SAVE THE DATE - APPLICATIONS AND PARTNRESHIP OPPORTUNITIES OPENING SOON!

Category Archives: NCFA Blog

Want some credit for being in Fintech?

Share

NCFA | FFCON19 Team | March 14, 2019

 

Want some credit for being in Fintech?

Things are tough out there for some parts of Fintech. If you are part of the ICO, blockchain economy for example, they tell you it’s winter. Those bear markets are tough.

It’s like Rodney Dangerfield used to say: No respect.

You just wish you could get some credit for your hard work and your groundbreaking innovation...

I’ve got some good news for you.

FFCON19: FEARLESS has partnered with a company that wants to give you the credit you deserve.

Well, $10 bucks worth on your next ride with our friends at Lyft. (No taxi for you!)

But only if you register and join us on April 3-4 in downtown Toronto.

FFCON19 is a fintech focused conference and expo with several special guests, an amazing lineup of speakers, many well known investors and investment opportunities galore through a pitching competition.

And guess what?

You can still get a discounted ticket. But you only have 2, that’s right, TWO days left.

This deal disappears on March 15, 2019.

So if you would like Lyft to give you a little fintech credit while networking, pitching, speaking, connecting and getting plugged in at FFCON19, you need to head over here: https://fintechandfunding.com/

 

Thanks for the Lyft!

Team FFCON19

 

5th ANNUAL 2019 FINTECH & FINANCING CONFERENCE HOSTED BY NCFA AND PARTNERS

FEARLESS

 

Day(s)

:

Hour(s)

:

Minute(s)

:

Second(s)

APR 3-4 TORONTO

FINTECH 360. BLOCKCHAIN. AI CONFIDENTIAL.  FUNDING INNOVATION.  ALTERNATIVE FINANCE. GLOBAL EDUCATION. INDUSTRY WORKSHOPS. PITCHING. PRIME NETWORKING. AWARDS

Thanks to the CITY OF TORONTO for Sponsoring a block of Limited quantity Start-up Tickets to attend FFCON19 from low as $50.  Hurry and snag one before they are gone!

Share

FFCON19: FEARLESS | Apr 3-4, Toronto Canada – Fintech, Blockchain, AI, Funding Innovation and Alternative Finance Conference

Share

LAUNCH.  BUILD.  CONNECT.  INVEST.  SCALE.

The National Crowdfunding & Fintech Association of Canada (NCFA) and partners are delighted to present the 2019 Fintech & Financing Conference and Expo (#FFCON19) taking place April 3-4, 2019 in downtown Toronto.  

In its 5th year, FFCON19 remains inclusive and one of the most engaging platforms in Canada for high growth and emerging startups-scaleups, professionals, regulatory bodies and ecosystem stakeholders to launch, build, connect, invest and scale the next generation of rising stars at the intersection of finance, technology, entrepreneurship and global digital markets.

The theme of FFCON19 is FEARLESS. The theme exudes the boldness of the fintech space where small players are challenging orthodoxy, going against convention and transforming the financial  industry with fresh insights and thinking.  Our mission is to drive all the advantages of technology to help transform the financial industry at home and abroad with innovative initiatives. This means an emphasis on network effects, collaboration, thinking strategically and bold visions with a global appeal. If you are a fintech, blockchain, peer finance, AI innovator, investor or a company actively raising capital or key decision maker/stakeholder in technology and capital markets innovation initiatives and programs, FFCON19 is a must attend event.

VIP Ticket Registration includes Free access to the inaugural Global Fintech Program LEARN MORE

(UNTIL MARCH 15)

50+ SPEAKING AT FFCON19 (lots more to come...)

 

5th ANNUAL 2019 FINTECH & FINANCING CONFERENCE HOSTED BY NCFA AND PARTNERS

FEARLESS

 

Day(s)

:

Hour(s)

:

Minute(s)

:

Second(s)

APR 3-4 TORONTO

FINTECH 360. BLOCKCHAIN. AI CONFIDENTIAL.  FUNDING INNOVATION.  ALTERNATIVE FINANCE. GLOBAL EDUCATION. INDUSTRY WORKSHOPS. PITCHING. PRIME NETWORKING. AWARDS

Share

Ep26-Feb 22: Crowd Raising with Peter-Paul Van Hoeken of FrontFundr

Share

NCFA Canada | Feb 25, 2019

JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY.

Ep26-Feb 22:  Crowd raising with Peter-Paul Van Hoeken

About this episode:  On this episode of the Fintech Friday Podcast, our host Manseeb Khan sits down with Peter-Paul Van Hoeken the CEO of Frontfundr. They chat about crowd raising, drinking your own whiskey and the future of Canadian crowdfunding.  Enjoy!  (Transcript)

Host: Manseeb Khan, NCFA, Fintech Fridays show host

Guest: PETER-PAUL VAN HOEKEN, Founder and CEO, FrontFundr (LinkedIn)

BIO:   Peter-Paul has over 15 years of experience in finance, investment management, and business consultancy. He's held multiple senior management positions with global banks including ABN AMRO Bank and Royal Bank of Scotland in the areas of corporate strategy, commercial and investment banking.

Upon relocating with his family to Canada in 2010, Peter-Paul worked as a consultant for several early stage companies and experienced the challenges that they face in attracting capital. He realized that venture financing was not leveraging technology and in 2013, Peter-Paul founded FrontFundr to address this challenge and take on the opportunity to create the New Capital Market, online and accessible to everyone. Peter-Paul also serves as a Director on the National Board of the Private Capital Markets Association of Canada (PCMA). He is an Advisor of the National Crowdfunding & Fintech Association Canada (NCFA) and Founder Member of the Institute for Blockchain Innovation (IBI). Peter-Paul holds a Master of Science in business economics and finance from Erasmus University Rotterdam, in the Netherlands.

TWITTER: @frontfundr, @petervanhoeken

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

Listen to more podcasts here: Season 1 | Season 2

 


Transcription of Interview

Intro: Welcome fintech Friday's a weekly podcast brought to you by the National Crowdfunding and Fintech Association of Canada and partners.Covering all things fintech block chain be AI and alternative finance.

Manseeb Khan: I have the absolute pleasure of sitting out with Peter Paul.  Peter Paul. Thank you so much for it. Oh, it's said I mean I've been super excited to have you on the show. For those who don't know you Paul is actually the CEO and  Founder of FrontFundr. Peter Paul thank you so much for the now.

Peter-Paul Van Hoeken:  Hi Manseeb it's a pleasure to be on your show.

Manseeb Khan: So, for the five or six people that may not know essentially who you are and what FrontFundr is could you just give us a quick rundown of a little bit of your background and a little bit of what FrontFundr.

Peter-Paul Van Hoeken: Sure. Yeah so, my name is  Peter-Paul Van Hoeken and you can find our CEO of FrontFundr. My background is basically in finance. I worked for about eight nine years in banking in Europe relocated to Canada in 2010 and also moved on, moved away from the banking industry more down the entrepreneurial path and started working with small companies help them get ready to raise capital and connected with the prospective investors and so that that time was actually that wasn't an experience a time where I experience how challenging it is for small companies to raise capital and also how we're not using electronic means like the internet and digital technology to facilitate that whole process of connecting early stage companies with investors. So that's where the whole idea about FrontFundr essentially came from. And it was by doing already happening in other geographies like the U.K. Australia is essentially to bring investing in funding and an investment in young companies to bring it online and connect startups with the wider investor community essentially the public and that's called these days often investment, crowdfunding or equity crowdfunding and that is what friends are doing. We're currently Canada's leading online investment crowdfunding platform.

Manseeb Khan: I love your guys approach. I love the other Canadian companies I mean we definitely had some of the other crowdfunding and opening up the borders and just allowing everybody to kind of be able to invest in companies that shows in and of itself it just makes it that much more, the fact that guys are making that much easier and much more accessible and just really simplifying the whole investment process and kind of making it that much more welcoming for everybody. That was also pretty incredible.

Peter-Paul Van Hoeken: Thanks yeah, it's been an interesting journey because the challenge of course crowdfunding is one thing in penetration of crowdfunding It started with Kickstarter and Indie go and those and fund raiser in Canada  is the traditional form. But when it involves Investments and Securities of course it becomes a totally different ball game because then you're dealing with you know securities regulation as well and so to bring those pieces together to you know the regulatory side of it and the technology side and then to  basically launch that the platform has been definitely been in an interesting journey so far but as you say it's very exciting too for us to enable companies to raise capital from essentially from the public right? and to reach out to perhaps their existing customers and anyone that really is excited about what these companies are doing. And I'd like to be part of it now they can actually invest in these companies that for as little as you know a couple of hundred dollars you become a co-owner in a company. So yeah, it's an it's a very exciting phenomenon and it's on the rise worldwide but so. But now also in Canada.

Manseeb Khan: Yeah. No, I mean I absolutely agree with you. I mean now that startups are on a pedestal. I mean like if you still LinkedIn that long enough you definitely find like five or six companies that you find of interest and the fact that like now you can take it one step further and kind of go like oh hey you know like that company. I'll make up a company like the company that like the bird of Toronto or whatever. Right. Oh, like you love them, and like the CEO has an interesting story. You know hey with FrontFundr you can actually invest like a couple hundred dollars like you said in that company actually support their journey and actually support the vision that's pretty incredible. I'm going to put a pin into you mentioned regulations. I'll put a pin into that for a little bit later. You had an interesting journey. I mean I want to dig into that a little bit more. Could you just give us a little bit more detail of what your journey looked like the trials and tribulations because this isn't your first time at the rodeo and you guys are right now you guys are going through a massive raise. So, could you just talk a little bit more of the journey and everything leading up to the raise and currently what's kind of going on with the raise.

Peter-Paul Van Hoeken: Sure yeah. And it's a very excited to share and share that with the listeners is that we you know we are indeed. And we just launched our own race. I mean you know at the end of the day we are in an early stage company too. And we also need capital to grow. So. So why wouldn't we drink our own whiskey and use our own platform to raise capital. And that's exactly what we're doing. And we've done it indeed before twice already. So essentially listing FrontFundr on Frontfundr so listing ourselves on our own platform and opening it up for the public to invest. And we just launched our third campaign last Thursday on Valentine's Day along the lines of FrontFundr the heart of Canadian business and opening it up for everyone to participate in our company in our you know in our online platform. And for a minimum investment of five hundred dollars. So, we're. Yeah. We're really using our own solution and obviously fully believe in it. And it's exciting. It's also great to be actually on the client side a client's company side of our platform right. So really use our own solution to raise capital for own capital form our company. So, we are very excited about that. And we just launched it last Thursday as mentioned and we will close by the end of March. We will close this raise.

Manseeb Khan: I love that you guys a drink your old whiskey. I'm going to put that into the little description. I love that so much. It's interesting switch going from the actually running the platform to actually being on the platform that I mean  kind of funny. It's very interesting yes. Yeah. It is interesting. Like you don't really. It's a very unconventional approach does not many it makes sense like it that makes sense. Hey like if you are a crowdfunding platform you guys are going to raise want to open up the opportunity for everybody that's been following your journey. Because now like startups actually have fans behind them which is really interesting. Right.

Peter-Paul Van Hoeken: Well yes absolutely. It is an interesting experience and it's kind of it's in a way almost a no brainer. And yes of course you're using your own platform right but it's it is indeed an intense experience to be sort of on the client side if you like and use our own platform also. It's a great experience because we've had done it twice before is that the you know as you just mentioned companies raising on our platform you're really going. You're going out there to potentially anyone who wants and invite them to participate in your company, but you need to work on that. Right. So, we always tell our client companies hey you know listing on FrontFundr is nuts. So that's the end all be all. Yeah exactly. You know you've got to support it as a company by you know sharing exciting new stories about your company about progress or milestones or any updates that to show that your company is doing well and growing and the things that people can get excited about. So, you want to share it with your potential investors and that's how you attract investors and then come to the platform. We've got a significant user pays no investor base but it's still always as we like to say. Kind of you know working in partnership with companies on our platform to make a successful raise right.

Manseeb Khan: No, I absolutely agree with you  through. I mean I'm just thinking of  putting your company just on FrontFundr and just like really crossing your fingers and just like saying your prayers and hopefully you're going to hit that target. It's really silly. You definitely have to put in the work into making the company of what you wear.

Peter-Paul Van Hoeken: Yeah. We often say we say look you're not outsourcing your funding to us. Yeah exactly. Yeah totally. Yeah that's it that's it's a great way to put it you know outsourcing your funding so to switch gears. You briefly mentioned regulations, and could you just turn you over to me. All right. My favorite topic. Yeah, I know I figure I figured you'd be the you should be the right person. To talk about it , when people think regulations, they think Peter-Paul FrontFundr.  That's the guy the guy you ought to talk. I mean we definitely had a couple episodes back we talked about the regulatory burden that's currently going in on Canada and you do have you do play a significant role when it comes to the regulation side of Canadian fintech business. Could you just I mean like give us a little bit of you know like again for the people that may not know the work that your kind of doing could you just give us a little bit understanding of the work that your kind of doing when it comes to regulation and express your love for regulation.

Peter-Paul Van Hoeken: Sure. Love and hate. I guess yeah. No, it's. Well you see the fact that we're operating. First of all, we are as FrontFundr and other platforms that are the take on funds from form investors are you know are our investment in any investment business right. And the Securities Industry and that's regulated. And that in itself the fact that the industry is regulated is fine and is actually needed. And then we've seen that in the past with a little note that this is a very challenging industry. It can be sort of tempting and then so there are rules in place to regulate that. And you know  I understand that I support it and certainly for us we are basically have we with FrontFundr or we you know we operate a platform where we enable anyone really to invest in particular particularly early or earlier stage companies right. So, and so that's and because we are inviting the public to not invest in these companies’ early stage or for defense companies but all private companies. It is very important that these investors that may have never invested before and ever since companies understand what they're doing and understand the risks of investing in early stage companies right.  So, and that and regulation supports that and make sure that investors are informed about the potential returns and risks before they make an investment decision. So, the rules and it's been with FrontFundr we've been kind of pioneering this in Canada with several other market participants as well is to explore this new way of enabling companies to raise from the wider investor community. And typically, it was restricted to you know to  Angel investors, VC’s, and other accredited investors so investors whether certain  amount of wealth and that is only around 3 percent of the total population. So, 97 percent of the population has traditionally been looked out for from investing in private companies. Right. Well there is a huge group of course in that audience that 97 percent that do have the may not be accredited but they do have investable assets and they say that they are interested in investing in early stage companies today that they are excited about and think may do very well and they want to get a piece of the action so that. And so, because it's a whole new group of providing regulation is key now the regulation got, I haven't read it in kind of our review security regulations is a provincial matter. So we have provincial securities regulators in Canada and they have introduced rules to support investment crowdfunding in the last few years in Canada but there are some challenges with those rules and for start because we are dealing with multiple securities regulators have multiple rules have been introduced so we've we don't have an harmonized investment crowdfunding rules in Canada and that is challenging because there are differences in the rules to be implemented. They're kind of fragmentized which means that you know in B.C. different rules or different limits or you know ways for companies to raise capital through events crowd from a play I suppose to other provinces. And so those differences are clearly a challenge for both for companies that are looking to raise capital from the right investor community across Canada as well as for investors because investors in one jurisdiction may be able to invest in an early stage company but not in another jurisdiction. And so that said that that does cause challenges and therefore you know clearly we're not we're shoring up, tapping the full potential yet of what investment crowdfunding has to offer and put that in perspective Manseeb even with the fact that in other geography like in the U.K. and now also south the board in the US where they do have a federal investment crowdfunding rules it has already become basically mainstream financing. And so, and so even in Canada we run the risk of falling behind because there are rules that are in place are not being harmonized and therefore making make it difficult for market participants to use when.

