FFCON21 Breaking Barriers May 11-13, 2021

Category Archives: NCFA Blog

NCFA Announces 7th Annual FFCON21 Digital ‘Breaking Barriers’ FinTech Conference

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NCFA Canada | FFCON21 Team | March 11, 2021

FFCON21 vert 2 col med - NCFA Announces 7th Annual FFCON21 Digital ‘Breaking Barriers’ FinTech Conference

FFCON21 to connect HR talent and explore accelerated Fintech trends and innovations paving the way to mass adoption and scale

TORONTO — March 11, 2021 — The National Crowdfunding & Fintech Association (NCFA), organisers of Canada’ foremost Fintech conference, is pleased to announce the return of FFCON for its 7th consecutive year. The annual FFCON Digital Event, held in association with Toronto Finance International (TFI), will take place May 11-13, 2021.

Building on the success of previous conferences, this year’s event -- titled ‘Breaking Barriers’ -- will bring together an international community of leading voices in fintech, digital banking, tokenization, blockchain, CBDCs, digital identity, AI, capital markets innovation, EDI (equality, diversity and inclusion) and sustainable, open, and alternative finance.

“Fintech is evolving quickly and breaking barriers,” said Craig Asano, Founder and CEO of the National Crowdfunding & Fintech Association of Canada. “Fintech is no longer niche -- it is a permanent technological evolution that is changing the world of finance by high growth fintech companies and incumbent financial institutions. It’s rewiring financial services for the new economy and setting new standards that also demand new regulations. Most importantly, it’s about improving access and delivering better financial products, services and outcomes for everyone especially consumers and small to midsize enterprises (SMEs).”

The theme of FFCON21 reflects the growth and challenges that the Canadian Fintech industry has had to navigate through to foster scalability and mainstream adoption, made all the more complicated through the disruption caused by Covid-19.

“Our Fintech ecosystem has become a great strength in the greater Canadian innovation landscape. COVID-19 has accelerated the pace of change in the industry and highlighted the important role digital innovation plays in the competitiveness of the financial services sector. Rapidly changing consumer habits and ways of delivering products and services offers a significant opportunity for Canadian Fintechs" Jennifer Reynolds, President & CEO, Toronto Finance International

Beyond covering important fintech topics, FFCON21 will offer an engaging and fast-paced interactive agenda, including investor speed dating, sports-inspired Fintech Draft pitching and demo competitions designed to identity and feature emerging fintech stars, debates, round table discussions, digital ebooths and virtual expo, 1-on-1 networking opportunities and unique experiences.  Delegates and partners can build their knowledge base, launch or scale an idea or collaborate digitally with visionary entrepreneurs and investors.

New to FFON21 this year, organizers are adding an HR fintech talent marketplace to connect anyone seeking new opportunities with high growth companies, and a ‘deep dive’ masterclass series on the topic of decentralized finance as part of its quarterly Global Fintech Now program for VIP passholders.

The multi-day event will run from May 11-13 inclusive with daily content to span feature themes of Digital Innovation and Breaking Barriers, Creation & Growth and Global Future Forward. Updates to the evolving programme and speaker lineup can be found on the FFCON21 website.

Registration Now Open

Registration for FFCON21 Breaking Barriers is now open with special early bird rates for delegates, exhibitors and startup packages available for a limited time. Tickets can be purchased at https://fintechandfunding.com/tickets/.

Useful Links

Speaker Application

Fintech Draft Pitching & Demo Application

Website | Experience | Partner Packages

Registration | Media Pass

 

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About the NCFA

The National Crowdfunding & Fintech Association (NCFA) 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. To learn more about NCFA visit www.ncfacanada.org

 

About Toronto Finance International

Toronto Finance International (TFI) is a public-private partnership between Canada’s three levels of government, the financial services sector and academia. TFI’s mission is to lead collective action that drives the competitiveness and growth of Toronto’s financial sector and establishes its prominence as a leading international financial centre. For more information, please visit: www.tfi.ca

 

About FFCON

FFCON21 (Fintech and Financing Conference) is an annual conference hosted by Canada’s National Crowdfunding and Fintech Association (NCFA). Now in its seventh year, FFCON21, held in association with Toronto Finance International, will bring together professionals and innovators in fintech, open banking, digital identity, blockchain, cryptocurrency, AI, capital markets innovation, sustainable and alternative finance.

