Where are you. OK. Thank you so much for Taking time out your busy schedule to be a guest. This is super insightful and fun.

SB: I love the national crowdfunding and fintech association I think Craig is awesome he's done some really great things. That is a community champion if there isn't. A good model for that everybody should. He asked you to do something. Do it like it's a you guys you and Craig and others like that. We need more of these so that's why I do this because I think it's important.

MK: Ok awesome shout out to Craig Asano. Thanks so much. Some fun I hope to have you around

SB: Yes, we do. Yes. All right. Thank you so much Oprah appreciate it.

End of Podcast

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

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