Manseeb Khan: It seems like a no brainer. I like it this is like another no brainer thing of like hey if we're going to bring companies like FrontFundr or if we are a crowdfunding platform where everyone can because of an investor they should be able to get the same kind of protection know the same kind of rules like have some kind of regulation or regulatory body that kind of monitors it and not make it just like province specific right because like the fact that like I mean again it's probably cause it's very early. I mean you know like Canada has been. I've mentioned this more times than I can  count but Canada has been always traditionally very conservative in the past. So, they're always willing to kind of like hold back on certain things when it comes to  like well certainly when it comes like the regulatory body. So, I mean the fact that you said like the U.K. and the United States having already like rules and regulations they would have the ball rolling. It makes sense. I mean I think Canada is with amazing guys like you and like with Craig from who runs the NCFA here it's you guys are only going to get the ball rolling a lot faster and you guys are going to help bring awareness and it's just a matter of time before we have an overarching regulatory body that kind of covers like all of Canada and like any Canadian or any Canadian investor can kind of just like invest and if see a really amazing company in B.C. like you mentioned they can invest in that or if they see an amazing company in like Iqaluit that they really love they can invest in that as well.

Peter-Paul Van Hoeken: Right yeah. It is it is a matter of time. Absolutely. You know I think what is important and it's rather soon and later we've had these rules, these new investment  rules in place now for over two years so there are clearly you know lessons learned in an experience with how these rules work and what doesn't work. So, you know we have enough informational and experience to  move forward with indeed you know harmonizing the rules. And again I think you know defects we're not necessarily you personally I'm not even asking for necessarily one national regulator which will definitely take much more time but it is more about harmonizing rules particularly this stage of investment crowdfunding because those rules are particularly targeted to our purpose is to is to enable you know startups early stage companies that need financing to grow and thrive. You know the whole point is to provide those companies better access to capital. So, you know root of the fragmented rules currently exist make that difficult and therefore they raise the threshold for these companies to raise capital right. And at the least they're raising the  cost of raising capital for these companies. And again, given the you know the huge potential that we've seen pretty materialize in other in other countries. Is that for these companies to tap this pool of capital. Very significant pool of capital is obviously is important and a huge potentially huge help to these companies to raise capital.

Manseeb Khan: Yeah, I mean it. And it really opens up like it opens a whole world of opportunity right for these early stage companies knowing that they don't really have to go the traditional route when it comes to investing right. I mean that's kind of why you're seeing a lot of companies now in like pretty much all 2018 you're seeing a lot of companies create their own ICO right because they don't want to go the traditional route of finding angel investors, finding VC's to help fund the company they're like hey we'll just create a coin and we'll just have like our users, our customers and our future customers raise money through that. Right and it just. Yeah. Like the fact that like a lot of early stage companies are kind of locked out of this huge potential market base of money that could really help them. It's kind of silly but like it’s going to be only a matter of time where more companies going to have access to that and just crowdfunding is going to be that much more incredible.

Peter-Paul Van Hoeken: Totally. So, the effort you know you referred early on to initiatives and also with the uncertainly and NCFA taking lead in in promoting you know with burden reduction of regulation and that that that's that will be that will be important and it will definitely help to expedite this process of getting to you know harmonized investment crowdfunding rules.

Manseeb Khan: Yes. And they're just going to get with the I mean harping back on the burden reduction. It's I mean once we once we get that all squared away it's going to give a lot more. It's going to give that much more breathing room. Right. I'll admit that's just one less thing that crowdfunding companies just did just to really worry about  now they can actually focus a little bit more on like you test out your product drink your own whiskey and make it as incredible for investors to come in make it as seamless and just make the best product for the market.

Manseeb Khan: So yeah. So, it's an opportunity for some investment crowdfunding enables companies not only to attract the funding they need to grow but it's also an opportunity for these companies to create awareness around their company and engage with the wider investor provider community by offering an opportunity to invest in their company. So, it's a kind of a combined funding and marketing exercise as well. So essentially by inviting the community to invest in your company you are able to share in the upside, but you also create a whole community of brand champions that literally have an invested interest because they invested in the company to you know to talk about your company and to share in their in their networks right. So, the companies that that do very well on our platform are companies that understand that and recognize the value of going out there to community not only to capital need but also to create awareness around throughout our company.

Manseeb Khan: Yeah no I absolutely agree with you. I mean the best of the best kind of brand champions to have would be investors right because they know your product. they know you in and out. They know your story in and out. And the fact that they can kind of show that to their network and just like it just starts spreading out more and more awareness. I mean that's the best kind of PR. More or less than you can really ask for.

Peter-Paul Van Hoeken: Absolutely. Yeah.

Manseeb Khan: So, I mean aside from the raise is there anything that's really top of mind for you that you're really excited about in 2019.

Peter-Paul Van Hoeken: Well I am you know given a view of where we are today and the successes with the investment crowd from what we've seen in across the globe basically it's exciting to see that this in some in some countries it's already case right where it already has become mainstream financing. So, the fact that we've unlocked huge pool of capital for early stage companies. To tap is very exciting. And again, we've got some work to do here in Canada certainly on there on the regulatory side to make to remove unnecessary barriers to and that enables us to also accelerate growth investment crowdfunding in Canada. And so. So, we've come a long way and there is there is more work to be done. But I'm I see 2019 as I in a year where investment professionals from Canada. Can really sort of push through and become you know head towards becoming a mainstream source of financing as well.

Manseeb Khan: Yeah. No, I mean I'm very excited for crowdfunding to really just be that big be another channel for companies to really grow and to really grow and prosper. I don't know if you can answer this question but so with like after the raise what we can essentially expect from Frontfundr. I mean when people think a raise there's usually a purpose behind it so like say Frontfundr or hits the target and what can investors from Frontfundr can expect afterwards.

Peter-Paul Van Hoeken: Great. Yeah. Oh, great question. Absolutely. We're obviously raising capital because we want to grow it takes the company to the next level. And so, for us that means that we basically know we've proven the concept in Canada. We've closed over 30 successful raises on our platform and we are now really, we already operating from coast to coast but really now at a stage  where we are going to take it to the next level build out the platform nationally and also expand in the let's say the private market. So, we started with smaller capital raises also to prove the concept and demonstrate that it is it is possible to raise funds from the public basically. And now we're going to  expand in terms of you know taking on companies that are still private companies that are in later stage companies that are looking for growth and expansion capital. And so,  we're diversifying into a lot of different stages of development of companies and those companies you know they're there first and then still need money to take it take it to the next to the next level and expand. So, we're bringing on those companies and it also enables us on the investor side of our platform to offer our investor clients you know more opportunities for diversification so they can invest in earlier stage companies that are really in the early days of proven concept to later stage companies typically already generating revenues that will be have a different risk profile. So, it enables investors to create a portfolio if you like in companies in different stages of development so that's on the on the road map. And now that we've proven our concept also going to take front runners and makes leverage terminals getting the word out there. So, promoting fund from there and marketing around our brand we kind of stepped it up. We're going to step up our activities to support companies successfully closing raises so we're going to build out of these companies with them with their campaign. And so that's now those are some key elements of what's what you can definitely expect in the next the next 12 months for us. And I mean ultimately, we are we want to build out our positioning in Canada and we want to make that platform better as well. So, part of the use process also going into further developing our technology platform and essentially making it easier for companies to build their campaigns on our platform and for investors to make the entire investment process as you know as smooth as possible. So those are some key elements of what we're looking to do with the proceeds of this round.

Manseeb Khan: I mean I'm excited to be able to invest in like later stage companies that I think that seems very super enticing that in and of itself I'd like not only can invest in companies very early on but you can actually invest in companies in later on stages to have a little bit more proven track record like that. I'm excited for the for the future of a Frontfundr. So, with that I'm just gonna I'm just gonna wrap it up. Ok. So, what would be the best way for the audience to either reach you Peter Paul or Frontfundr would it be through email, Twitter, Snapchat, like smoke signal, Raven, carrier pigeon what would be the best way  for the audience and potential future investors to reach out to you guys.

Peter-Paul Van Hoeken: Yeah absolutely. So. Well the best way to get in touch with us and learn more about what we're doing is to go to our Web site Frontfundr dot com and all the information is there you can explore you know learn how it works. You can explore investment opportunities obviously also learn about our own capital raise right now. So, I would say that's the best way to get in touch with us. We always also active on Twitter Facebook Linked In and so it's very easy to find us. But I would say visit our Web site and an explore sign up so we can keep in keeping in touch with you and keep you I'll keep you posted on the on what's happening at Frontfundr. And yeah that's the that's the best way frontfundr dotcom.

Manseeb Khan: Thank you so much for staying with me today and I'm super excited to have you back on when you guys close around and start taking on more later stage companies.

Thank you. Thanks, Manseeb thanks very much.

Outro : you've been listening to fintech Fridays brought to you by NCFA and partners. Tune in weekly for the latest fintech Friday podcast by subscribing to this channel. The National crowdfunding and FinTech Association of Canada is a non-profit actively engaged with social and investment fintech sectors around the globe and provide education research industry stewardship services and networking opportunities to thousands of members and subscribers. For more information please visit and see if a Canada dot org. Oh yea.

 

End of Podcast

 

Subscribe and Listen to more Fintech Fridays podcasts here

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!

Interested in getting involved as a partner or participant? 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

Ryan Aceman, special to BNN Bloomberg | March 15, 2019 #FFCON19 is set to showcase the importance of being fearless to succeed in Fintech 12 cutting-edge companies will compete in a ground-breaking pitch competition  Key emerging trends from tech and investment realms will be highlighted Where finance and technology meet, lies one of the most fascinating sectors of the modern world. From its inception, the financial technology (Fintech) space has been built on inventive thinking and unconventional concepts. This crucial intersection has the power to transform global banking, investing, and many other sectors that people and businesses interact with on a daily basis. "The Canadian Fintech industry is leading the way in revolutionizing financial services and events such as FFCON19 to help create a strong ecosystem that cultivates innovation and growth.  Excited to be a part of it!" — Dr. Dan Rosen, CEO of d1g1t.com From April 3rd–4th in Toronto, Ontario, FFCON2019: Fearless will aim to embody this innovative essence, hosting a variety of influential thought leaders, industry experts, and 750 attendees. The event will function as a comprehensive and daring expo showcasing innovators and disrupters that are having significant impacts within Fintech. Attendees will learn vital content delivered from ...
Read More
Canada’s leading Fintech and financing conference
Chainbits | Nathan Rodriguez | March 14, 2019 After the ongoing saga of Canada’s largest cryptocurrency exchange QuadrigaCX’s downfall, another Canadian cryptocurrency company is now coming under scrutiny. Canada Bitcoin Exchange Inc. is now being investigated as a possible scam. Warning Against Canada Bitcoin Exchange The British Columbia Securities Commission (BCSC), a Canadian financial regulator, has issued a warning against Canada Bitcoin Exchange. The watchdog stated that the company was offering overly attractive BTC (Bitcoin) investment plans to its customers. Canada Bitcoin Exchange was offering 4 different BTC investment plans on its website. Each of the programs asked users to invest a certain amount of capital for a period of 24 to 48 hours. In return, the company offered returns that started at 3.586% and went as high as 7.985%. The website stated that Canada Bitcoin Exchange would reinvest customers’ BTC in other stocks as well as cryptocurrencies. The company claimed to have a team of professional market analysts in place who knew how to find hot stocks. The company also stated that this project was run by the Canada Bitcoin Exchange Group. Signs of a Scam Upon investigating the company, the BCSC found that Canada Bitcoin Exchange was an ...
Read More
Another Canadian Crypto Exchange Under Fire
Dr Dan Rosen is a FinTech Entrepreneur and Quant. He is currently the Chief Executive Officer of d1g1t Inc., a new digital wealth management platform, powered by analytics, that offers advanced transparent portfolio management services to advisors and their individual investors. He is an Adjunct Professor of Mathematical Finance at the University of Toronto and was the first Director of the Centre for Financial Industries at the Fields Institute for Research in Mathematical Sciences. Dr Rosen was the co-founder and CEO R2 Financial Technologies, acquired by S&P Capital IQ in 2012, and where he was Managing Director for Risk and Analytics until 2015. Prior to starting R2 in 2006, Dr Rosen had a successful career over a decade at Algorithmics Inc., where he led financial engineering and research, strategy, products and marketing. In addition to working with numerous financial institutions around the world, he lectures extensively on financial engineering, portfolio management, enterprise risk and capital management, credit and market risk, valuation of derivatives and structured finance. He has authored numerous risk management and financial engineering publications, including two books, and several patents, and serves in the editorial board of various industrial and academic journals. Dr Rosen was inducted in 2010 ...
Read More
Meet FFCON19 Featured Keynote Speaker: Dr. Dan Rosen
NCFA | FFCON19 Team | March 14, 2019 Want some credit for being in Fintech? Things are tough out there for some parts of Fintech. If you are part of the ICO, blockchain economy for example, they tell you it’s winter. Those bear markets are tough. It’s like Rodney Dangerfield used to say: No respect. You just wish you could get some credit for your hard work and your groundbreaking innovation... I’ve got some good news for you. FFCON19: FEARLESS has partnered with a company that wants to give you the credit you deserve. Well, $10 bucks worth on your next ride with our friends at Lyft. (No taxi for you!) But only if you register and join us on April 3-4 in downtown Toronto. FFCON19 is a fintech focused conference and expo with several special guests, an amazing lineup of speakers, many well known investors and investment opportunities galore through a pitching competition. And guess what? You can still get a discounted ticket. But you only have 2, that’s right, TWO days left. This deal disappears on March 15, 2019. So if you would like Lyft to give you a little fintech credit while networking, pitching, speaking, connecting and ...
Read More
Want some credit for being in Fintech?
CSA | March 14, 2019 Toronto – The Canadian Securities Administrators (CSA) and Investment Industry Regulatory Organization of Canada (IIROC) today published Joint Canadian Securities Administrators/Investment Industry Regulatory Organization of Canada Consultation Paper 21-402 Proposed Framework for Crypto-Asset Trading Platforms. The consultation paper seeks input from the fintech community, market participants, investors and other stakeholders on how regulatory requirements may be tailored for crypto-asset trading platforms (platforms) operating in Canada. “This consultation outlines a proposed regulatory framework that provides clarity for platforms, greater market integrity and protection for investors,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Platforms have told us that a tailored regulatory framework is welcome as they seek to build consumer confidence and expand their businesses across Canada and globally.” “The emergence of digital and crypto assets continues to be a growing area of interest for regulators, investors and marketplaces – and, together, securities regulators are taking steps to deepen our understanding of this area,” added Andrew J. Kriegler, President and CEO, IIROC. “We must adapt to innovation, and provide clarity to the market about how regulatory requirements might best be tailored and applied to these unique business models, while ...
Read More
Canadian securities regulators consult on regulatory framework for crypto-asset trading platforms
Polymath / KABN release | March 11, 2019 TORONTO & SAINT MICHAEL, Barbados & GIBRALTAR--(BUSINESS WIRE)--Polymath (www.polymath.network), the global leader in software solutions that enable assets to be digitized, distributed, fractionally owned, and ultimately liquidated, has formed a consortium in close collaboration with KABN (www.kabn.network), a global financial services platform that has developed, among its suite of products, a patent pending, blockchain based, GDPR compliant, Always On, global identification and accreditation as a support service for investors and other types of contributors. Polymath is leading the effort to make it easier for organizations to create digital securities from traditional assets through partnerships and a community that supports a transparent and compliant process for issuers and investors. Through its extensive service provider network with firms like KABN, Polymath provides security token issuers with access to top quality service providers. “Our solution supports the creation of digital securities from a wide range of traditional and non-traditional assets,” said Kevin North, CEO of Polymath. “The intention of this partnership is to create a best practice model for customers who need help with the full lifecycle of an STO (Security Token Offering). In this model, the issuer would work with an integrated network of ...
Read More
Polymath and KABN Announce Consortium to Accelerate the Creation, Distribution, and Management of Digital Securities Across Multiple Jurisdictions and Platforms
NCFA Canada | Burden Reduction Committee | March 1, 2019 Executive Summary In response to the Ontario Securities Commission’s (OSC’s) January 14, 2019 request for comments, this submission responds to the eight questions set out in the OSC’s Staff Notice 11-784. This submission draws heavily on, and also updates, the Association’s earlier submission to the OSC dated August 24, 2017 (see Appendix), which primarily focused on the crowdfunding requirements in Ontario. The National Crowdfunding and Fintech Association of Canada (the Association) represents over 2,000 fintech SMEs and individual members that support financial and capital market innovation, small businesses and technology. We are pleased that the Ontario government is undertaking this important regulatory burden reduction initiative to the benefit of all Ontarians. The Association has consulted a number of diverse crowdfunding and fintech stakeholders – including exempt market dealers, industry experts, securities lawyers, regulators and government agencies and is proposing several recommendations to reduce unjustifiable burdens placed on Ontario’s businesses. The Association recommends that the province undertake the following: The OSC conduct a review and publish a report evaluating the effectiveness of Ontario’s crowdfunding regulations (45-108) compared to other jurisdictions in Canada and international competitors such as the UK, US and ...
Read More
March 1, 2019:  NCFA Submission to the Ontario Securities Commission on Regulatory Burden
NCFA Canada | Mar 8, 2019 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep28-Mar 8:  Rethinking Brokers with Muhammad Rashid About this episode:   On this episode of the Fintech Friday's Podcast, our host Manseeb Khan sits down with Muhammad Rashid the CEO of Moregidge. They chatted about how to find a broker that will work for you, how they are revolutionizing the mortgage space and their plans for the future. - Enjoy! HOST:  Manseeb Khan, Fintech Friday's show host GUEST:  MUHAMMAD RASHID, Co-Founder and CEO, Moregidge (Linkedin) BIO:  Muhammad started his career at Flipp, a Toronto-based startup helping retailers digitize traditional circulars and re-imagine the weekly shopping experience. He built and scaled the operations team from 10 people to over 300 across 4 countries. He was also instrumental in developing user retention and retailer ROI strategies through content acquisition and promoting added utility within the mobile app. From there, Muhammad joined Sampler, working alongside manufacturers to distribute targeted, measurable samples directly to consumers. He lead the strategy and expansion of their logistics network into international countries including the UK, France, Italy and Germany. Muhammad is now the Co-Founder and CEO of Moregidge, focusing on reinventing the home-buying experience. Subscribe ...
Read More
Ep28-Mar 8:  Rethinking Brokers with Muhammad Rashid
FrontFundr | March 7,2019 On the 108th anniversary of International Women’s Day, FrontFundr, Canada’s number one investment crowdfunding site has commissioned a survey to understand gender parity in personal finance for women, and the results aren’t good. Only 12% of Canadian women aged 25 - 65 feel that they, personally have Financial Equality, where wealth is distributed equally. 29% of women in the same survey felt they had Financial Independence. Financial independence is not only a source of confidence but also gives women the credibility to participate in important matters of decision making, for themselves and their families. 45% of women surveyed believed personally they had none of Financial Equality, Financial Independence, a plan for retirement or enough savings for retirement. Women manage $2.2 trillion of financial assets in Canada CIBC undertook their Women and Wealth study in November 2018, which highlighted the financial assets that women control. They found41% of women (single, divorced, widows, and women responsible for investment decisions) control no less than $2.2 trillion of financial assets. And that number is expected to rise quickly, as the cohort of women with stronger labour incomes and retirees grows. CIBC estimates that by 2028, women will control just under $3.8 trillion ...
Read More
Six steps to achieve financial gender parity this #IWD
FCA | March 8, 2019 The Financial Conduct Authority (FCA) has today published two pieces of research looking at UK consumer attitudes to cryptoassets, such as Bitcoin or Ether. The research includes qualitative interviews with UK consumers and a national survey. The qualitative research indicated some potential harm, including that many consumers may not fully understand what they are purchasing. For example, several of those interviewed talked of wanting to buy a ‘whole’ coin, suggesting they did not realise they could buy part of a cryptoasset. Despite this lack of understanding, the cryptoasset owners interviewed were often looking for ways to ‘get rich quick’, citing friends, acquaintances and social media influencers as key motivations for buying cryptoassets. See:  SEC wants big data tools for monitoring and enforcing cryptocurrency market compliance Both the survey and qualitative research found that some cryptoasset owners made their purchases without completing any research beforehand. However, despite the general poor understanding of cryptoassets amongst UK consumers, findings from the survey suggest that currently the overall scale of harm may not be as high as previously thought. 73% of UK consumers surveyed don’t know what a 'cryptocurrency' is or are unable to define it – those most aware ...
Read More
FCA reveals findings from first cryptoassets consumer research