Further information about the conference can be found at www.fintechandfunding.com

FFCON21 Contacts

Craig Asano
Founder and CEO, NCFA
casano@ncfacanada.org
(416) 618-0254

Partnership Inquiries
Lauren Linton
Advisor, NCFA
lauren@ncfacanada.org
(416) 569-4349

Media Contact
The Top Floor Public Relations
Michele McDermott-Fox
michele@thetopflooragency.com
(905) 379-1893

David Lewis
david@thetopflooragency.com
(905) 541-5699

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CSA Responds to Ontario Capital Markets Modernization Taskforce Report: NCFA – The present system is simply not good enough

Crowdfund Insider |

capital markets modernization - CSA Responds to Ontario Capital Markets Modernization Taskforce Report: NCFA – The present system is simply not good enough

Last month, the Capital Markets Modernization Taskforce in Ontario, Canada, issued its final report as to how to improve capital formation and affiliated economic growth and prosperity. The Taskforce’s goal was to “address the issues of tomorrow’s capital markets with bold and innovative recommendations that will make Ontario one of the most attractive capital market destinations globally.”

The document encompassed meetings with multiple stakeholders and feedback from more than 130 stakeholders. In brief, the feedback indicated that “the time for change is now.”

While Ontario is not all of Canada it is the most active province in the financial services sector. Anything that Ontario pursues is of interest to the rest of the country. The objective is to “amplify growth and competitiveness in Ontario’s capital markets” in a time when private markets are growing in importance and public markets have dimmed a bit.

See:  NCFA Response to the Modernizing Ontario’s Capital Markets Consultation Taskforce

In all, the Taskforce put together 70 different recommendations. The entire report is available below. Competition and innovation is key to succes – including online capital formation and other forms of Fintech. To quote the Taskforce:

“… financial technology (Fintech) emerged as competition to traditional and incumbent financial services. For example, crowdfunding platforms supplanted some traditional financial intermediaries by allowing peer-to-peer money exchange with minimal advice to investors. Robo-advisors facilitated a new, electronic medium for easy access to diversified portfolio services. Cryptocurrency has the potential to disrupt the intermediary role of traditional banks. However, similar to other Fintech, cryptocurrency is largely unregulated and does not provide the same quality of investor protection as other investments. Such new emerging trends will need to be incorporated into regulatory frameworks, potentially initially through regulatory sandboxes and eventually through formal regulation.”

Ontario Capital Markets Authority?

While regulation may be needed it must be flexible enough to empower innovation and not stifle it explained the report. “A more optimal balance between innovation and regulation is necessary for Ontario’s capital markets to succeed in the future.” The authors advocate dramatic change that would impact Ontario’s current capital markets legislation. The recommendations include altering the mission of the Ontario Securities Commission (OSC) to include a mandate of fostering capital formation and competition – somewhat similar to what the regulators must do in the UK. Currently, the OSC’s mission is more aligned to those in the SEC of investor protection and pursuing fair and efficient markets.

See:  NCFA Fintech Confidential Magazine (Issue 3)

Interestingly, the Taskforce recommends a similar approach as the SEC’s Office of the Advocate for Small Business Capital Formation and its Strategic Hub for Innovation and Financial Technology – two fairly new entities. The OSC Innovation Office should “place a primary strategic focus on facilitating economic growth and innovation, including fostering and testing new and innovative methods to improve transparency in financial product intermediation.”

There is plenty more in the document including recommendations on investor protection and enforcement as well as Regtech and Open Banking efforts.

This past week, the Canadian Securities Administration (CSA) issued a formal response to the report. The CSA represents each provincial securities regulator. The group, with the exception of the OSC, commended the work completed by the Taskforce and said it “believe(s) it will be very useful to bolster our collective reflection on how to advance the Canadian securities regulatory regime.” But while lauding the work, the CSA criticized any attempt to implement changes outside of CSA mechanisms as this would “risk creating inter-jurisdictional friction and adding regulatory burden on market participants across Canada.”  The CSA pointed to the absence of a passporting regime between the provinces

“… we urge the Ontario Finance Minister to act in the best interest of all Canadian market participants and adopt the passport rule,” said the CSA.

The CSA also pointed to an “imbalance” in regards to focusing on vibrant and efficient markets without “commensurate attention” to investor protection initiatives.

To quote the CSA:

“In conclusion, we are fully supportive of cooperative efforts to modernize and streamline the regulation of the Canadian capital markets while delivering robust investor protection through the CSA. To achieve these goals, Ontario should join the passport system and the Taskforce’s recommendations that have policy implications across Canada should be integrated into the CSA’s robust and well-established process for the benefit of all Canadian market participants.”

See:  CSA Responds to the Modernization Taskforce Final Report and Encourages Ontario to Adopt Passport Rule to Eliminate Unnecessary Burden

Crowdfund Insider reached out to the National Crowdfunding and Fintech Association (NCFA) in Canada for feedback on the report. The NCFA contributed a comment to the Taskforce back in late 2020. Craig Asano, founder and long-time Executive Director of the NCFA said:

“The NCFA strongly believes that open finance will bring more competition and innovation, including intellectual property, to financial services and products. It will increase competitor offerings and give consumers more choice and control over their data and financial ecosystem.  However, without the full support of the incoming OSC chair and cooperation among all CSA members for a harmonized and streamlined regulatory culture, Canada risks losing (even) its fast follower status as other global jurisdictions welcome a brave new world.”

