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How Covid has kickstarted Canadian fintech

Verdict | Eric Johansson | Nov 22, 2021

Canadian dollars  - How Covid has kickstarted Canadian fintech

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Fintech innovators in Canada are enjoying their best year ever, having overcome the shocks of Covid-19. The coronavirus only seems to have whetted the Great White North’s appetite for disruption in its financial services. However, when the pandemic first hit, few dared believe the global contagion would benefit the nation’s fintech entrepreneurs.

Karim Gillani remembers those first few months well. He’s the co-founder and general partner at Luge Capital, a venture capital firm specialising in Canadian fintech startups.  “We didn’t know or understand what the future was gonna hold both short term and long term,” Gillani tells Verdict about those first months in 2020 when the virus swept across the globe.

They were not alone. Entrepreneurs, investors and other stakeholders in the Canadian fintech industry all prepared themselves for a hard year, not knowing what the pandemic would mean on both a professional and a personal level.

See:  KPMG Report: Canada attracts record $4.8 billion in fintech investment in H1’21: how high can it go by year end?

Their concerns proved well-founded. The fintech investment figures from 2020 are bleak, and consequently, the amount of cash injected into the nation’s fintech scene dropped from the record $1.6bn recorded in 2019 to $608.5m in 2020, according to FinTech Global.

Canada: a fintech nation on the rise

Once the initial shock of the pandemic had subsided, investors and other market shareholders noted that the coronavirus actually benefited the sector.  With that in mind, Luge Capital started to invest more heavily in new startups at the end of 2020 and the beginning of 2021.

“We started to realise that a lot of digital financial services were actually getting a big bump from Covid because a lot of the financial services that are traditionally manual were turning digital,” Gillani says.  “We were looking at more and more companies and doing deals faster and faster,” he recalls. “Our volume picked up in Q4 and then we started off 2021 by closing three deals in a matter of 45 days.”

See:  Bank of Canada to become new regulator of fintech companies doing payments processing

Luge was hardly unique in doing so. Data from GlobalData’s Deals database suggests that there have been 47 VC deals worth a total of $2.1bn so far this year in the Canadian financial services industry. Of those, the heaviest investment has been seen in financial services firms’ ecommerce investments, with $1.19bn being put towards that end. Unsurprisingly, digitalisation, digital media and big data also enjoyed massive investment.

Covid-19 benefited Canada’s fintechs

Canada is a highly developed nation, but that’s also what’s been holding it back. Having a highly developed infrastructure of any kind – whether that’s payments, telephone coverage or broadband – means that replacing it becomes costly, especially if people are happy to get by with what’s already there.

Things are changing in the Great White North. Canadians are increasingly adopting new payment technologies. The pandemic has seen a $110.8% jump in the nation’s online shopping, the usage of buy-now-pay-later services like the ones offered by Affirm, and contactless payments with mobile wallets like Google Pay and Apple Pay.

See:  Financial Consumer Agency of Canada publishes BNPL pilot study

A Payments Canada study found that 62% of Canadians were using less cash than they did pre-pandemic, with 53% using card or mobile payments for in-store purchases and 42% of respondents actively avoiding shopping at places that do not accept contactless payments, partly out of fear that they’d catch the coronavirus by paying with physical money.

Insurance is another area ripe for disruption. The trend over the past few years in developed countries has seen digital first insurance companies or insurtech firms helping incumbent players digitalise their services with things like AI-powered underwriting. This sector has picked up speed thanks to the coronavirus, both in Canada and in the rest of the world.

“Younger generation – the millennials and Gen Xers – who are now adults, have not typically made buying insurance a high priority, particularly life and health insurance,” Gillani says. “And Covid has been a huge awareness-driver for ensuring you’re properly insured. This is a tech savvy generation”

See:  Q&A with Fintech Investor David Nault, Co-Founder & General Partner, Luge Capital

Open banking is available in the UK, Australia and Europe. It is not available in Canada, yet. Again, though, things seem to be moving. In August, deputy prime minister Chrystia Freeland welcomed the final report from the advisory committee on open banking. The investigation had looked into whether or not Canada should follow in the UK*s footsteps. Canada is now set to introduce open banking in 2023.

“Now is the time for Canadian founders to really succeed,” Gillani concludes.

Continue to the full article --> here


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

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

Crowdfund Insider |

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

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

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

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

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

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

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

Ontario Capital Markets Authority?

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

See:  NCFA Fintech Confidential Magazine (Issue 3)

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

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

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

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

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

To quote the CSA:

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

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

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

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

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

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

See more:  NCFA Voice and Advocacy

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

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

Continue to the full article --> here


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

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Global News Radio Interview with Michelle Beyo: Alipay – Moving Money Between Countries

NCFA Canada | Michele Beyo | Aug 19, 2020

Michele Beyo interview on the Shift Alipay Moving Money Between Countries - Global News Radio Interview with Michelle Beyo:  Alipay - Moving Money Between Countries

Checkout NCFA Advisor - Payments, Michelle Beyo's interview on Global News Radio

 


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

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Refusal to embrace open banking puts Canada behind yet another curve

Financial Post | Kevin Carmichael | July 10, 2020

Adam Feleskey Portag3 ventures - Refusal to embrace open banking puts Canada behind yet another curveAdam Felesky, chief executive of Portag3 Ventures LP, the venture-capital arm of Power Corp. of Canada, was primed to put his home country on the leading edge of finance at the end of last year.