 

Share

FINTECH FRIDAY$ (EP24-Feb 8): Re-imagining Philanthropy with Daryl Hatton, Founder and CEO of ConnectionPoint/FundRazr

Share

NCFA Canada | Feb 8, 2019

Ep24-Feb 8:  Re-imagining Philanthropy with Daryl Hatton

About this episode:  On this Episode of the Fintech Friday's Podcast, our host Manseeb Khan sits down with Daryl Hatton the CEO of Connection Point. They chatted about microprojects, saving little girls and puppies and how to get hooked on Philanthropy. Enjoy!

  • Focus on value and avoid the complicated terminology when growing new innovative markets
  • Branding customer segment-focused funding products, white labeling collaborative uses cases
  • Crowdfunding for good at the intersection of technology, people and impact

Host: Manseeb Khan, NCFA, Fintech Fridays show host

Guest: DARYL HATTON, Founder and CEO, ConnectionPoint / FundRazr (linkedin)

BIO:  Daryl Hatton, CEO of award winning international crowdfunding company FundRazr and of the innovative sponsored crowdfunding company Sponsifi has founded multiple start-ups and helped bring one to a successful NASDAQ IPO in 1999. He actively serves as board member or advisor to handfuls of other hot companies in Canada. In addition, he is a Director and Crowdfunding Ambassador for the National Crowdfunding Association of Canada. As a social media guy and frequent public speaker, his Twitter tagline includes words like “#KingOfGastown, entrepreneur, cardiac survivor, foodie, whisky nut, philosopher, mentor, father and friend.”

* Senior Business and Technology Executive
* Proven Corporate / Product Development Execution
* Collaborative Leader / Corporate Strategist
* Experienced in Tech Mergers and Acquisitions
* IPO (OPTO) on NASDAQ 1999
* Successful sale of OPTO to EPAY April 2008
* Successful sale of Backstage Technologies to Real Networks 2010
* Multiple private buy/sell transactions while at Optio
* IPO (Modatech) on TSXV 1987
* Multiple successful software startups with Angel / Private Funding
* Mentor / advisor / board member of multiple startups
* Successful, deep partnerships with PayPal, Facebook, Twitter, Google

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

Listen to more Fintech Fridays podcasts: Season 1 | Season 2


Transcription of Interview

Intro: Welcome fintech Friday's a weekly podcast brought to you by the National Crowdfunding and Fintech Association of Canada and partners.Covering all things fintech block chain be AI and alternative finance.

Manseeb Khan: Daryl thanks so much for sitting down with me today. I mean I'm super excited to jump right into it.

Daryl Hatton: Happy to be here. We're going to have some fun.

Manseeb Khan: Awesome. So, could you just for the audience give us a little bit of who you are and essentially who and what Connection Point?

Is sure  well I'm Daryl Hatton founder and CEO companies call connection point. We're best known for FundRazr which our  enterprise crowdfunding platform is. I'm a serial entrepreneur, startup company took a public on Nasdaq way back in nineteen ninety-nine and we had one of the fastest growing companies in the U.S. that year. Fast forward a bunch of years and I left that and said gee do I want to do business again. And I started Connection Point six months in the day after I left the other company. And along the way we started to do fundraising. We learned a whole lot about the market. And here we are.

Manseeb Khan: Awesome. So, what made you kind of switch. Like so why crowdfunding ? Like this was I'm assuming this is early 2000s, right? Like you said you were essentially one of the OG's entrepreneurs out here. Yeah. Why crowdfunding ?

Daryl Hatton: It was actually 2008 and one of the things that we were looking to do is like I want to start this new business but because I was under an intellectual property rights deal with my previous company actually couldn't think about it really. And being careful about it didn't want to think about it while I was with the other company. So, six months in a day I now get free and out and I said OK what can I do. And it took from about September of that year until January to really figure out that I wanted to get into the social funding space. And the reason I was doing it was I was coaching a lacrosse team and I was looking for ways to get paid and to raise money for my team. So, I collect some fees and take some donations because we had a 50/50 turnouts and all that kind of stuff. And I had a little epiphany. I was trying to also get the guys out to practice and I was sending out emails. Nobody was showing up, but I started a Facebook group and posted the date, time of practice and I had a 100 percent attendance. The first time I did that, and a light bulb went on and said Hey can I get them to pay their fee like that. And FundRazr was born. So, it really was all about trying to scratch my own itch and in the early days as we developed the idea of paying the fees really didn't take off very well. But the idea of collecting donations went nuts and that's what we built the company around.

Manseeb Khan: Awesome. So, could you still sticking on the early days I know on our call before we  even started the episode you compare like the early days of crowdfunding and how it's very parallel to now the early days of crypto and Block chain. Could you just go a little bit more detailed about that?

Daryl Hatton: Oh, for sure yeah. I mean when we started crowdfunding no one knew what to call it. And I even had the opportunity to buy crowdfunding dot.com as a domain name and was given some advice by a bunch of people in the industry going I never nobody ever wanted to call it that. Yeah right.  Oops. So, you know the interesting things that happened at that time, but we were really struggling in the beginning to try and talk about this intersection of social media and of finance technology and of marketing technology all into one platform that becomes a crowdfunding campaign. So, we used the word crowdfunding a whole lot. And if you went to the crowdfunding conferences everyone was talking crowdfunding and to the people who were not in the industry, they would come in they hear us and they're going. What the hell are you guys talking about. Like you're not making sense. All you're doing is dropping these buzzwords all the time and one of the things that I hear going on now at crypto conferences and block chain and the whole area of the new innovation and fintech around this is the same thing. There's a ton of terminology. Ask an entrepreneur what they do. And they'll have you know they'll talk about how they've got this unique twist on what they do with block chain to do Dut, Da Dut, Da. One of the lessons we learned from the crowdfunding world is can you explain what you do without ever using your buzzword. Can you explain the value of your business to somebody and have them get it? Why it's important. And why you're going to win without ever using the words. So, for any crowdfunding or any sorry crypto or block chain entrepreneur right now can you tell me why your business will be successful without ever using the words crypto or block chain or any of the terminology around it. What's the business value that you're delivering to the customer. And why is that really important. It may be a technical function that you're delivering but there's a business reason and they're not just a technology reason. And the companies that win are the ones that figure out how to communicate that business reason and build the technology to solve it. Big learning what we had over that time is just you know kind of buzzwords are cool and let make you feel like you're in the crowd but stop it. Start talking about your business and the value and the customers may see a little bit more boring. But it's got a way better higher chance of success.

Manseeb Khan: No, I absolutely agree with you. And I guess I mean like you took a misstep and you said crowdfunding. I think crowdfunding is still in that same conversation. Now you want to be able to kind of give the elevator pitch with like your industry jargon. Right. You want to be able to like to go to like roll up to any random person at Starbucks and kind of like hey this is actually my business does sound like a good idea right.

Daryl Hatton: Yeah. And you know it's easy to stumble into. I mean as I just did it you know it's a shortcut for us to try and take a set of concepts that we have in our head and communicate more easily to other people who also have similar concepts. And it’s just good practice to try and do it without that. Yeah. Absolutely. It's  kind of fun once you get into it because you get to laugh at yourself a lot. Keep taking a shortcut.

Manseeb Khan: Yeah. I can absolutely see that see that. So, you guys focus on an enterprise crowdfunding could you just explain a little bit like why is that different than the Kickstarter's and the Indigo's goes out there.

Daryl Hatton: Well yeah it might help to kind of hear the path we've got to with that. And so, let me give you a little bit of background. When we started our crowdfunding platform, we were all about personal funding. Helping people raise money because they had cancer, they had a tragedy, they had a car accident something happened in their lives and they needed emergency funds. And the best way to do that was to talk to the friends and family and get them to the money to help because those are the people, we're most invested in helping you. And it worked, it saved babies and it helped people recover from car accidents and then help people deal with medical bills especially in the United States and along the way. You know we one of the ways we had to communicate was to use Facebook to share and as we were doing that some non-profits came along, and they said you know we love this kind of toolset but it's kind of weird to use it as a person. So, could we use it under the name of our organization. So, we start. Or the name of our charity. So, we added features in to make it so that you could do a personal campaign or charitable campaign. And that ended up you know giving us a whole new set of requirements but a whole new set of customers. And then Kickstarter the time was doing a good job and Indiegogo was starting to do more in funding of entrepreneurial style projects or creative projects. And we ended up getting asked hey can we find our project with you because you guys seem to be really good at social sharing. So now we've got three constituent groups of customers personal, nonprofit and now entrepreneurial or creative and over the period of time as we built out all the features for all of those it started to become what we call an enterprise crowdfunding platform. And the reason for that is that we're solving a lot of the problems for those customers at a much more deep level about things like team` communications around running your crowdfunding campaign. Can you have a lot of people on your team both as managers. Which is pretty easy for most apps to think about but then also as things like promoters. Can you hire somebody on to the team whose job it is to go in and promote you to influencers in the industry and track the results and help figure out whether or not they're helping you raise money for your campaign. So, we call it an enterprise crowdfunding platform right now because the basics of what a crowdfunding campaign are have morphed into. In our case over 10 different ways to do campaigns and some of them are very charitable focused. Some of them are very personal focused and some of them are very much a business focus.

Manseeb Khan: I LOVE THAT! I kind of want you to tell the story that you told me over the phone of that father reaching out to you about as a little girl and like how the example that you use like some people create a business to create a business. Some people kind of fall into the business. Can you can you tell that story a little because I loved it so much.

Daryl Hatton: Yeah. You know one of the things people look at us with FundRazr and there is we've got the different brands we'll talk about this a little bit as well is that there's different ways to do crowdfunding. And when people look at our technology, they get confused by it. So, we actually give it different brand names to help separate the customers apart from each other. Funny enough. But the story that you're referring to when we first launched in it, we kind of have to do a relaunch of the platform in July of 2010 after surviving a near-death experience with Facebook kicking the chair out from underneath us and we'll talk about that maybe too. But basically. So, when we started the campaign and we're focused on these personal donations and my goal in starting this was to build a business. I wasn't trying to go save the world. I wasn't trying to raise money for charitable causes and that was because it was a good thing to do for the planet. I was trying to build a business and we were really struggling. Trying to help ourselves understand why customers were using this and what they were really trying to do. And it feels now like we were just so totally naive about what was going on. But so, we launched in July of 2010 and we're going along we're watching this incredible growth happening. All these people are using these campaigns and we're really focused on how we help them raise more money but not really thinking about why they're raising more money. And then we got a Christmas card, the Christmas card was from a family that had been living off the grid in Hawaii. I think there was maybe people living on the beach kind of thing. He got out of the U.S. military they'd hooked up as a couple they'd had a little girl and you know so they didn't have. They were kind of dropped out a little bit to the system. I think they didn't have health insurance that kind of thing. And they discovered that their little girl had been diagnosed with childhood leukemia. So, in the race to try and figure out how to save her again no health insurance in the US there for that. They found out that the military hospital in San Diego would take her because he'd been in the military, but they had to get the girl there A.S.A.P. because childhood leukemia is a very fast-moving disease. So, they put up a campaign or a FundRazr and they raised that I think it was thirty-five hundred dollars. They needed to get the flights. Like you know right now and given the low accommodation when they hit San Diego and they took a couple of days and they got her there and when they got her there the doctor said if you hadn't got her here today or tomorrow, she probably would have died. And so, they sent us a thank you card saying thanks for helping save our daughter's life. We didn't I mean that just smacked us hard. We had no idea that really that was kind of an end result if you will. The business value of what we delivered wasn't raising money. It was helping save somebody's life or helping save a puppy dog or helping someone recover from an accident. Those are the things the real value we're delivering it wasn't collecting money in a social environment. And so that epiphany just really changed how we looked at the business. And you know we still are a profit-making business, really low on the profit side because we're trying to scale it and it's a harder market than people might think. But it is you know there is that nice benefit that we actually have this big business value. That's a very personal value in a very charitable value in the background and that's a fantastic way to come to work every morning and think about what you do for the day is you help people save probably dogs and little girls.