Robin Ford, NCFA Advisor on Governance and Regulation, added that the NCFA is firmly in support of a competitive objective:

“… this CSA announcement is otherwise to be welcomed,” said Ford. “As NCFA has advocated, moving to a passport system for all of Canada along with a more sophisticated, inclusive, and transparent regulatory decision process would be a significant step in the right direction. All the Canadian regulators need to work together to drive forward the sorts of improvements recommended by the Taskforce much more quickly, whether through a single cooperative regulator or not, to better support businesses, capital markets, and the wider economy. The present system is simply not good enough.”

See more:  NCFA Voice and Advocacy

While it appears that many stakeholders agree on the need for change there are some differences and not everyone embraced the far-reaching recommendations.

A write-up in the Financial Post slammed the Taskforce’s document as “not the market fix Canada needs” describing the report as “falling short.” The comment criticized two “trendy” recommendations on ESG reporting and diversity targets.

Continue to the full article --> here


NCFA Jan 2018 resize - CSA Responds to Ontario Capital Markets Modernization Taskforce Report: NCFA – The present system is simply not good enough The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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NCFA’s Fintech Confidential Issue 3 (Dec 2020) is here! Happy Holidays…

NCFA | Craig Asano | Dec 17, 2020

Fintech Confidential issue 3 cover - NCFA's Fintech Confidential Issue 3 (Dec 2020) is here!  Happy Holidays...Dear Global Fintech & Funding Communities,

The National Crowdfunding & Fintech Association of Canada (NCFA) and partners are excited to present Vol. 1 Issue 3, FINTECH CONFIDENTIAL, a digital pop-up of the 6th annual 2020 Fintech & Financing Conference and Expo (FFCON20) held virtually across themed 8 weeks from July 9 to August 27 and co-hosted by NCFA and Toronto Finance International.

The main theme of FFCON20 was “RISE”, reflecting the joint efforts of the two associations, NCFA and TFI, to build and increase the success and sustainability of Canada’s fintech and financial sector.   There were many moving parts this year and a brand-new digital format with the event bringing together 100+ thought leaders, 50+ partners, and more than 500 attendees, 2 challenges and the inaugural Fintech Draft pitching and demo competitions.  Congratulations to the winners:  SolidBlock and MazumaGo (formerly DivDot)!  Thanks to all the partners, speakers, attendees, volunteers and the entire organizing team for making FFCON20 an impactful and amazing online experience for Canada’s fintech and funding community.

Despite a challenging year for many, the fintech industry continues to demonstrate its resilience, creative capacity, and thirst to create valuable partnerships and financial products/services that benefit millions of consumers, small businesses, and the economy.  As covid accelerates the adoption of digital trends, it has spotlighted the social and economic gaps that saw fintechs pivot to work on supportive solutions from mobilizing low-cost capital campaigns to personal finance apps that help users better manage their finances, spending, savings, and investment habits.

NCFA Sign up for our newsletter - NCFA's Fintech Confidential Issue 3 (Dec 2020) is here!  Happy Holidays...

Digital identity, CBDCs (and digital assets), AI, and sustainable finance are all taking off as governments and industry work to collaborate on overhauling Canada’s digital infrastructure, data rights, privacy and standards that will set the stage for years to come.  The second round of open banking consultations that were delayed due to the pandemic were suddenly announced in November with many organizations, fintechs and incumbent banks coming together to discuss the scope, governance, implementation, and accreditation of a made in Canada OB solution.  We urge the OB committee to remain laser-focused on consumer interests while looking globally for insights to implement a principles-based, inclusive, broad-scoped and competitive framework as swiftly as possible.

We hope you enjoy this issue of Fintech Confidential magazine – it certainly makes for great holiday reading!  While everyone relentlessly strives to achieve success in 2021, we encourage you to bring in the new year with good health and to be mindful that we are all in this together, and to help others in your community more than ever before.  Peace, happiness, and best wishes for an incredible year and journey ahead.

All the best
Craig Asano
Founder and CEO
NCFA Canada

Check out the magazine --> here

 


NCFA Jan 2018 resize - NCFA's Fintech Confidential Issue 3 (Dec 2020) is here!  Happy Holidays... The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - NCFA's Fintech Confidential Issue 3 (Dec 2020) is here!  Happy Holidays...FF Logo 400 v3 - NCFA's Fintech Confidential Issue 3 (Dec 2020) is here!  Happy Holidays...community social impact - NCFA's Fintech Confidential Issue 3 (Dec 2020) is here!  Happy Holidays...

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Some past Fintech Draft pitchers - NCFA's Fintech Confidential Issue 3 (Dec 2020) is here!  Happy Holidays...

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December 2020 Magazine: NCFA Fintech Confidential (Vol 1. Issue 3)


NCFA Jan 2018 resize - December 2020 Magazine: NCFA Fintech Confidential (Vol 1. Issue 3) The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - December 2020 Magazine: NCFA Fintech Confidential (Vol 1. Issue 3)FF Logo 400 v3 - December 2020 Magazine: NCFA Fintech Confidential (Vol 1. Issue 3)community social impact - December 2020 Magazine: NCFA Fintech Confidential (Vol 1. Issue 3)

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NCFA OpEd: Canada’s Open Banking Consultations: Let’s Get it Done!

NCFA Canada | Dec 3, 2020

Open Banking is coming to Canada - NCFA OpEd:  Canada’s Open Banking Consultations: Let’s Get it Done!

Open banking is about giving Canadians control over their banking data to allow them to take advantage of data-driven financial services offered by third parties. But what exactly does that mean?

Imagine giving Canada Post the key to your house to deliver a parcel, rather than leaving it securely in a mailbox. The same situation may happen when sharing your banking data with a third-party. While some provide a secure mailbox accessed using an application programming interface, other require consumers to divulge their user name and password to a stranger. Open banking regulation would provide consumers with a secure and standardized way to share data and access valuable financial advice, products or services.

This week Finance Canada’s Open Banking Advisory Committee (OBAC) is holding the second phase of consultations. OBAC is meeting with banks and financial institutions, financial technology (fintech) companies, industry associations, and other stakeholders coast-to-coast. Five three-hour sessions take place from November 30 to December 17 to review the proposed framework, covering data standards, privacy, cybersecurity, accreditation, and more.

See:  MOF: Consumer-directed finance: the future of financial services

This is welcome news after the almost two-year delay since the first consultations were launched in January 2019. Canada’s foot dragging continued despite the June 2019 recommendation from our Senate Banking Committee that “The federal government must give Canadians the means to share their financial data safely and securely by facilitating what’s called open banking”.

See:  Senate of Canada, “Open Banking: Protecting Canadians’ financial information”, June 19, 2019, https://sencanada.ca/en/info-page/parl-42-1/banc-open-banking/#collapse-item3.)

The hold up continued through the COVID-19 pandemic, when Canadians turned to digital platforms to manage their personal finances as never before.

The OBCA understands the urgency to get this regulation in place. We agree. It is time to pass open banking legislation that provides access to innovative financial services while protecting consumer-welfare, similar to what exists in the EU, UK and Australia.

The National Crowdfunding & Fintech Association of Canada (NCFA) has long advocated for consumer-centric financial services that increase consumer choice. Canadians deserve competitive and transparent pricing. They deserve regulation that is proportionate to the risks and rewards. We support innovations that increase financial inclusion, address bias and discrimination, and create jobs. We want our fintechs to succeed at home and abroad, alongside other Canadian technology success stories.

The UK has been a leader, passing open banking legislation in January 2018 to increase competition and promote innovation in financial services. The Financial Conduct Authority (FCA) is the government regulator responsible for protecting consumers. The FCA has set open banking standards and publishes a list of approved providers. This agency has been proactive, for example targeting data brokers who aggregate and sell consumer data. The UK has set the model for Canada to follow.

See:  Global Risk Institute Report: Discussing Open Banking Regulation for Canada

The OBAC will recommend Canada’s open banking solution to the Finance Minister. A successful launch will require one entity to be responsible for the roll-out. It will require harmonized rules across Canada to avoid a provincial patchwork. Licensing and compliance costs should encourage competition and not simply favour incumbents, in line with the February 2019 submission from Canada’s Competition Bureau.

Education and effective communication will be critical. Regulators cannot rely on consumers to educate themselves, which was tried and failed with equity crowdfunding. To boost public confidence, we need a public awareness campaign that highlights the benefits of open banking and the steps being taken to protect consumers.

Canada’s framework needs to recognise international standards and avoid being siloed. To this end, OBAC should incorporate the work of the Standards Council of Canada on industry-wide standardization strategies for data governance. We need a future-proofed framework that will support a globally competitive financial system.

The open banking train has left the station. Canada risks being left behind if we don’t act now. The greatest risk is inaction. Passing open banking legislation will allow Canada to advance to a financial future that puts the needs of consumers first.

Craig Asano is the Founder and CEO of NCFA Canada. Prof. Michael R. King is a NCFA Advisor and Richard Remillard is a NCFA Board Member.