Manseeb Khan: Yeah, I mean that's probably the best customer testimonial I've probably ever heard possibly ever if not in a very long time. You did briefly before you jumped in the store you talked about how you broke down your business in to different kind of brands could you talk a little bit more about that and how that ties it to you guys scaling because like you said you guys are not as quote unquote profitable because you're trying to scale. Could you talk a little bit more of the challenges scaling and being a crowdfunding service?

Daryl Hatton: Started connection point and we knew that. I don't know. I just had this hunch that the technology that we were going to build would have more than one use case in the marketplace because really,  it's a marketing system. And so what kind of problem are you trying to solve with it as a marketing system was a personal? Was it corporate? Was it charitable? So we started a FundRazr with the idea that it was the general-purpose platform for crowdfunding using a donations or a rewards type model. So, donations model being your traditional charitable thing. GoFundMe is a good example of that. The rewards model is the Kickstarter or Indiegogo model where you're doing an all or nothing campaign and you're giving the donor some reward back. So that was really it took the majority of our focus and energy and as a result we tended to lump more customers into that pile than we may should have because you know it was just more convenient just as kind of keep them focused on the one brand for a while. But over the last couple of years we've really noticed that a couple of different use cases are showing up that are worth separating them out from the main stream. So, it's all the same technology with a different skin on it and sometimes a little bit of a tweak to the feature set an example that is one of our brands we call CoCoPay. CoCoPay stands for collaborative community payments and it's designed to be used by businesses to allow or enable their customers to use crowdfunding to help them finance the purchase of the product or service. That's a big one mouthful but if you imagine I don't know if you remember. I don't know if we had this chat but there's the company in the States called in Enchroma and they do glasses that you can put on and if you're colorblind it'll help show you colors for about 80 percent of the people who are colorblind that put them on. It's really emotional to not have seen color. And now to see it. I mean this world is full of color, but the glasses are you know mildly expensive there between if you do it right, you're probably going to get two pairs of them they're going to be between five hundred  to one thousand dollars and some people can't afford that. So if you go to the Enchroma web site there's a spot on their site where you can use our technology to start a crowdfunding campaign that will with a  Enchroma branding tell the story using  Enchroma glasses and help you communicate that to your friends and family and co-workers and others in your social network and help you buy the glasses. Now it might be for you but one of the most common use cases is to buy them as a gift for somebody else. So, a classroom we'll get together buy them for their teacher and then or someone will buy them for a military vet they had that happen. Not quite sure how they got there with colored blind, but they did. So that was really cool. And then you know they'll buy them for Grandpa because Grandpa has never had it always took care of the kids, got them go to college, got the grandkids going  never really took the time to figure it out for himself or was it didn't have anything available. So, the family gets together buys Grandpa glasses that let him see color for the first time and the incredible folks tell you how to do it right to capture your YouTube moment. They say take a whole bunch of colorful balloons and take him outside somewhere and don't tell him what it's all about it just ask them to put all these cool looking sunglasses and they look cool stylish glasses and usually what happens is the glasses go on the glasses come off. The glasses go on glasses come off and whoever it is crying. And they because you know it's that it's a super emotionally, I get it and there's some guys that have just gone off on the oh god, Oh my God they're so funny. But the point is that by allowing the community to work together to buy something it may not seem like it's big a use case. But if you get into a lot of medical devices that are maybe ten thousand dollars because you need special Walker you need something that gives someone mobility. They may not be able to afford it right away but their friends and their family and their social networks would go let's fix that for them. Their good person we'll fix that for them and CoCoPay lets them you know safely raise the money and pay it to the company as opposed to paying it into the individual so that you don't have to worry about fraud and it's all or nothing so that if you don't raise enough money nobody's out you know you don't get halfway towards buying one of these things and now what do you do with all the money and refund it to everybody and take a few gets the payment companies you know you're kind of in a net loss for trying to do something good. So, it takes all the best of the crowdfunding technologies of all or nothing social sharing teamwork collaboration in our case you know branding of the company and puts it all together in a package that somebody can use to crowd finance a purchase. Is some idea of where it's the same technology? But if we're going to sell it to a company, they don't want to come to our Web site and see that we're raising, we're saving puppy dogs and little girls they're going how does this affect our business. Why am I doing that? And so, there's a dedicated site to CoCoPay to talk about its business value. But ninety-nine-point eight percent of the technology is the same as FundRazr.

Manseeb Khan: Mm hmm. I mean this does bleed into I guess my next question of corporate good right and how you're seeing. You've mentioned that in the phone call we have that how corporations are now not for the sake of oh hey we're going to go and plant trees just for the sake of planting trees. Now we're going to go and pick an issue that our customers or clients are very passionate about and then try to spearhead it and like the best example I can think of would be when Adidas and Nike decided to take all like ocean pollution plastic and remake it into sneakers because ocean pollution was something that both companies audiences were very passionate about. So, they created a sneaker behind it and that started this whole renewable shoe movement. Right. So why is or how is corporate got like corporate good better or better than the government initiatives that are going on or the charity initiatives or it is, or should we see it as more as like a tag on.

Daryl Hatton: One of the things I didn't say in the beginning. If you actually look at mission of what we have with Connection Point we're trying to well, we are We're reimagining philanthropy. And one of the reasons that we want to do that is that the hypothesis is that we can get causes, corporations and consumers to all work together to solve world funding problems because that everyone can have a win in that and the collective group of all of them also gets a win. So, for example you know you said it very well that consumers are now wanting to have their companies do more than just supply them the product. You know in the case  of the shoe companies they saw an opportunity to not only sell shoes but to solve an environmental problem at the same time. And they knew through research that their consumers would really like that. That's got a kind of a social impact space. You talk about multiple bottom lines you know the bottom line I get a great pair of shoes from a brand that I love the story behind the shoes is fascinating and fantastic. You know these used to be junk in the ocean and they've turned it into look at these things these are amazing. And that at the same time that's reducing pollution in the ocean. So, the consumer there is driving that behavior because they are demanding more from their partners and the partners are interested in doing this because it builds loyalty with their customers. Their ability to go in and use the best things of what corporations can do which is communication at massive scale and the ability to actually execute on programs to change social problems and in some cases though they need to have something like a charity partner actually do some of that work for them especially when it gets into softer skills. So if you've got a company that's not about saving plastic but maybe helping with mental health or maybe helping with child poverty or food distribution or food  safety quality for lower income families all sorts of things like that the corporation might want a partner with a charity for the charity deliver the work in the field but then be able to use the fact that they're supporting that charity as a story for their consumers saying hey you know we all care about this together. Why don't you buy our products? We work with this company and there's a trading of value that goes on in that system where they get money to the charity to do the work the consumer feels great because they know this charity is doing the work. And they may end up establishing a better relationship with the charity and they're more loyal to the company for buying that product. So, it I think it's one of the changes we're going to see in society in the next few years. Is this is going to become the standard way to do it. Because it takes advantage of the strengths of all three parties and we built a product around that that we call Sponsifi and Sponsifi designed to do the place where the company can even make an offer of to the donors or the contributors on how they might want to further support the cause. So again, getting that branding out there that says we're supporting this cause and helping the company get better value for the money that they can spend on it and a more measure of resolve. So that was a lot of words in there, but you know if you can take out the idea that basically cost corporation consumers are going to work together because they already are. We just want to make it easier to do and less expensive for the companies particularly. And I think we're going to see something else transform society.

Manseeb Khan: Yes. No absolutely that's kind of what crowdfunding is what one of the missions of crowdfunding is  to make the world make it a better place right. If it's be that you're saving a little girl or you're saving a little puppy or cleaning the oceans right like though the of the whole part is especially with I mean millennials like me. We love to see that like corporations’ charities governments are taking more of an initiative to actually go after these social causes because these social causes are so near and dear to our heart. And now that companies are kind of using that  maybe some  could be as a marketing ploy some could because they actually truly believe in the said cause it's. Yeah. Crowdfunding. It's going to be very exciting in the years to come. So, with that what is the future of crowdfunding look like. And essentially what are you excited about in the space right. Are you excited that maybe in the future you might have like this block chain integration? I excited that you can start tokenization a lot of donations?

Daryl Hatton: There's lots in there. Let's just before we go there let's think about one thing around. You know I talked a lot about causes and what's going on there and a lot of entrepreneurs that might be listening to this are going here. But what has that applied to me. I don't know I'm just trying to startup and I want to get this product out there and I'm having trouble with funding it. So, one of the benefits of crowdfunding in here is also the fact that because it enables communities to work together to solve a funding problem that's basically the bottom line and what it does. Let's not worry about whether it's charitable or corporate or whatever but if we all can work together and help us work together on that. One of the side effect benefits of this is that businesses that need not have been able to start before because of lack of capital can take a community of interested customers/prospects and we'll be customers and use the model to help them preorder enough product that they can go through the R&D phase the initial production run and get the product into the hands of consumers who really want it. That's a social benefit because now we have a company that was created out of thin air literally and it's providing income and it's providing satisfaction to consumers and it's providing opportunity for people that live out some of their dreams and maybe change the world because they've got a better widget in some form. It's more efficient it's more friendly it's easier to use, it goes faster whatever the real benefit in there is those things are helping our society as well. And a lot of the entrepreneurs that are starting up campaigns right now are small companies are realizing that they have to have that kind of social responsibility aspect baked into their company for two reasons one to attract their customers. And I think this is actually way more important doesn't get enough press to attract their employees. If you want to work for nameless soulless company, you know big office tower why I am here every day. This sucks you know I don't enjoy my work I don't really feel like I'm making an impact or by the way we work for the company we're really clear the part of what we do is to help with this social problem or you know 10 percent of the proceeds of the profits from our company go to support the producers families who are helping us build this neat new eco backpack you know I don't know make up a story there but basically that feeling of going to work and having purpose which we discovered by accident is one of the key motivators for digital natives, millennials and gen Z to want to go to work and they will work really a ton of harder and put more of their life into their work when they feel like that work has got an impact on the planet. So, you can use crowdfunding as a way to help fund the idea. And for all entrepreneurs that are looking to start up a business there. It's a great way to get revenue into your company without having to give up ownership you know equity and securities. Crowdfunding is great but you are giving up. It's the most expensive money you'll ever get because it costs you a big chunk of your company in the future. But sometimes that's all you can do. So, you do it. But if you can fund it with some of these others and have that social tie in you can not only launch your product but build a company where people want to work and where you can have some real satisfaction to work home at the end of the day. So, I think there's a lot in there and that's one of the things I'm very excited about. You know that's part of future is now because it's just not evenly distributed. Well who is it. Who said that the future is has arrived it's not just evenly spread out? We can do that now and then to answer your question about some of the other technology you know what I think of crypto and block chain and much of that industry about is how we make things more transparent and make it easy for us to see kind of our thread that ties through the financial story of the organization.  So, in the charitable world we look at this and say if you made a contribution to a cause to build wells in Africa. Which well in Africa did my money go to build in crypto being mechanism for kind of tracking where the value is with block chain being where did it deploy. What's the ledger of it seems like it's going to be a very interesting topic because when people make a donation they really want to know what good they did? And I can see some technology in there helping make that happen at the moment it's a bit of a geeky love because consumers aren't necessarily demanding that level of transparency, but it could be really cool once we have it because then they might start demanding it more once they know they can get it. So, I think there's lots of things will happen in our financial world because of this distributed ledger capability.

Manseeb Khan: And I think you'd like to harp on more of the transparency aspect. At some point I think people would be pretty excited to see that like oh hey I like that little girl that I donated 30 bucks to. You can kind of track it like how you track like your orders on Amazon right. At some point we'll probably get to like that level of transparency. really. Oh cool. They actually hit this goal or the next milestones that's like that's something to kind of look forward to and it's like it's maybe not gamifying it but like it's you know it just like fueling the fire of  doing good.

Daryl Hatton:  Your right on with that we actually do that now in FundRazr. We have a concept called micro project and we've been leading the industry and trying to talk about this transition from don't fund. I'll give me a really concrete example of this.

Manseeb Khan: No please do!

Manseeb Khan: There's a cause called One Girl Can that helps girls in Eastern Africa get an education because the founders of this cause were very successful in business and  the couple he continued to run the business and she decided to run her foundation on the side of it and the foundation was about helping these girls get an education because they knew that the change in the quality of the life for them and even more so for the members of their community was so huge. So, what they were doing is they're building schools in Eastern Africa. And last year we said to them you know that's a major project to build the school. What if we broke it down into a whole series of micro projects? Let's talk about each of the girls that needs to go through these schools and what would be their life like if they were able to go. What are their hopes and dreams and aspirations and let's get people to fund them individually because in aggregate you're going to get enough money to do your funding for the school? And so, we call that micro projects dividing a major project down into the hundreds or thousands of small little projects and our technology is designed to make that really efficient. But now the interesting thing the stories that can come out of this imagine that you know you sign up to help  Purdy one of the girls and she wants to be an engineer because we know that you signed up to fund just Purdy. We can send you updates on what's happening with just Purdy and her journey going through school. So, giving you that same kind of ongoing view into your social investment different you know you put in money but if you're looking for a social payback and not a financial payback. Letting you track Purdy progress we said our you know dream story here is that Purdy adds to her campaign because she's an adult she can do that a young adult but she gets out to her story saying guys I'm really nervous I'm going in for my final here. I really appreciate all the support you've given me to get to this point. M.M. You have an audience in North America around the world waited with bated breath and a little while later you get a thing going. I passed and happiness is going over North America. Because together they made a difference right. Yeah. So, it's that we're doing it now without having to have that level of transparency in the block chain you know to do that but maybe block chain help make it a little bit more precise a little more guaranteed.  That you know what really happened. Somebody just didn't read a verdict. You know the janitor there you want to know that you actually get the good work. Yeah. It brings up other stuff like how do we find overhead? But that a different problem to solve.

Manseeb Khan:  I love the fact that how. Like your example really solidifies the. It takes a village to raise a child. You're going to like hopefully in the future you're going to see like actual like villages or like  digital villages helping raise children like in Africa or like Syria or when they have you only got like following that story it's kind of like its kind of like a vlog.

Daryl Hatton: So, it's well you know I think one of the other projects we're looking at is to fund portable solar powered charging stations in for villages in Africa. And would people be willing to donate to help make that happen if they can hear the stories of the villagers lives that have been transformed. Because when they have power they can study. The kids in the village and study at night without having to burn kerosene in their homes which is so hard on their health and is expensive. So, if they could end up having light that will let them on their laptop or their phone or their board the tablet, they're starting to get some technology but they don't even have power yet. Giving them a way to have power, would consumers around the world be willing to support some of that and in you know in exchange for the stories that are going to come out of that village and the impact it's going to create. And if you take a kind of an interesting view of philanthropy as a form of entertainment it's a discretionary spend like it's we just choose to spend it. But some people are willing to spend small amounts of money to see that that result happen more than wanting to go to a movie or wanted to go up for you know a lot of people say hey I'll give up a cup of coffee discretionary spend element  every day for a month just to make sure Purdy gets through example right. That's philanthropy as entertainment. And I think that's one area we're heading to as well.

Manseeb Khan: I love it. Philanthropy is entertainment. I can.