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

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Report: Access to Capital for Canadian Growth-Orientated Medium-Size Firms

RCG Group | Richard Remillard and Michael  Scholz | Oct 15, 2020

Canadian 100 dollar bills - Report:  Access to Capital for Canadian Growth-Orientated Medium-Size FirmsBackground:  Access to Capital for Scale-ups

Canada has an SME and start-up ecosystem that is healthy in many respects, ranking second globally in ease of starting a business, but seemingly falls in short scaling growing businesses into globally competitive anchor firms, as fewer than 2% of Canadian mid-sized firms grow into large firms in any given year.1 As a result, SM Es account for about 90% of business sector employment in Canada2 versus 47% in the United States3, a fact that accounts for about 20% of the labour productivity gap between Canada's business sector and that of the United States.

Ambitious, medium-sized firms require access to affordable sources of growth capital to be able to invest in activities (e.g. hiring talent, building infrastructure, and developing new technology) necessary to grow into globally competitive leaders. Evidence of stronger demand for such growth equity has been noted by the BOC, which expects its Growth & Transition Capital offerings to increase by 8% annually through fiscal 2024.

See:  Ontario’s Capital Markets Modernization Task force report draws criticism

Despite this, the financing challenges and opportunities surrounding medium-sized, higher-growth companies generally remain poorly understood relative to financing of small, early-stage growth companies. As such, this paper specifically focuses on the availability of flexible financing required by medium-sized firms looking to scale up and grow, such as minority equity, debt, or hybrid financing.

Informed by extensive interviews conducted by the Remillard Consulting Group with capital providers and corporate executives (Annex 1), the following captures stakeholder insights into the state of Canada's growth and transition capital markets, including: challenges inhibiting the availability of growth capital for medium-sized firms; common misperceptions concerning Canada's growth capital and alternative risk financing markets; and the continued role of the BOC in this rapidly evolving market.

Take-aways

Though Canadian policymakers have developed a robust understanding of the financing challenges faced by growth firms at earlier stages of development, less is understood about how growth capital markets work to finance medium-sized, growth-oriented firms. Following a decade of considerable growth in the sector, corporate executives and capital suppliers noted certain emerging trends important for policymakers to understand, including:

See:  NCFA Response to the Modernizing Ontario’s Capital Markets Consultation Taskforce

  • The emergence of a relatively porous three-tier capital market structure in Canada to meet the unique needs of Canada's growth-oriented, medium-sized firms composed of both foreign and domestic sources of capital supply with Tier 1 capital dominated by foreign suppliers, who are less present at Tier 2 and are markedly absent from Tier 3.
  • Public capital markets partially compensate for the absence of foreign capital providers at Tiers 2 and 3; in the same vein, retail investors can and do participate in financing Tier2 and 3 companies also via private placements or as incented via Labour-SponsoredVenture Capital Corporation Tax Credits (mostly in Quebec).
  • Rural companies confront several obstacles ranging from distance, to the absence of specialized finance personnel, to the reliance on natural resources industries.
  • Country or province-wide 'branch' networks as exemplified by the big banks, BOC, CBGF, the Fonds Regionaux de Solidarite and Caisses Desjardins appear to be important to Tier2 and Tier 3 company fundraising efforts, especially for non-technology companies.
  • Certain industries are fashionable capital magnets while others, distinctly unfashionable, repel capital. Technology, broadly understood, is a capital magnet as has been cannabis. Oil and gas, forestry and hard rock mining have been the reverse.
  • A very limited number of smaller private sector funds have expressed concerns about BDC's activities in this portion of the mid-market - with BDC increasing activity to address funding requirements in this area, they risk getting squeezed out.
  • A lack of consensus about the impact of US capital in the market divides capital providers and company executives alike. Some refer to the current pattern of US fund investment into more-established and resilient companies as insulating these firms from a sudden withdrawal of that funding. Others note that in today's technology-driven world, Canada risks losing its future high potential job-creating and export-oriented champions.
  • Certain investors remarked that any future economic downturn may result in US funds prioritizing their own domestic investments over foreign ones as has occurred in the past. This, in turn, may result in a funding squeeze as Canadian domestic funds generally do not have the financial flexibility to meet these gaps as many companies in the technology space experience high burn rates of capital.
  • It is impossible to determine one way or another whether the presence of large American investors is a net-benefit to the Canadian economy. Resolution of this controversy would likely require an examination of the post-investment record in terms of direct and indirect job creation, intellectual property development and export performance of companies that have received foreign or domestic capital injections.