Daryl Hatton: We're reimagining philanthropy. We've got to do that. You know you have basically all of this it is brain chemicals where you're buying endorphins and oxytocin when you make a contribution. That's how warm lovely feeling you get when you feel like you've helped somebody is oxytocin. It's the brain hormone and funnily enough it you know if you give lots of little gifts you get way more of it than if you give one big gift. So, in some ways I mean we're brain drug pushers. We're trying to get you hooked on philanthropy and crowdfunding is your gateway drug. So just be careful.

Manseeb Khan: I'm definitely using on the podcast description of crowdfunding is your gateway drug to philanthropy.

Daryl Hatton: Philanthropy is entertainment. God this story is writing itself right.

Manseeb Khan: Oh yeah. It really is. It really it really is. So too.

Manseeb Khan: I mean hey do you have any additional things you want to throw in like any anything that the audience should be aware of either. Things that you guys are doing at your company or thing other things that are going on in the crowdfunding space.

Daryl Hatton: I think one of the things that I would love more entrepreneurs to know in this is that if we're in the crowdfunding world together you know I talked a lot about how it takes community and I think first startup community in especially in FinTech space and others it is really important for us to think about how we help each other as opposed to how we're just always in competitive mode or selfish mode because it's amazing the amount of help that we've had on the way and the amount of help that now I can help muster for other startup companies. I'm currently advising 20 different startups and you know I've got a nice network that I've built up over the years that they can count on to help them. This working together thing which we learn through doing our crowdfunding business is one of the keys to actually making your business successful. And I really encourage a lot of the entrepreneurs to think about that that when they're thinking about how they ask for help. Also ask how they can help, and it changes the conversation dramatically. And you know you get much better results much faster.

Manseeb Khan: So, to wrap this up will be the best way for the audience to either contact you personally and or Connection Point. Do we snap you? Do we tweet you? do we e-mail you? Smoke signal? What we'll be the best way to contact you guys?

Daryl Hatton: Best way to hit me find me on LinkedIn. Daryl Hatton mention the show or else I might ignore you because so many sales guy is trying to hit me up that way and you can FundRazr.com.

Manseeb Khan: Awesome Darryl. Thank you so much for sitting down today. I mean and thank you for opening our minds to crowdfunding and making the world a much better place.

Daryl Hatton: Thanks for having me talk soon.

Outro : you've been listening to fintech Fridays brought to you by NCFA and partners. Tune in weekly for the latest fintech Friday podcast by subscribing to this channel. The National crowdfunding and FinTech Association of Canada is a non-profit actively engaged with social and investment fintech sectors around the globe and provide education research industry stewardship services and networking opportunities to thousands of members and subscribers. For more information please visit and see if a Canada dot org. Oh yea.

 

End of Podcast

 

Subscribe & Listen to more Fintech Fridays podcasts: Season 1 | Season 2

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!

Interested in getting involved as a partner or participant? 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

Ryan Aceman, special to BNN Bloomberg | March 15, 2019 #FFCON19 is set to showcase the importance of being fearless to succeed in Fintech 12 cutting-edge companies will compete in a ground-breaking pitch competition  Key emerging trends from tech and investment realms will be highlighted Where finance and technology meet, lies one of the most fascinating sectors of the modern world. From its inception, the financial technology (Fintech) space has been built on inventive thinking and unconventional concepts. This crucial intersection has the power to transform global banking, investing, and many other sectors that people and businesses interact with on a daily basis. "The Canadian Fintech industry is leading the way in revolutionizing financial services and events such as FFCON19 to help create a strong ecosystem that cultivates innovation and growth.  Excited to be a part of it!" — Dr. Dan Rosen, CEO of d1g1t.com From April 3rd–4th in Toronto, Ontario, FFCON2019: Fearless will aim to embody this innovative essence, hosting a variety of influential thought leaders, industry experts, and 750 attendees. The event will function as a comprehensive and daring expo showcasing innovators and disrupters that are having significant impacts within Fintech. Attendees will learn vital content delivered from ...
Read More
Canada’s leading Fintech and financing conference
Chainbits | Nathan Rodriguez | March 14, 2019 After the ongoing saga of Canada’s largest cryptocurrency exchange QuadrigaCX’s downfall, another Canadian cryptocurrency company is now coming under scrutiny. Canada Bitcoin Exchange Inc. is now being investigated as a possible scam. Warning Against Canada Bitcoin Exchange The British Columbia Securities Commission (BCSC), a Canadian financial regulator, has issued a warning against Canada Bitcoin Exchange. The watchdog stated that the company was offering overly attractive BTC (Bitcoin) investment plans to its customers. Canada Bitcoin Exchange was offering 4 different BTC investment plans on its website. Each of the programs asked users to invest a certain amount of capital for a period of 24 to 48 hours. In return, the company offered returns that started at 3.586% and went as high as 7.985%. The website stated that Canada Bitcoin Exchange would reinvest customers’ BTC in other stocks as well as cryptocurrencies. The company claimed to have a team of professional market analysts in place who knew how to find hot stocks. The company also stated that this project was run by the Canada Bitcoin Exchange Group. Signs of a Scam Upon investigating the company, the BCSC found that Canada Bitcoin Exchange was an ...
Read More
Another Canadian Crypto Exchange Under Fire
Dr Dan Rosen is a FinTech Entrepreneur and Quant. He is currently the Chief Executive Officer of d1g1t Inc., a new digital wealth management platform, powered by analytics, that offers advanced transparent portfolio management services to advisors and their individual investors. He is an Adjunct Professor of Mathematical Finance at the University of Toronto and was the first Director of the Centre for Financial Industries at the Fields Institute for Research in Mathematical Sciences. Dr Rosen was the co-founder and CEO R2 Financial Technologies, acquired by S&P Capital IQ in 2012, and where he was Managing Director for Risk and Analytics until 2015. Prior to starting R2 in 2006, Dr Rosen had a successful career over a decade at Algorithmics Inc., where he led financial engineering and research, strategy, products and marketing. In addition to working with numerous financial institutions around the world, he lectures extensively on financial engineering, portfolio management, enterprise risk and capital management, credit and market risk, valuation of derivatives and structured finance. He has authored numerous risk management and financial engineering publications, including two books, and several patents, and serves in the editorial board of various industrial and academic journals. Dr Rosen was inducted in 2010 ...
Read More
Meet FFCON19 Featured Keynote Speaker: Dr. Dan Rosen
NCFA | FFCON19 Team | March 14, 2019 Want some credit for being in Fintech? Things are tough out there for some parts of Fintech. If you are part of the ICO, blockchain economy for example, they tell you it’s winter. Those bear markets are tough. It’s like Rodney Dangerfield used to say: No respect. You just wish you could get some credit for your hard work and your groundbreaking innovation... I’ve got some good news for you. FFCON19: FEARLESS has partnered with a company that wants to give you the credit you deserve. Well, $10 bucks worth on your next ride with our friends at Lyft. (No taxi for you!) But only if you register and join us on April 3-4 in downtown Toronto. FFCON19 is a fintech focused conference and expo with several special guests, an amazing lineup of speakers, many well known investors and investment opportunities galore through a pitching competition. And guess what? You can still get a discounted ticket. But you only have 2, that’s right, TWO days left. This deal disappears on March 15, 2019. So if you would like Lyft to give you a little fintech credit while networking, pitching, speaking, connecting and ...
Read More
Want some credit for being in Fintech?
CSA | March 14, 2019 Toronto – The Canadian Securities Administrators (CSA) and Investment Industry Regulatory Organization of Canada (IIROC) today published Joint Canadian Securities Administrators/Investment Industry Regulatory Organization of Canada Consultation Paper 21-402 Proposed Framework for Crypto-Asset Trading Platforms. The consultation paper seeks input from the fintech community, market participants, investors and other stakeholders on how regulatory requirements may be tailored for crypto-asset trading platforms (platforms) operating in Canada. “This consultation outlines a proposed regulatory framework that provides clarity for platforms, greater market integrity and protection for investors,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Platforms have told us that a tailored regulatory framework is welcome as they seek to build consumer confidence and expand their businesses across Canada and globally.” “The emergence of digital and crypto assets continues to be a growing area of interest for regulators, investors and marketplaces – and, together, securities regulators are taking steps to deepen our understanding of this area,” added Andrew J. Kriegler, President and CEO, IIROC. “We must adapt to innovation, and provide clarity to the market about how regulatory requirements might best be tailored and applied to these unique business models, while ...
Read More
Canadian securities regulators consult on regulatory framework for crypto-asset trading platforms
Polymath / KABN release | March 11, 2019 TORONTO & SAINT MICHAEL, Barbados & GIBRALTAR--(BUSINESS WIRE)--Polymath (www.polymath.network), the global leader in software solutions that enable assets to be digitized, distributed, fractionally owned, and ultimately liquidated, has formed a consortium in close collaboration with KABN (www.kabn.network), a global financial services platform that has developed, among its suite of products, a patent pending, blockchain based, GDPR compliant, Always On, global identification and accreditation as a support service for investors and other types of contributors. Polymath is leading the effort to make it easier for organizations to create digital securities from traditional assets through partnerships and a community that supports a transparent and compliant process for issuers and investors. Through its extensive service provider network with firms like KABN, Polymath provides security token issuers with access to top quality service providers. “Our solution supports the creation of digital securities from a wide range of traditional and non-traditional assets,” said Kevin North, CEO of Polymath. “The intention of this partnership is to create a best practice model for customers who need help with the full lifecycle of an STO (Security Token Offering). In this model, the issuer would work with an integrated network of ...
Read More
Polymath and KABN Announce Consortium to Accelerate the Creation, Distribution, and Management of Digital Securities Across Multiple Jurisdictions and Platforms
NCFA Canada | Burden Reduction Committee | March 1, 2019 Executive Summary In response to the Ontario Securities Commission’s (OSC’s) January 14, 2019 request for comments, this submission responds to the eight questions set out in the OSC’s Staff Notice 11-784. This submission draws heavily on, and also updates, the Association’s earlier submission to the OSC dated August 24, 2017 (see Appendix), which primarily focused on the crowdfunding requirements in Ontario. The National Crowdfunding and Fintech Association of Canada (the Association) represents over 2,000 fintech SMEs and individual members that support financial and capital market innovation, small businesses and technology. We are pleased that the Ontario government is undertaking this important regulatory burden reduction initiative to the benefit of all Ontarians. The Association has consulted a number of diverse crowdfunding and fintech stakeholders – including exempt market dealers, industry experts, securities lawyers, regulators and government agencies and is proposing several recommendations to reduce unjustifiable burdens placed on Ontario’s businesses. The Association recommends that the province undertake the following: The OSC conduct a review and publish a report evaluating the effectiveness of Ontario’s crowdfunding regulations (45-108) compared to other jurisdictions in Canada and international competitors such as the UK, US and ...
Read More
March 1, 2019:  NCFA Submission to the Ontario Securities Commission on Regulatory Burden
NCFA Canada | Mar 8, 2019 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep28-Mar 8:  Rethinking Brokers with Muhammad Rashid About this episode:   On this episode of the Fintech Friday's Podcast, our host Manseeb Khan sits down with Muhammad Rashid the CEO of Moregidge. They chatted about how to find a broker that will work for you, how they are revolutionizing the mortgage space and their plans for the future. - Enjoy! HOST:  Manseeb Khan, Fintech Friday's show host GUEST:  MUHAMMAD RASHID, Co-Founder and CEO, Moregidge (Linkedin) BIO:  Muhammad started his career at Flipp, a Toronto-based startup helping retailers digitize traditional circulars and re-imagine the weekly shopping experience. He built and scaled the operations team from 10 people to over 300 across 4 countries. He was also instrumental in developing user retention and retailer ROI strategies through content acquisition and promoting added utility within the mobile app. From there, Muhammad joined Sampler, working alongside manufacturers to distribute targeted, measurable samples directly to consumers. He lead the strategy and expansion of their logistics network into international countries including the UK, France, Italy and Germany. Muhammad is now the Co-Founder and CEO of Moregidge, focusing on reinventing the home-buying experience. Subscribe ...
Read More
Ep28-Mar 8:  Rethinking Brokers with Muhammad Rashid
FrontFundr | March 7,2019 On the 108th anniversary of International Women’s Day, FrontFundr, Canada’s number one investment crowdfunding site has commissioned a survey to understand gender parity in personal finance for women, and the results aren’t good. Only 12% of Canadian women aged 25 - 65 feel that they, personally have Financial Equality, where wealth is distributed equally. 29% of women in the same survey felt they had Financial Independence. Financial independence is not only a source of confidence but also gives women the credibility to participate in important matters of decision making, for themselves and their families. 45% of women surveyed believed personally they had none of Financial Equality, Financial Independence, a plan for retirement or enough savings for retirement. Women manage $2.2 trillion of financial assets in Canada CIBC undertook their Women and Wealth study in November 2018, which highlighted the financial assets that women control. They found41% of women (single, divorced, widows, and women responsible for investment decisions) control no less than $2.2 trillion of financial assets. And that number is expected to rise quickly, as the cohort of women with stronger labour incomes and retirees grows. CIBC estimates that by 2028, women will control just under $3.8 trillion ...
Read More
Six steps to achieve financial gender parity this #IWD
FCA | March 8, 2019 The Financial Conduct Authority (FCA) has today published two pieces of research looking at UK consumer attitudes to cryptoassets, such as Bitcoin or Ether. The research includes qualitative interviews with UK consumers and a national survey. The qualitative research indicated some potential harm, including that many consumers may not fully understand what they are purchasing. For example, several of those interviewed talked of wanting to buy a ‘whole’ coin, suggesting they did not realise they could buy part of a cryptoasset. Despite this lack of understanding, the cryptoasset owners interviewed were often looking for ways to ‘get rich quick’, citing friends, acquaintances and social media influencers as key motivations for buying cryptoassets. See:  SEC wants big data tools for monitoring and enforcing cryptocurrency market compliance Both the survey and qualitative research found that some cryptoasset owners made their purchases without completing any research beforehand. However, despite the general poor understanding of cryptoassets amongst UK consumers, findings from the survey suggest that currently the overall scale of harm may not be as high as previously thought. 73% of UK consumers surveyed don’t know what a 'cryptocurrency' is or are unable to define it – those most aware ...
Read More
FCA reveals findings from first cryptoassets consumer research

 

Share

FINTECH FRIDAY$ (EP.22-Jan 25): Reducing Regulatory Burden by 25% in Ontario – Amar Nijjar of R2 Capital & Investments

Share

NCFA Canada | Jan 25, 2019

Ep22-Jan 25:  Reducing Regulatory Burden by 25% in Ontario

About this episode:  On this episode of the Fintech Friday's Podcast, our Manseeb Khan sits down with Amar Nijjar the CEO of R2 investments. They chat about how R2 is helping innovate the real estate space, the Ontario's Securities commission hitting their 25% burden reduction goal, and Canada becoming a force to be reckoned with. Enjoy!

  • The complexities of Canada's regulatory burdens are preventing us from becoming a global player
  • All innovative entrepreneurs in the fintech sector should be getting behind the burden reduction initiative
  • Commercial real estate is a good asset class and now open to regular investors

Host: Manseeb Khan, NCFA, Fintech Fridays show host

Guest: Amar Nijjar, President & CEO, R2 Capital and Investments

Bio: Amar is the Founder of R2 Capital and Investments - Canada’s First National Online Marketplace for direct investing into commercial properties. Under his leadership, R2 has to grown to 25 employees and in 2017 transacted on $207MM of Debt & Equity capital. R2 has funded several projects diversified by property type as well as location. Amar has funded over $10 billion and underwritten over $30 billion of real estate during his career. Prior to starting Amar was Practice Leader and Executive Vice President at JLL's (Jones Lang LaSalle), Debt Capital Markets group. R2 continues to add talent to it’s fast growing operations and is looking for leaders of tommorow. Amar holds an MBA from Schulick School of Business at York University and an undergraduate degree in chemical engineering.


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

Listen to more Fintech Fridays podcasts: Season 1 | Season 2


Transcription of Interview

Intro: Welcome fintech Friday's a weekly podcast brought to you by the National Crowdfunding and Fintech Association of Canada and partners.Covering all things fintech block chain be AI and alternative finance.

Manseeb Khan:  Hey everybody Manseeb Khan here and thank you for tuning into another episode of Fintech Fridays. Just before we get started in this episode, I just want to do a little bit of housekeeping here. I just want to announce that we're super excited here at the NCFA to be launching the 5th Annual 2019 fintech financing Conference and Expo better known as FFCON19 which is going to be happening on April 3rd to 4th in Toronto Canada. FFCON19 is an immersive two-day conference and expo featuring high growth startups, emerging technologies, regulation, game changing projects, the latest trends, deal flow and investment opportunities. This year's theme is fearless with so much global risk in the air U.S. vs. China, Canada and China, Brexit, fintech industry adoption challenges, startup funding challenges, scaling issues FFCON19 is empowering companies with everything they need to build an amazing next generation business right here in Canada taking them global to show off to the world. We're launching it this week and registration and partnership opportunity will be opening up soon so stay tuned and get involved without any further ado here's Episode 22 of the FinTech FRIDAY podcast with Amar Nijjar the CEO and founder of our R2 investments. So, Amar could you just for the audience give us a little bit more of essentially what  R2 capital is since you are the CEO and the founder.

Amar Nijjar: Sure, R2 Capital is Canada's first online marketplace a technology-based platform that connects retail and institutional high net worth investors alike into private commercial real estate deals, income producing properties, shopping centers, plazas, medical office buildings, apartments, multifamily  housing as well as higher yielding development projects. You see a lot of construction cranes all around Canada. But especially in GTA a lot of action in Victoria Vancouver. Montreal is picking up right now, so we are in for a real estate guy. I used to work with Jones Lang LaSalle head of their debt capital markets group and before that I worked with some of the best in corporate finance. So, BMO, RBC and CIBC. And then we saw technology really disrupting how capital formation happens within the commercial real estate industry and we saw enormous gaps and that's what we're here to bridge to connect ordinary investors for small amounts to buy into large commercial properties or development projects for smaller.

Manseeb Khan: That's incredible. I think that's something a lot of people can definitely get excited about. Real estate is something that everybody, every entrepreneur wants to get into. So, this is incredible.

Amar Nijjar: Yeah that's right it's fixed income and steady returns it's predictable you know money is a little bit illiquid but that's the nature of the industry. You got to buy and hold. It's not like stocks and bonds and ETF where you can get in and out. Certainly, those investments have opportunity in the portfolio of any investor, but commercial real estate is more like fixed income other than illiquidity I think it's a very good asset class to invest in.

Manseeb Khan: Yeah, I can't agree with you more. So, on top of everything else that you're doing. You are actually sitting down on the regulatory burden reduction committee and helping out regulators like the Ontario Securities Commission hit their 25 percent burden reduction goal and challenge. Could you just explain that a little bit why is this goal important? What does this all mean and essentially the role of this?

Amar Nijjar: Yeah so myself along with a few other individuals’ entrepreneurs in the industry at NCFA national crowdfunding fintech association. There's been a steering committee for burden reduction formed at that end and I put my name in the hat and this selected me for that's just all a new initiative over at NCFA and so thank you for listening to this. I think it's very important for all the entrepreneurs in the industry because securities laws obviously that protect investors but entrepreneurship especially in the fintech space that a lot of gaps and small businesses, small entrepreneurs trying to have a vision to do something bold and sticking with Canada and not going to Singapore or U.S. or UK those economies have much better opportunities. And the regulatory framework is definitely a lot more flexible. We are laggards in Canada no doubt about that especially in Ontario. But what's really exciting right now is to the extent Ford government has really taken taking the bull by the horns, red tape reduction, burden reduction. This is exactly what we needed. So in twenty nineteen I think it's going to be an exciting year and then we're very excited we'll also see Ontario Securities Commission Chair Maureen Jenson come out with a circular notice to the industry internally and externally exclusively on burden reduction so we can talk a little bit about that too but it's a great time for entrepreneurs to get behind this because this may be sometimes a secondary party a for a lot of entrepreneurs. We're all busy hiding in that building our technology and building our businesses and hiring the best talent and keeping them and also renting the space and every little thing is you know. But you are only as good as a regulator would allow you to. So, there is absolutely no doubt in anybody's mind that should be that if they want to be in crypto, in online investments and online marketplaces technology-based sale of securities security tokens and block chain they need to get involved. They need to lobby, and they need to talk to the Minister of Finance. They need to talk to the securities regulator and get our collective voices heard because those entities are open to change and they're willing to listen. It's just we need to make an effort to make them understand what the gaps are.

Manseeb Khan: Yeah. Again, I can't agree with you more. It's important to me like you mentioned Canada's very laggard, Canada's traditionally very conservative when it comes to these kinds of changes and I mean its kind of makes sense why they want to make sure that what they're betting on it's actually right for investors. So, could you just talk a little bit more of before you. Before we touch back on what the minister and like what their new vision is. Could you just explain a little bit more of what the current regulatory framework looks like and what the key objectives are of said regulators.

Amar Nijjar: So, the current framework is extremely, extremely complicated. It is mind blowing a complicated you need a lot of legal advice which is extremely expensive and even then, the there is a disconnect between the legal industry and the law industry. The entrepreneurs what and how we are trying to build a business and the securities regulators expectations of the policy in the favorite set that are huge gaps are very wide right now and they need to be bridged. And where do we start. For example, let's talk about harmonization. So, in Canada like we have a dozen different countries, every province has their own mind on how to sell and regulate investments in securities Ontario Securities Commission is the most conservative and the biggest one at the same time too. Ontario has the most number of investors. B.C. has certainly got a role model in this regard and they've been consistently getting the best stores by CFIB. The Canadian Federation of Independent Business Small businesses out there. So, Ontario has been a laggard. It's good to see regulatory changes political changes coming. But there is so much more to be done harmonization for example that I'm talking about. Every province has their own mind in terms of how to regulate that. So online portals now are national and international in nature. There is no physical boundary, there's no paperwork. It's all digital. it's online. It's on the web. So, the gatekeeping of where an investor comes from and how they get into a deal, what amount they can invest in things of that nature get extremely complicated. So, it's like in Canada somebody is trying to run a national platform it's like you are trying to operate in like 12-15 different jurisdictions globally within the same country. So that is extremely painful for entrepreneurs.

Manseeb Khan: That yeah. Oh my God I can't even like you are explaining that it's very complicated. That's like for me a little bit of anxiety. Could you just. So, what do you see the biggest gaps being that you briefly touched on, but I guess to you what you see the biggest gaps being?

Amar Nijjar: So, for example in Ontario there is a so-called crowdfunding exemption which about three years ago was announced by the regulators and the government at the time to promote capital flow into small to midsize businesses the way investments get formalized and capital formation works. The  accredited investors and offering memorandum and some of those exemptions without getting into too much technicality essentially has a lot of burden and cost for a small and medium sized business to raise capital from the investment community. If they were to rely on some of those exemptions so they came up with this funding exemption. It doesn't work. It's been three years at least to the best of my knowledge nobody has been able to use crowdfunding exemption. It was supposed to be if you're trying to raise small amounts a million two million dollars it was supposed to make it easy for you as a business owner to tap into investment community a.k.a. crowdfunding to bring those investors into these deals without having to spend a fortune on the lawyers and the audited financial statements and a plethora of two paperwork. Ironically not one, not one. It's like blasphemous. Nobody's been able to use that exemption because the way it has been structured its just lip service. It does not work. For example, there's a marketing restriction. So, if you are running a small business and you want to raise a million bucks and you go to our portal or some of the other portals like a friend finder or a you know lending loop and some of these others. They cannot rely on this exemption in Ontario and advertise to the broader market on the Internet that we are raising. You are raising money to us through our portal to the investment community and investors can invest. There is an advertising and marketing restriction and yet on top of that there is an audited financial statement required even though you only get half a million dollars of capital. And anybody who is doing the audited financial statements knows that they can cost anywhere from twenty-five to fifty thousand dollars. So, you can imagine you're trying to raise half a million bucks and you're spending 25 to 50 thousand dollars on audited statements alone per year right. And then whatever is left you are this cost of capital raise is portal cost as well. The regulatory filings, the legal costs. I mean the model has  been put together in a way that it's completely doomed to fail from day one. And the proof is that nobody's used it. So, a lot of these things need to be rehashed and change and the industry together needs to verbalize and vocalize their pain points to make the change happen.

Manseeb Khan: How else is that impacting the industry especially to new entrepreneurs and small business in the fintech space aside from the crowdfunding.

Amar Nijjar: I mean there's a lot of excitement. People go to these conferences a lot of young people. There's tremendous amount of talent in Toronto and Ontario and Kitchener, Waterloo. I think we have a good university. We have a good work ethic. So, we have a we have a great talent pool and a lot of those millennials are interested in jumping into the entrepreneurship world. And it's very challenging. Access to capital is extremely challenging. The regulatory framework to set up your business and your company. The red tape that you have to go through is excruciatingly painful. But the worst is if you're in any business that can be perceived as in the business of selling investments or furtherance or trade you get regulated and now how you get regulated, how you get licensed and how you maintain that there's a tremendous amount of burden on smaller firms to get the answers in a timely fashion. It takes forever. There's no simplicity in the process. It's extremely complex and it can be very discouraging for a lot of small entrepreneurs. And we've seen a lot of companies either never really took off or they took off and they just failed. And there are numerous examples where in Ontario we were really pushing talent away or we are setting them up for failure because of the red tape and the burden is huge. It is hard as it is to start a business. You know the wages are very expensive the rents very expensive in Toronto and somebody is able to sustain the business organically. The regulation and the burden just to the complete killer. So, there is a huge long list of the tombstones and the graveyard of all these young entrepreneurs who wanted to start up something, but they just got caught up in all of this and that it was a failure.

Manseeb Khan: Yeah, I mean hopefully with these new regulatory changes and just hopefully  the excitement in the fintech space in and of itself hopefully allow these young entrepreneurs can kind of look past that and not like you like we mentioned before kind of go abroad and start businesses elsewhere like you mentioned in Singapore when may have you. You did briefly touch on the CFIB report. Do you have any comments based on the report that just came out?

Amar Nijjar: Yeah. So, I mean the people can Google that and read more about that. There was a financial Post article on that, but I think one of the most encouraging things are that we were consistently getting a C, C minus D rating for last several years I think over a decade. And finally, we jumped from C minus I believe last year to A minus. If my stats are right something like that. So, we made a significant jump but at least a direct result of the Ford government and you know Fideli's office trying to push down at the grassroots level to cut the red tape and reduce the burden. So, Ontario opened for business team. It's certainly going around. And what was personally very encouraging for me was that on January 14th only 10 days ago or so Ontario Securities Commission came out and they have set up an agenda, a task force to reduce the burden on smaller entrepreneurs like us by 25 percent. And this is directly the result of the governments that the government of Ontario is open for business action plan. So, I think we definitely need to give kudos to the government to helping us out. It does flow to the grassroots level now. It's too early to see how the results are and how it all pans out. But I think the first step. Ontario Securities Commission is asking the questions. Anybody interested in this they can just google burden reduction. Ontario Securities Commission staff noticed, and they should be able to see summary of that. But the regulator is starting to ask some of the key questions. For example, are there operational or procedural changes which would make our day to day life easier or less costly. Are there ways to get greater certainty regarding the regulatory requirements. Because we have oftentimes waited for over a year to get approval on something simple lasting bureaucracy. So, when we see this it's very encouraging. There are questions around their forms and filings that we and other market participants need to submit. That can be lessened. Are there other items that are unduly burdensome. So, all of this is very encouraging, and I really hope that our community will participate. They're asking for feedback, I think. Craig Asano at NCFA is doing a phenomenal job putting it all together. So, people should reach out to him and write to him and also make the comments available to Ontario Securities Commission Act. Comments@OSC.ON.CA. It's very for the industry lobby just together.

Manseeb Khan: Yeah. Hey, I got a shout out  Craig. I mean that guy cannot get champion enough. He's doing absolutely incredible things in the industry and I mean having amazing people like you and having people like Craig and just having so many incredible people in the industry advocating for change I think I really think it's just a matter of time because every single person in the fintech industry has a very great personal brand behind them and they have amazing audiences behind them so it's like hey where you guys are just shedding light on issues and topics and concerns. So, I think again I think it is a matter of time. Everything we happen.

Amar Nijjar: I think one of the things and what you're doing is also extremely helpful. You are part of this change. You are going to make this incrementally better for each of us and maybe exponentially better. And what you are doing is extremely important to get our voices heard. And you know in the Internet age of the blogs and podcasts I think the message goes fast and people appreciate that. But you know what. One of the guys that I think you should interview on your next one should be Grant Vingoe. He is vice chair OSC, Ontario securities commission. I've an opportunity to meet with them. Very, very nice individual and very professional. He understands the pain point and he has expressed enormous willingness to help the industry. So, I think they need to be on the podcast. There is another individual Naizam Kanji . He's director of the M&A and he is the special advisor to the chair on regulatory burden reduction. You should get Naizam Kanji on your show as well. And these things are extremely important to do.

Manseeb Khan: I just wrote that  while you're giving me the names, I was writing them down to lock them in for the next couple episodes, so we'll have like a little burden reduction regulatory a theme there. We mentioned the minister a little bit. Could you just be looping back? Could you explain what the guidance kind of looks like. What are you excited about? Would you not accept about? I mean there's definitely a lot of excitement behind this but there's probably a lot of concerns, could you voice a little bit more on that?

Amar Nijjar: Yeah, I mean look this is all positive. It is definitely extremely positive. So what Fideli's office, what Ford government's messaging open for business burden reduction all these good things that they're saying. What's encouraging is that it would appear that it's just not lip service that it's actually getting pushed down to the grassroots level through the government and associated bodies whether that's ministry of labor, Ontario Securities Commission, financial services commission of Ontario and many other layers of regulatory bodies out there. So, it's very encouraging step. And they've made a blanket statement 25 percent burden reduction. And I think that's extremely important to set. That's kind of a milestone because other than that it's just a bunch of words and it doesn't mean anything. So that feedback down to the different government bodies to take action is a bubbling through the industry. So, it's very encouraging to see that.

Manseeb Khan: Is there anything else that you're currently excited about. I mean being in the real estate space, being in the fintech space now , 2019 is a new year. I mean everybody has their one thing that they're excited about. Could you just for a second give us a little bit more insight of what you're really excited to see in 2019.

Amar Nijjar: Right. So, look you know perhaps I can talk about platforms like ours and I'm sure there are many others that in different industries the value that they're creating. So, what is R2 fundamentally do that's different than the public markets and other opportunities out there the public market the reach stock somebody can invest in a real can or some of these other equities out there it's public market risk. You get 4-5 percent distribution and then the real estate could be fine if the stock market takes a tumble. Your stock does too. The large real estate is in the hands of billions of dollars of pension fund managers, investment managers, institutional money managers, large family offices to them basically high net worth guys and girls. But the masses they're like an estate look around real estate is all around you. But how do you participate in that. How do you take a little investment off your holding into real estate? It was impossible because all of that is private. You can buy it you know if somebody has as rich dad, they can certainly put together to few million bucks and buy a property worth 8 million take a mortgage for five or six and put the 2 million is cash and have a nice 15 percent return over per year for the next three to four years right. But fundamentally the value we are creating groups like ours are creating in the industry that we are allowing investors to invest into those kinds of deals for small amounts. Ten thousand dollars, twenty-five thousand dollars and sometimes even smaller. So what we are doing is we're opening up a source of capital for property owners and developers who need that capital formation to be able to do more product yes to charge a fee but they're happy to share in the profits and the rental income and development profits and at the same time we are opening up investment opportunities for small investors to invest into property direct. So how are the regulators and the government allow us to work is going to fundamentally change lives of many people and that investment in wealth holdings right. The Wealth simples. You know what they have done allows small investors to go online in a fun exciting manner. But those groups like ours we are only as good as the regulator would allow us to. And the bandwidth is small. Right. Like our runway is small so if we either we get over the hump and we survive, or the burden takes over and it kills the business and then the innovation moves to other jurisdictions then we as Canadians we cannot afford to leave talent from Canada elsewhere.