Download the Report (24pg PDF) --> here

Or Interact with the report on the Government of Canada's website --> here

 


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

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FINTECH FRIDAYS Podcast: Season 3

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JOIN US ON A STORYTELLING JOURNEY:  SEASON 3

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EP51: Bacon and Eggs

FF EP51 Julien Brault banner  - FINTECH FRIDAYS Podcast:  Season 3

Guest:

JULIEN BRAULT, Chief Executive Officer, Hardbacon  (LinkedIn);

BIO:  Julien is more of a cheerleader than he is a conductor. He is the one continually pushing the Hardbacon team to excel, but he’s also responsible for developing strategic partnerships with financial institutions and promoting the company. Julien founded a publishing house called Amerik Media, which he sold in 2010, and was an economic reporter for Les Affaires for five years. He also served as Director of Growth for a fintech investment fund before funding Hardbacon in 2017.

For more information, contact:

Julien Brault, Hardbacon CEO at 514-250-3255; julien@hardbacon.com

About Hardbacon

Hardbacon is a mobile application that connects to your bank accounts, credit cards, and investment accounts, helping you make better financial decisions and make your dreams come true. Hardbacon is a powerful planning app which allows you to plan, budget, invest and increase your savings. Hardbacon also has a product comparator that allows you to compare the financial products available in the market and help you find the best ones for your needs.

The Hardbacon app can be downloaded from the App Store or Google Play.

To follow our crowdfunding: https://www.frontfundr.com/hardbacon

Our website: https://hardbacon.ca/

 

About this Episode:

On this episode of Fintech Fridays, Craig Asano, CEO of NCFA connects with Julien Brault the CEO of Hardbacon, an emerging high growth financial fitness and tracking app in Canada. They talk about the story behind Hardbacon, raising capital via equity crowdfunding and IPO routes, digital platforms as lead generation, and helping Canadians improve their wealth by making better financial decisions.  Enjoy!  (Full TRANSCRIPT)

EP41:  40% pandemic growth, taking risks and innovating Insurtech in Canada 

GUEST: DANISH YUSUF, Founder and CEO, Zensurance (Linkedin)

About this Episode:  Danish Yusuf of Zensurance joins Craig Asano for the kickoff episode of Season 3 of Fintech Fridays. They discuss Danish's entrepreneurial journey, the story behind the creation of Zensurance and dive into what it's like adding 40% new staff during the pandemic to sustain growth, and innovating B2B insurance products for small businesses in Canada.

Enjoy! (Full TRANSCRIPT)

EP42:  Insights into the Teen Banking Sector and Improving the Financial Well-being of Families

GUEST: RIM CHARKANI, Co-Founder and CEO, WALO (Linkedin)

About this Episode:  Rim Charkani, the Co-Founder & CEO of WALO connects with NCFA Founder, Craig Asano, to discuss why Teen Banking is a growing opportunity for banks, and why financial wellness education is more crucial than ever for both kids and families. Did you know women in Canada weren't allowed to open a bank account without a man's signature until 1965? They navigate the history, psychology, cultural differences, and the need to improve Canada's financial literacy gaps and personal finances in every day life.

Enjoy! (Full TRANSCRIPT)

EP43:  Taking the Mortgage Process From 40 Days to Minutes

GUEST: CHRIS GRIMES, Co-Founder and CEO, FundMore.ai (Linkedin)

About this episode: Chris Grimes, co-founder, and CEO of Fundmore chats with Tristram Waye about the mortgage market, inefficiencies, and entrepreneurship. Vetting mortgages by lending companies is a complex process involving several parties and considerable time. Whether a first-time buyer or doing a refinancing, this process can last up to 40 days. The conversation explores the mortgage process, its deficiencies, and how technology is being used to enhance this financial transaction.

Enjoy! (Full TRANSCRIPT)

EP44:  The Vanguard of Digital Innovation and Ecosystems in Canada

GUESTS:

RICHARD REMILLARD, President, RCG Group (LinkedIn)

ROBIN FORD, Principal, Robin Ford Consulting (LinkedIn)

DAVID LUCATCH, Co-Founder and CEO, KABN Systems North America (LinkedIn)

LYNN JOHANNSON, Owner, E2 Management Corporation (LinkedIn)

 

About this episode:  Join us for a special Episode 44 where Craig Asano sits down with a panel of NCFA Advisors and members who discuss the vanguard of digital finance and it's ability to fund, develop and scale digital innovations in green finance, digital identity and other emerging ecosystem opportunities in Canada. Are success stories like Wealthsimple and Shopify repeatable? Covid has afforded us all the time to take stock on the past and present while considering a relaunch of the future. Will Canada get it right?