Manseeb Khan: Yes, I can't agree with you more. I mean just talking to like CEOs that are building companies in Canada, build companies in Toronto. The talent pool in Canada is actually incredible something that a lot that a lot of Canadians if not maybe the world may overlook and just letting that die and letting about to just kind of go to waste that just would be such a shame. But I mean on the positive end are seeing a lot more last year especially this year a lot of international investments coming into Canada actually seeing hey wow Canada actually has some really talented people, very interesting very, smart people and they're building some very incredible. Let's be part of this. Let's try to grab a piece of this or let's try to build this to become the next Singapore or what may have you right?

Amar Nijjar: Hundred percent. Hundred percent. We are attracting talent from other jurisdictions. I think there's a lot more to be done there. We are certainly you know with just tons of talent here that we need to retain better. You know I think diversity is our strength. I think with all the backgrounds we have that that's driving entrepreneurship that comes along with a lot of immigrants. They come with the dream. And I think all of that makes Canada a unique place. So, our regulators and the government need to help us to bring some of the success stories outside of Canada and make a global success story. Canada's a small market and economies of scale are incredibly difficult to attain in Canada. But on top of that we have all this burden. So, unless we innovate and be flexible, we cannot create delays. Look at how many Canadian success stories are out there especially in the technology space compared to the stories coming out of China or India or USA obviously. Right. We are far behind, but we can do so much better.

Manseeb Khan: Yes. I can't agree with you more taking stories like yours taking stories like some of the past guess that we've had or just Canadian success stories and kind of projecting it into the global marketplace. I think that's just going to help us even more and let outside eyes kind of understand like what's kind of going on and hopefully help because Canada like you said is a very small market and it has such a potential to be such a power player. But as of yet like we're making steps but we're not there yet. Right.

Amar Nijjar: So, thank you for your time. I do have to run for a meeting unless there's any last.

Manseeb Khan: No, the last one would be what's the best way to contact you. Do we email we Snapchat you? For people to want to get into or to  R2 investments or just to talk to you directly and to understand a little

Amar Nijjar: My personal contact is best on LinkedIn which is Amar Nijjar and R2  without the D so if somebody linked in me that I am I'm more than happy to accept the invitation to engage with them. Our  Web site to learn more about how we are innovating in the spaces r2-re.com and re as in real estate.

Manseeb Khan: Awesome. So, Amar thank you so much for sitting down me today and yeah, I wish you all the best and we'd have you on our show again.

Amar Nijjar: Thank you.

Manseeb Khan: And yep that's it. That's the on the show on the behalf of Canada's leading national fintech crowdfunding association. I wish you an amazing FinTech Friday and weekend.

Outro : you've been listening to fintech Fridays brought to you by NCFA and partners. Tune in weekly for the latest fintech Friday podcast by subscribing to this channel. The National crowdfunding and FinTech Association of Canada is a non-profit actively engaged with social and investment fintech sectors around the globe and provide education research industry stewardship services and networking opportunities to thousands of members and subscribers. For more information please visit and see if a Canada dot org. Oh yea.

 

End of Podcast

 

Subscribe & Listen to more Fintech Fridays podcasts: Season 1 | Season 2

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!

Interested in getting involved as a partner or participant? 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

Ryan Aceman, special to BNN Bloomberg | March 15, 2019 #FFCON19 is set to showcase the importance of being fearless to succeed in Fintech 12 cutting-edge companies will compete in a ground-breaking pitch competition  Key emerging trends from tech and investment realms will be highlighted Where finance and technology meet, lies one of the most fascinating sectors of the modern world. From its inception, the financial technology (Fintech) space has been built on inventive thinking and unconventional concepts. This crucial intersection has the power to transform global banking, investing, and many other sectors that people and businesses interact with on a daily basis. "The Canadian Fintech industry is leading the way in revolutionizing financial services and events such as FFCON19 to help create a strong ecosystem that cultivates innovation and growth.  Excited to be a part of it!" — Dr. Dan Rosen, CEO of d1g1t.com From April 3rd–4th in Toronto, Ontario, FFCON2019: Fearless will aim to embody this innovative essence, hosting a variety of influential thought leaders, industry experts, and 750 attendees. The event will function as a comprehensive and daring expo showcasing innovators and disrupters that are having significant impacts within Fintech. Attendees will learn vital content delivered from ...
Read More
Canada’s leading Fintech and financing conference
Chainbits | Nathan Rodriguez | March 14, 2019 After the ongoing saga of Canada’s largest cryptocurrency exchange QuadrigaCX’s downfall, another Canadian cryptocurrency company is now coming under scrutiny. Canada Bitcoin Exchange Inc. is now being investigated as a possible scam. Warning Against Canada Bitcoin Exchange The British Columbia Securities Commission (BCSC), a Canadian financial regulator, has issued a warning against Canada Bitcoin Exchange. The watchdog stated that the company was offering overly attractive BTC (Bitcoin) investment plans to its customers. Canada Bitcoin Exchange was offering 4 different BTC investment plans on its website. Each of the programs asked users to invest a certain amount of capital for a period of 24 to 48 hours. In return, the company offered returns that started at 3.586% and went as high as 7.985%. The website stated that Canada Bitcoin Exchange would reinvest customers’ BTC in other stocks as well as cryptocurrencies. The company claimed to have a team of professional market analysts in place who knew how to find hot stocks. The company also stated that this project was run by the Canada Bitcoin Exchange Group. Signs of a Scam Upon investigating the company, the BCSC found that Canada Bitcoin Exchange was an ...
Read More
Another Canadian Crypto Exchange Under Fire
Dr Dan Rosen is a FinTech Entrepreneur and Quant. He is currently the Chief Executive Officer of d1g1t Inc., a new digital wealth management platform, powered by analytics, that offers advanced transparent portfolio management services to advisors and their individual investors. He is an Adjunct Professor of Mathematical Finance at the University of Toronto and was the first Director of the Centre for Financial Industries at the Fields Institute for Research in Mathematical Sciences. Dr Rosen was the co-founder and CEO R2 Financial Technologies, acquired by S&P Capital IQ in 2012, and where he was Managing Director for Risk and Analytics until 2015. Prior to starting R2 in 2006, Dr Rosen had a successful career over a decade at Algorithmics Inc., where he led financial engineering and research, strategy, products and marketing. In addition to working with numerous financial institutions around the world, he lectures extensively on financial engineering, portfolio management, enterprise risk and capital management, credit and market risk, valuation of derivatives and structured finance. He has authored numerous risk management and financial engineering publications, including two books, and several patents, and serves in the editorial board of various industrial and academic journals. Dr Rosen was inducted in 2010 ...
Read More
Meet FFCON19 Featured Keynote Speaker: Dr. Dan Rosen
NCFA | FFCON19 Team | March 14, 2019 Want some credit for being in Fintech? Things are tough out there for some parts of Fintech. If you are part of the ICO, blockchain economy for example, they tell you it’s winter. Those bear markets are tough. It’s like Rodney Dangerfield used to say: No respect. You just wish you could get some credit for your hard work and your groundbreaking innovation... I’ve got some good news for you. FFCON19: FEARLESS has partnered with a company that wants to give you the credit you deserve. Well, $10 bucks worth on your next ride with our friends at Lyft. (No taxi for you!) But only if you register and join us on April 3-4 in downtown Toronto. FFCON19 is a fintech focused conference and expo with several special guests, an amazing lineup of speakers, many well known investors and investment opportunities galore through a pitching competition. And guess what? You can still get a discounted ticket. But you only have 2, that’s right, TWO days left. This deal disappears on March 15, 2019. So if you would like Lyft to give you a little fintech credit while networking, pitching, speaking, connecting and ...
Read More
Want some credit for being in Fintech?
CSA | March 14, 2019 Toronto – The Canadian Securities Administrators (CSA) and Investment Industry Regulatory Organization of Canada (IIROC) today published Joint Canadian Securities Administrators/Investment Industry Regulatory Organization of Canada Consultation Paper 21-402 Proposed Framework for Crypto-Asset Trading Platforms. The consultation paper seeks input from the fintech community, market participants, investors and other stakeholders on how regulatory requirements may be tailored for crypto-asset trading platforms (platforms) operating in Canada. “This consultation outlines a proposed regulatory framework that provides clarity for platforms, greater market integrity and protection for investors,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Platforms have told us that a tailored regulatory framework is welcome as they seek to build consumer confidence and expand their businesses across Canada and globally.” “The emergence of digital and crypto assets continues to be a growing area of interest for regulators, investors and marketplaces – and, together, securities regulators are taking steps to deepen our understanding of this area,” added Andrew J. Kriegler, President and CEO, IIROC. “We must adapt to innovation, and provide clarity to the market about how regulatory requirements might best be tailored and applied to these unique business models, while ...
Read More
Canadian securities regulators consult on regulatory framework for crypto-asset trading platforms
Polymath / KABN release | March 11, 2019 TORONTO & SAINT MICHAEL, Barbados & GIBRALTAR--(BUSINESS WIRE)--Polymath (www.polymath.network), the global leader in software solutions that enable assets to be digitized, distributed, fractionally owned, and ultimately liquidated, has formed a consortium in close collaboration with KABN (www.kabn.network), a global financial services platform that has developed, among its suite of products, a patent pending, blockchain based, GDPR compliant, Always On, global identification and accreditation as a support service for investors and other types of contributors. Polymath is leading the effort to make it easier for organizations to create digital securities from traditional assets through partnerships and a community that supports a transparent and compliant process for issuers and investors. Through its extensive service provider network with firms like KABN, Polymath provides security token issuers with access to top quality service providers. “Our solution supports the creation of digital securities from a wide range of traditional and non-traditional assets,” said Kevin North, CEO of Polymath. “The intention of this partnership is to create a best practice model for customers who need help with the full lifecycle of an STO (Security Token Offering). In this model, the issuer would work with an integrated network of ...
Read More
Polymath and KABN Announce Consortium to Accelerate the Creation, Distribution, and Management of Digital Securities Across Multiple Jurisdictions and Platforms
NCFA Canada | Burden Reduction Committee | March 1, 2019 Executive Summary In response to the Ontario Securities Commission’s (OSC’s) January 14, 2019 request for comments, this submission responds to the eight questions set out in the OSC’s Staff Notice 11-784. This submission draws heavily on, and also updates, the Association’s earlier submission to the OSC dated August 24, 2017 (see Appendix), which primarily focused on the crowdfunding requirements in Ontario. The National Crowdfunding and Fintech Association of Canada (the Association) represents over 2,000 fintech SMEs and individual members that support financial and capital market innovation, small businesses and technology. We are pleased that the Ontario government is undertaking this important regulatory burden reduction initiative to the benefit of all Ontarians. The Association has consulted a number of diverse crowdfunding and fintech stakeholders – including exempt market dealers, industry experts, securities lawyers, regulators and government agencies and is proposing several recommendations to reduce unjustifiable burdens placed on Ontario’s businesses. The Association recommends that the province undertake the following: The OSC conduct a review and publish a report evaluating the effectiveness of Ontario’s crowdfunding regulations (45-108) compared to other jurisdictions in Canada and international competitors such as the UK, US and ...
Read More
March 1, 2019:  NCFA Submission to the Ontario Securities Commission on Regulatory Burden
NCFA Canada | Mar 8, 2019 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep28-Mar 8:  Rethinking Brokers with Muhammad Rashid About this episode:   On this episode of the Fintech Friday's Podcast, our host Manseeb Khan sits down with Muhammad Rashid the CEO of Moregidge. They chatted about how to find a broker that will work for you, how they are revolutionizing the mortgage space and their plans for the future. - Enjoy! HOST:  Manseeb Khan, Fintech Friday's show host GUEST:  MUHAMMAD RASHID, Co-Founder and CEO, Moregidge (Linkedin) BIO:  Muhammad started his career at Flipp, a Toronto-based startup helping retailers digitize traditional circulars and re-imagine the weekly shopping experience. He built and scaled the operations team from 10 people to over 300 across 4 countries. He was also instrumental in developing user retention and retailer ROI strategies through content acquisition and promoting added utility within the mobile app. From there, Muhammad joined Sampler, working alongside manufacturers to distribute targeted, measurable samples directly to consumers. He lead the strategy and expansion of their logistics network into international countries including the UK, France, Italy and Germany. Muhammad is now the Co-Founder and CEO of Moregidge, focusing on reinventing the home-buying experience. Subscribe ...
Read More
Ep28-Mar 8:  Rethinking Brokers with Muhammad Rashid
FrontFundr | March 7,2019 On the 108th anniversary of International Women’s Day, FrontFundr, Canada’s number one investment crowdfunding site has commissioned a survey to understand gender parity in personal finance for women, and the results aren’t good. Only 12% of Canadian women aged 25 - 65 feel that they, personally have Financial Equality, where wealth is distributed equally. 29% of women in the same survey felt they had Financial Independence. Financial independence is not only a source of confidence but also gives women the credibility to participate in important matters of decision making, for themselves and their families. 45% of women surveyed believed personally they had none of Financial Equality, Financial Independence, a plan for retirement or enough savings for retirement. Women manage $2.2 trillion of financial assets in Canada CIBC undertook their Women and Wealth study in November 2018, which highlighted the financial assets that women control. They found41% of women (single, divorced, widows, and women responsible for investment decisions) control no less than $2.2 trillion of financial assets. And that number is expected to rise quickly, as the cohort of women with stronger labour incomes and retirees grows. CIBC estimates that by 2028, women will control just under $3.8 trillion ...
Read More
Six steps to achieve financial gender parity this #IWD
FCA | March 8, 2019 The Financial Conduct Authority (FCA) has today published two pieces of research looking at UK consumer attitudes to cryptoassets, such as Bitcoin or Ether. The research includes qualitative interviews with UK consumers and a national survey. The qualitative research indicated some potential harm, including that many consumers may not fully understand what they are purchasing. For example, several of those interviewed talked of wanting to buy a ‘whole’ coin, suggesting they did not realise they could buy part of a cryptoasset. Despite this lack of understanding, the cryptoasset owners interviewed were often looking for ways to ‘get rich quick’, citing friends, acquaintances and social media influencers as key motivations for buying cryptoassets. See:  SEC wants big data tools for monitoring and enforcing cryptocurrency market compliance Both the survey and qualitative research found that some cryptoasset owners made their purchases without completing any research beforehand. However, despite the general poor understanding of cryptoassets amongst UK consumers, findings from the survey suggest that currently the overall scale of harm may not be as high as previously thought. 73% of UK consumers surveyed don’t know what a 'cryptocurrency' is or are unable to define it – those most aware ...
Read More
FCA reveals findings from first cryptoassets consumer research

 

Share

Pop-up Magazine: NCFA Blockchain Fintech Confidential (Vol 1. Issue 1)

Share

Share

FINTECH FRIDAY$ Podcast: Season 2

Share

JOIN US ON A STORYTELLING JOURNEY:  SEASON 2

Ep28-Mar 8:  Rethinking Brokers with Muhammad Rashid

About this episode:  On this episode of the Fintech Friday's Podcast, our host Manseeb Khan sits down with Muhammad Rashid the CEO of Moregidge. They chatted about how to find a broker that will work for you, how they are revolutionizing the mortgage space and their plans for the future. - Enjoy! (Transcript)

 

GUEST:  MUHAMMAD RASHID, Co-Founder and CEO, Moregidge (Linkedin)

BIO:  Muhammad started his career at Flipp, a Toronto-based startup helping retailers digitize traditional circulars and re-imagine the weekly shopping experience. He built and scaled the operations team from 10 people to over 300 across 4 countries. He was also instrumental in developing user retention and retailer ROI strategies through content acquisition and promoting added utility within the mobile app. From there, Muhammad joined Sampler, working alongside manufacturers to distribute targeted, measurable samples directly to consumers. He lead the strategy and expansion of their logistics network into international countries including the UK, France, Italy and Germany. Muhammad is now the Co-Founder and CEO of Moregidge, focusing on reinventing the home-buying experience.