Enjoy! (Full TRANSCRIPT)

EP45:  Mission-driven and Consumer-centric Financial Services

Guest:  KEITH TAYLOR, Executive Director, DUCA Impact Lab (LinkedIn)

About this episode: Keith Taylor, Executive Director of the DUCA Impact Lab chats with Anna Niemira about consumer-centric and fair banking (social finance).  They discuss how a group of underbanked Canadian newcomers back in 1954 focused on solving a real problem in financial services.  Fast forward 65 years later, DUCA’s mission has never been stronger.  From innovative escalator-loans to digging deeper into retail financial literacy gaps, and their commitment to improving the financial well-being of its customers.  As a registered B-corporation, learn how DUCA is innovating and living up to their motto of not only being ‘the best in the world but the best FOR the world’.

Enjoy! (Full TRANSCRIPT)

EP46:  Making Business Borderless:  International Payments and Partnerships

Guest: ALASTAIR THOMPSON, Global Head of Business Development & Partnerships, TransferWise (LinkedIn)

About this Episode:

Alistair Thompson, Global Head of Business Development and Partnerships at TransferWise joins host Manseeb Khan to talk about their mission to make sending money as easy and free as sending an email.  They discuss how TransferWise began 9 years ago, and how transparent pricing, putting customers first and partnering with banks and non-banks globally has grown into a $5 billion monthly business and international fintech success.

Enjoy! (Full TRANSCRIPT)

EP47:  How to Change the World: Risk Culture and Work-life Balance

Guest: MICHELLE BEYO, Founder and CEO, Finavator (LinkedIn)

About this Episode:

Michelle Beyo, Founder and CEO of Finavator joins Fintech Fridays host Manseeb Khan who talk about taking risks, celebrating success and finding work-life balance. They talk about innovation during crisis and the need for Canada to adopt Open Banking and how companies that aren’t creating 50/50 diverse teams are leaving money on the table. Join us for an action packed episode that will have you participating in a sprint triathlon next year.

Enjoy! (Full TRANSCRIPT)

EP48:  How to Connect and Resonate with Customers Through Podcasting

Guest: FATIMA ZAIDI, CEO and Co-Founder, Quill Inc. (LinkedIn)

About this Episode:

Fatima Zaidi, CEO and Co-Founder of Quill Inc joins Fintech Fridays host Manseeb Khan to understand why podcasts have grown 200% in the last 6 months, and how influencers and corporate brands are building authentic customer relationships and motivating prospects with them. They talk about inspiring stories of Ben and Jerry’s ice cream, building trust, advice for female (under-represented) founders, and how to connect with affluent, educated millennial professionals. If you’re new to the power of podcasts, tune-in to learn why they are quickly becoming an integral part of a company’s marketing mix, today.

Enjoy! (Full TRANSCRIPT)

EP49:  Managing Private Placements Has Never Been Easier

Guests:

BROCK MURRAY, Co-Founder and Global Head of Business Development, Katipult (LinkedIn); and

KARAN KHIANI, VP Solution Engineering, Katipult (LinkedIn)

About this Episode:

Join Brock Murray (Co-founder and Head of Global Business Development) and Karan Khiani (VP Solution Engineering) of Katipult, an award winning private placement software as a service company. They navigate the origins of their company, the challenges of product/market fit, the impact of COVID19, emerging retail investor trends and going public early. The best part is....their journey is just beginning. Welcome to EP49 of Fintech Fridays.  Enjoy! (Full TRANSCRIPT)

EP50: Compliance to the Moon

Guest: MARK BINNS, Chief Executive Officer, BIGG Digital Assets Inc.  (LinkedIn);

About this Episode:

On this milestone episode, our host Manseeb Khan sits down with Mark Binns CEO of BIGG Digital Assets. They cover the rally behind bitcoin, big tech investing in crypto, and giving your kids crypto instead of fiat for allowance money.  Enjoy!  (Full TRANSCRIPT)

PAST SEASON 1 EPISODES:

EP1-Jul 20:  Global Crypto Payments and the Future of Digital Assets (CoinPayments)

EP2-Jul 27:  Canada's Role in the Global Fintech Ecosystem (Fintech Growth Syndicate)

EP3-Aug 3:  Doubling Down on Female Founders (Roar Ventures)

EP4-Aug 10:  Importance of a Smart Contract Safety Net (Sagewise)

EP5-Aug 17:  First Coin's M&A Story - Wall street meets Crypto (Galaxy Digital Canada)

EP6-Aug 24:  Asian Crypto Markets meet Canadian talent (Fintech Association of Hong Kong)

EP7-Aug 31:  Structuring an ICO and the Mind of a Fintech-preneur (Pegasus Fintech)

EP8-Sep 7:  Institutionalization of Crypto, China’s Ban and the Potential of Blockchain Decentralization (NexChange)

EP9-Sep 14:  New SmartPay Product & Front-line of Global Digital Payments (Curexe)

EP10-Sep21: A Regtech-based Blockchain KYC Solution for Document Custody (Commercial Passport)

EP11-Sep 28:  How Amazon Bank is Dominating and Risks of a Digital Bifurcated World (Schulte Research)

EP12-Oct 5:  Building Blockchain Products & Decentralizd Solutions for Enterprise and Start-ups (Northern Block)

EP13-Oct 12:  Road to Fintech IPO:  Capital Networks, Scalable Solutions, Putting People First (Progressa)

Ep14-Oct 19:  The Convergence of Data Intelligence and Money Algorithms (Senso.ai)

Ep15-Oct 26:  Gearing up Hyperion Exchange, Hybrid Models and Security Tokens (Hyperion Technologies)

EP16-Nov 2:  Envisioning the Future of Open Banking for Consumers and Businesses (Lending Loop)

Ep17-Nov 9:  How Artificial Intelligence is Optimizing Sales and the Future of Business AI (Fortuna.ai)

Ep18-Nov 16:  Bridging the AML/ATF Gap with Financial Institutions and the New Economy (Coinsquare)

Ep19-Nov 23:  Future of Business Tokenization and How Blockchain Challenges Concept of Money (TokenFunder)

PAST SEASON 2 EPISODES:

Ep20-Jan 11:  Bitcoin Backed Loans and 2x Credit - Putting Your Crypto to Work (Mauricio Di Bartolomeo)

Ep21-Jan 18:  Meritocracy, Decentralized Innovation and the Power of Collaboration (Hussein Hallak)

Ep22-Jan 25:  Reducing Regulatory Burden by 25% in Ontario (Amar Nijjar)

Ep23-Feb 1:  Getting Smart About Crypto and Insurtech Snapchat Models (Justin Hartzman)

Ep24-Feb 8:  Re-imagining Philanthropy (Daryl Hatton)

Ep25-Feb 15:  Unlock the World (Kate Guimbellot and Jason Sosnowski)

Ep26-Feb 22:  Investing in Private Canadian Companies (Peter-Paul Van Hoeken)

Ep27-Mar 1:  Blockchain Gaming and esports (Shidan Gouran)

Ep28-Mar 8:  Rethinking Brokers (Muhammad Rashid)

Ep29-Mar 22:  The Future of Securities (Richard Carleton)

Ep30-Apr 12:  The Future of Canadian Crypto (Andrei Poliakov)

Ep31-May 14:  Blockchain Law (Jason Saltzman)

Ep32-May 24:  Rallying behind Bitcoin (Frederick T. Pye)

Ep33-May 31:  Indexing Consumer Loans and Financial Literacy (Phillip Postrehovsky)

Ep34-Jul 6:  Accelerating Fintech Growth (Brendan Holt Dunn)

Ep35-Aug 9:  Autonomous Alternative Lending (Vit Arnautov)

Ep36-Aug 22:  Techfins (Michael King)

Ep37-Sep13:  Funding is Female (Jill Earthy)

Ep38-Mar25: Why Identity Matters in an Evolving Online Environment (David Lucatch)

Ep39-Apr23: The Power of Digitization and How to Get Exponential (James Wallace)

Ep40-May22:  Why Bitcoin Exists and Education for the Masses (Austin Hubbell)

PAST SEASON 3 EPISODES:

EP41:  40% pandemic growth, taking risks and innovating Insurtech in Canada (Danish Yusuf, Zensurance)

EP42:  Insights into the Teen Banking Sector and Improving the Financial Well-being of Families (Rim Charkani, WALO)

EP43:  Taking the Mortgage Process From 40 Days to Minutes (Chris Gries, FundMore.ai)

EP44:  The Vanguard of Digital Innovation and Ecosystems in Canada (Various NCFA Advisors)

EP45: Mission-driven and Consumer-centric Financial Services (Keith Taylor, DUCA Impact Lab)

EP46: Making Business Borderless: International Payments and Partnerships (Alastair Thompson, TransferWise)

EP47: How to Change the World: Risk Culture and Work-life Balance (Michelle Beyo, Finavator)

EP48:  How to Connect and Resonate with Customers Through Podcasting (Fatima Zaidi, Quill Inc.)

EP49: Managing Private Placements Has Never Been Easier (Brock Murray and Karan Khiani, Katipult)

EP50:  Compliance to the moon (Mark Binns, Digital Assets Inc.)

 

Interested in getting involved in FINTECH FRIDAY$?  info@ncfacanada.org

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, Tristram Waye, Anna Niemira, and others coming soon.

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

NCFA Fintech Fridays podcast - FINTECH FRIDAYS Podcast:  Season 3

NCFA Jan 2018 resize - FINTECH FRIDAYS Podcast:  Season 3 The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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