Ep20-Jan 11:  Bitcoin Backed Loans and 2x Credit - Putting Your Crypto to Work

About this episode:  To kick off Season 2, NCFA Fintech Fridays show host Manseeb Khan sits down with the CSO of Ledn Inc.. Mauricio Di Bartolomeo. They chatted about what crypto backed loans are, going global and saving the world. Enjoy! (Transcript)

  • Experiencing the dismantling of the Venezuelan economy; a broken financial system
  • The use case and value of collateralizing digital assets
  • Libertarian aspects of bitcoin and how it is benefiting the people outside of North America or in tyrannical regimes

Ep21-Jan 18:  Meritocracy, Decentralized Innovation and the Power of Collaboration

About this episode:  On this episode NCFA Fintech Friday's host Manseeb Khan sits down with Hussein Hallak the CEO of Next Decentrum. They chat about AI in the education space, mentorship, and what decentralized innovation looks like to him. Enjoy !  (Transcript)

  • Humans aren't perfect but we've managed to create online meritocracy through communities and value systems
  • A vision for global education and decentralized access to innovation and mentors
  • Top advice to startups and entrepreneurs launching new ventures (passion, idea, ability to add value)

Ep22-Jan 25:  Reducing Regulatory Burden by 25% in Ontario

About this episode:  On this episode of the Fintech Friday's Podcast, our Manseeb Khan sits down with Amar Nijjar the CEO of R2 investments. They chat about how R2 is helping innovate the real estate space, the Ontario's Securities commission hitting their 25% burden reduction goal, and Canada becoming a force to be reckoned with. Enjoy! (Transcript)

  • The complexities of Canada's regulatory burdens are preventing us from becoming a global player
  • All innovative entrepreneurs in the fintech sector should be getting behind the burden reduction initiative
  • Commercial real estate is a good asset class and now open to regular investors

Ep23-Feb 1: Getting Smart About Crypto and Insurtech Snapchat Models

About this episode:  On this episode of the Fintech Fridays Podcast, our host Manseeb Khan sits down with Justin Hartzman the CEO of Coinsmart. They chat about education the average Canadian on crypto, the future of digital wallets and the new wave of insure-tech. Enjoy! (Transcript)

  • Move over bear, OTC markets are biting at the bit
  • Supporting Canadian entrepreneurs and awesome tech
  • The latest in insurtech snapchat models

Ep24-Feb 8:  Re-imagining Philanthropy with Daryl Hatton

About this episode:  On this Episode of the Fintech Friday's Podcast, our host Manseeb Khan sits down with Daryl Hatton the CEO of Connection Point. They chatted about microprojects, saving little girls and puppies and how to get hooked on Philanthropy. Enjoy!  (Transcript)

  • Focus on value and avoid the complicated terminology when growing new innovative markets
  • Branding customer segment-focused funding products, white labeling collaborative uses cases
  • Crowdfunding for good at the intersection of technology, people and impact

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

About this episode:  On this episode of the Fintech Friday's Podcast our host, Manseeb Khan sits down with Kate Guimbellot and Jason Sosnowski from the TravelCoin Foundation. They chat about bringing Free Wi-Fi to the world, blockchain in medicine and how their ICO is different from the rest. Enjoy! (Transcript)

Host: Manseeb Khan, NCFA, Fintech Fridays show host

Guests:

  • KATE GUIMBELLOT, Executive Director, TravelCoin Foundation (LinkedIn)
  • JASON SOSNOWSKI, CTO, TravelCoin Foundation (view)

Ep26-Feb 22:  Crowd raising with Peter-Paul Van Hoeken

About this episode:  On this episode of the Fintech Friday Podcast, our host Manseeb Khan sits down with Peter-Paul Van Hoeken the CEO of Frontfundr. They chat about crowd raising, drinking your own whiskey and the future of Canadian crowdfunding.  Enjoy!  (Transcript)

Ep27-Mar 1:  Blockchain Gaming with Shidan Gouran

About this episode:  On this week's episode of the Fintech Friday's Podcast our host Manseeb Khan sits down with the CEO of Global Blockchain Technologies Shidan Gouran. They chat about acquiring X2 games, Facebook getting into the blockchain, and the future of Fortnight - Enjoy! (Transcript)

GUEST:  SHIDAN GOURAN, CEO, Global Blockchain Technologies (Linkedin)

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)

 

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

Ryan Aceman, special to BNN Bloomberg | March 15, 2019 #FFCON19 is set to showcase the importance of being fearless to succeed in Fintech 12 cutting-edge companies will compete in a ground-breaking pitch competition  Key emerging trends from tech and investment realms will be highlighted Where finance and technology meet, lies one of the most fascinating sectors of the modern world. From its inception, the financial technology (Fintech) space has been built on inventive thinking and unconventional concepts. This crucial intersection has the power to transform global banking, investing, and many other sectors that people and businesses interact with on a daily basis. "The Canadian Fintech industry is leading the way in revolutionizing financial services and events such as FFCON19 to help create a strong ecosystem that cultivates innovation and growth.  Excited to be a part of it!" — Dr. Dan Rosen, CEO of d1g1t.com From April 3rd–4th in Toronto, Ontario, FFCON2019: Fearless will aim to embody this innovative essence, hosting a variety of influential thought leaders, industry experts, and 750 attendees. The event will function as a comprehensive and daring expo showcasing innovators and disrupters that are having significant impacts within Fintech. Attendees will learn vital content delivered from ...
Read More
Canada’s leading Fintech and financing conference
Chainbits | Nathan Rodriguez | March 14, 2019 After the ongoing saga of Canada’s largest cryptocurrency exchange QuadrigaCX’s downfall, another Canadian cryptocurrency company is now coming under scrutiny. Canada Bitcoin Exchange Inc. is now being investigated as a possible scam. Warning Against Canada Bitcoin Exchange The British Columbia Securities Commission (BCSC), a Canadian financial regulator, has issued a warning against Canada Bitcoin Exchange. The watchdog stated that the company was offering overly attractive BTC (Bitcoin) investment plans to its customers. Canada Bitcoin Exchange was offering 4 different BTC investment plans on its website. Each of the programs asked users to invest a certain amount of capital for a period of 24 to 48 hours. In return, the company offered returns that started at 3.586% and went as high as 7.985%. The website stated that Canada Bitcoin Exchange would reinvest customers’ BTC in other stocks as well as cryptocurrencies. The company claimed to have a team of professional market analysts in place who knew how to find hot stocks. The company also stated that this project was run by the Canada Bitcoin Exchange Group. Signs of a Scam Upon investigating the company, the BCSC found that Canada Bitcoin Exchange was an ...
Read More
Another Canadian Crypto Exchange Under Fire
Dr Dan Rosen is a FinTech Entrepreneur and Quant. He is currently the Chief Executive Officer of d1g1t Inc., a new digital wealth management platform, powered by analytics, that offers advanced transparent portfolio management services to advisors and their individual investors. He is an Adjunct Professor of Mathematical Finance at the University of Toronto and was the first Director of the Centre for Financial Industries at the Fields Institute for Research in Mathematical Sciences. Dr Rosen was the co-founder and CEO R2 Financial Technologies, acquired by S&P Capital IQ in 2012, and where he was Managing Director for Risk and Analytics until 2015. Prior to starting R2 in 2006, Dr Rosen had a successful career over a decade at Algorithmics Inc., where he led financial engineering and research, strategy, products and marketing. In addition to working with numerous financial institutions around the world, he lectures extensively on financial engineering, portfolio management, enterprise risk and capital management, credit and market risk, valuation of derivatives and structured finance. He has authored numerous risk management and financial engineering publications, including two books, and several patents, and serves in the editorial board of various industrial and academic journals. Dr Rosen was inducted in 2010 ...
Read More
Meet FFCON19 Featured Keynote Speaker: Dr. Dan Rosen
NCFA | FFCON19 Team | March 14, 2019 Want some credit for being in Fintech? Things are tough out there for some parts of Fintech. If you are part of the ICO, blockchain economy for example, they tell you it’s winter. Those bear markets are tough. It’s like Rodney Dangerfield used to say: No respect. You just wish you could get some credit for your hard work and your groundbreaking innovation... I’ve got some good news for you. FFCON19: FEARLESS has partnered with a company that wants to give you the credit you deserve. Well, $10 bucks worth on your next ride with our friends at Lyft. (No taxi for you!) But only if you register and join us on April 3-4 in downtown Toronto. FFCON19 is a fintech focused conference and expo with several special guests, an amazing lineup of speakers, many well known investors and investment opportunities galore through a pitching competition. And guess what? You can still get a discounted ticket. But you only have 2, that’s right, TWO days left. This deal disappears on March 15, 2019. So if you would like Lyft to give you a little fintech credit while networking, pitching, speaking, connecting and ...
Read More
Want some credit for being in Fintech?
CSA | March 14, 2019 Toronto – The Canadian Securities Administrators (CSA) and Investment Industry Regulatory Organization of Canada (IIROC) today published Joint Canadian Securities Administrators/Investment Industry Regulatory Organization of Canada Consultation Paper 21-402 Proposed Framework for Crypto-Asset Trading Platforms. The consultation paper seeks input from the fintech community, market participants, investors and other stakeholders on how regulatory requirements may be tailored for crypto-asset trading platforms (platforms) operating in Canada. “This consultation outlines a proposed regulatory framework that provides clarity for platforms, greater market integrity and protection for investors,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Platforms have told us that a tailored regulatory framework is welcome as they seek to build consumer confidence and expand their businesses across Canada and globally.” “The emergence of digital and crypto assets continues to be a growing area of interest for regulators, investors and marketplaces – and, together, securities regulators are taking steps to deepen our understanding of this area,” added Andrew J. Kriegler, President and CEO, IIROC. “We must adapt to innovation, and provide clarity to the market about how regulatory requirements might best be tailored and applied to these unique business models, while ...
Read More
Canadian securities regulators consult on regulatory framework for crypto-asset trading platforms
Polymath / KABN release | March 11, 2019 TORONTO & SAINT MICHAEL, Barbados & GIBRALTAR--(BUSINESS WIRE)--Polymath (www.polymath.network), the global leader in software solutions that enable assets to be digitized, distributed, fractionally owned, and ultimately liquidated, has formed a consortium in close collaboration with KABN (www.kabn.network), a global financial services platform that has developed, among its suite of products, a patent pending, blockchain based, GDPR compliant, Always On, global identification and accreditation as a support service for investors and other types of contributors. Polymath is leading the effort to make it easier for organizations to create digital securities from traditional assets through partnerships and a community that supports a transparent and compliant process for issuers and investors. Through its extensive service provider network with firms like KABN, Polymath provides security token issuers with access to top quality service providers. “Our solution supports the creation of digital securities from a wide range of traditional and non-traditional assets,” said Kevin North, CEO of Polymath. “The intention of this partnership is to create a best practice model for customers who need help with the full lifecycle of an STO (Security Token Offering). In this model, the issuer would work with an integrated network of ...
Read More
Polymath and KABN Announce Consortium to Accelerate the Creation, Distribution, and Management of Digital Securities Across Multiple Jurisdictions and Platforms
NCFA Canada | Burden Reduction Committee | March 1, 2019 Executive Summary In response to the Ontario Securities Commission’s (OSC’s) January 14, 2019 request for comments, this submission responds to the eight questions set out in the OSC’s Staff Notice 11-784. This submission draws heavily on, and also updates, the Association’s earlier submission to the OSC dated August 24, 2017 (see Appendix), which primarily focused on the crowdfunding requirements in Ontario. The National Crowdfunding and Fintech Association of Canada (the Association) represents over 2,000 fintech SMEs and individual members that support financial and capital market innovation, small businesses and technology. We are pleased that the Ontario government is undertaking this important regulatory burden reduction initiative to the benefit of all Ontarians. The Association has consulted a number of diverse crowdfunding and fintech stakeholders – including exempt market dealers, industry experts, securities lawyers, regulators and government agencies and is proposing several recommendations to reduce unjustifiable burdens placed on Ontario’s businesses. The Association recommends that the province undertake the following: The OSC conduct a review and publish a report evaluating the effectiveness of Ontario’s crowdfunding regulations (45-108) compared to other jurisdictions in Canada and international competitors such as the UK, US and ...
Read More
March 1, 2019:  NCFA Submission to the Ontario Securities Commission on Regulatory Burden
NCFA Canada | Mar 8, 2019 JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY. Ep28-Mar 8:  Rethinking Brokers with Muhammad Rashid About this episode:   On this episode of the Fintech Friday's Podcast, our host Manseeb Khan sits down with Muhammad Rashid the CEO of Moregidge. They chatted about how to find a broker that will work for you, how they are revolutionizing the mortgage space and their plans for the future. - Enjoy! HOST:  Manseeb Khan, Fintech Friday's show host GUEST:  MUHAMMAD RASHID, Co-Founder and CEO, Moregidge (Linkedin) BIO:  Muhammad started his career at Flipp, a Toronto-based startup helping retailers digitize traditional circulars and re-imagine the weekly shopping experience. He built and scaled the operations team from 10 people to over 300 across 4 countries. He was also instrumental in developing user retention and retailer ROI strategies through content acquisition and promoting added utility within the mobile app. From there, Muhammad joined Sampler, working alongside manufacturers to distribute targeted, measurable samples directly to consumers. He lead the strategy and expansion of their logistics network into international countries including the UK, France, Italy and Germany. Muhammad is now the Co-Founder and CEO of Moregidge, focusing on reinventing the home-buying experience. Subscribe ...
Read More
Ep28-Mar 8:  Rethinking Brokers with Muhammad Rashid
FrontFundr | March 7,2019 On the 108th anniversary of International Women’s Day, FrontFundr, Canada’s number one investment crowdfunding site has commissioned a survey to understand gender parity in personal finance for women, and the results aren’t good. Only 12% of Canadian women aged 25 - 65 feel that they, personally have Financial Equality, where wealth is distributed equally. 29% of women in the same survey felt they had Financial Independence. Financial independence is not only a source of confidence but also gives women the credibility to participate in important matters of decision making, for themselves and their families. 45% of women surveyed believed personally they had none of Financial Equality, Financial Independence, a plan for retirement or enough savings for retirement. Women manage $2.2 trillion of financial assets in Canada CIBC undertook their Women and Wealth study in November 2018, which highlighted the financial assets that women control. They found41% of women (single, divorced, widows, and women responsible for investment decisions) control no less than $2.2 trillion of financial assets. And that number is expected to rise quickly, as the cohort of women with stronger labour incomes and retirees grows. CIBC estimates that by 2028, women will control just under $3.8 trillion ...
Read More
Six steps to achieve financial gender parity this #IWD
FCA | March 8, 2019 The Financial Conduct Authority (FCA) has today published two pieces of research looking at UK consumer attitudes to cryptoassets, such as Bitcoin or Ether. The research includes qualitative interviews with UK consumers and a national survey. The qualitative research indicated some potential harm, including that many consumers may not fully understand what they are purchasing. For example, several of those interviewed talked of wanting to buy a ‘whole’ coin, suggesting they did not realise they could buy part of a cryptoasset. Despite this lack of understanding, the cryptoasset owners interviewed were often looking for ways to ‘get rich quick’, citing friends, acquaintances and social media influencers as key motivations for buying cryptoassets. See:  SEC wants big data tools for monitoring and enforcing cryptocurrency market compliance Both the survey and qualitative research found that some cryptoasset owners made their purchases without completing any research beforehand. However, despite the general poor understanding of cryptoassets amongst UK consumers, findings from the survey suggest that currently the overall scale of harm may not be as high as previously thought. 73% of UK consumers surveyed don’t know what a 'cryptocurrency' is or are unable to define it – those most aware ...
Read More
FCA reveals findings from first cryptoassets consumer research

 

Share