“We’re on a mission to build global champions from a Canadian base,” Felesky told the TechCrunch website in early December when Portag3 announced it had raised $427 million for a new fund aimed at digital finance startups.

The “majority” of that money remains unallocated, Felesky told me this week, but that could soon change. The social distancing demanded by COVID-19 has sped up the shift to a digital economy, a boon for outfits such as Toronto-based Portag3, which specializes in identifying startups that have plans to disrupt finance. The pandemic caused a terrible recession, but anyone focused on digital technology barely noticed.

“We’ve been playing offence,” Felesky said during a Zoom interview organized by the National Crowdfunding & Fintech Association. “We’re excited about the environment right now. There are lots of opportunities.”

Without access to data, digital upstarts have little chance of stealing market share from legacy institutions, even if they offer a better service

Unfortunately for Canada, which, like most countries, will need all the investment it can get to recover from the coronavirus crisis, most of the opportunities that Felesky sees are elsewhere.

See:  Open banking would help the recovery

That’s because we Canadians — and, by extension, our elected representatives — refuse to get excited about open banking, the industry term for a regulatory regime that grants control of financial information to clients rather than the financial institutions that serve them.

Without access to data, digital upstarts have little chance of stealing market share from legacy institutions, even if they offer a better service. The United Kingdom, European Union and Australia are among the jurisdictions that have adopted open banking over the past couple of years and will benefit from a first-mover advantage as a result.

Prime Minister Justin Trudeau’s government, meanwhile, keeps postponing a decision on whether it intends to follow, which probably suits the established banking oligopoly just fine.

Around the time Portag3 closed its latest round of fundraising, an expert committee appointed by Finance Minister Bill Morneau was finishing up a report that was relatively enthusiastic about open banking. In January, Morneau released the review and announced additional consultations would be held in the spring. Those meetings were postponed until autumn because of the pandemic, meaning regulatory clarity is at least a year away, if not longer.

As a result, Portag3’s money probably will end up in places where governments have decided to embrace the future, rather than serve the interests of legacy interests by dallying. Canada will have exposure to the digital shift in financial services thanks to the ownership stakes Portag3 and others take in various international firms. But the actual champions of global finance will continue to come from elsewhere, and their clients in Europe and Asia will be first to enjoy the benefits of better service.

See:  NCFA Open Letter: Government should collaborate with Fintechs

“Unfortunately, we’re spending more time outside of Canada than inside of Canada because of some of these (regulatory) headwinds,” Felesky said. “It’s difficult to make some of these investments believing something may occur. We just don’t have any capital in businesses that are dependent on open banking.”

A new generation of finance entrepreneurs think decades of coddling have left the big banks too risk averse to be successful in the digital economy

There is a strongly held view among fintech advocates that the big banks are using their influence to delay regulatory changes that would entice new challengers for as long as they can.

Given the banking oligopoly’s outsized role in the federal government’s COVID-19 rescue, it’s fair to wonder if it will have even greater sway over Ottawa once the emergency is over. The argument that the guarantee of financial stability justifies protecting the largest institutions from competition will be strengthened by Bay Street’s ability to keep many mortgage holders and smaller companies afloat during the crisis.

See:  NCFA Announces Updated Virtual Interactive Programme for FFCON20 DIGITAL, the 6th annual Fintech and Financing Conference

There will need to be more urgency in Ottawa, too, and some of that will have to be directed by us, so call your member of Parliament. The opportunity cost of letting the banks and their regulators sort out open banking is too great.

Continue to the full article --> here

 


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

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Sixth Annual Fintech & Funding Conference —FFCON20— Connects Fintech Community Thru Virtual Interactive Program

NetworkNewsWire | Jonathan Keim | June 16, 2020
FFCON20 banner image1 - Sixth Annual Fintech & Funding Conference —FFCON20— Connects Fintech Community Thru Virtual Interactive Program
  • Virtual interactive forum on fintech issues & developments
  • Eight weeks, eight themes
  • Presentations from leading industry figures
  • Connecting entrepreneurs and investors
  • Networking opportunities galore

What could be more apposite than a virtual fintech conference? After all, digital technologies, including those related to finance, are part and parcel of the immense virtual world known as the internet. Without digital tech, it would be impossible for the Internet to even exist — and vice versa. So it should come as no surprise to entrepreneurs, investors and others to discover that this year the annual Fintech & Funding Conference, hosted by the National Crowdfunding & Fintech Association (“NCFA”) in conjunction with the Toronto Finance International (“TFI”), has a virtual interactive agenda. The online event — FFCON20 DIGITAL — will take place every Thursday afternoon at 2 p.m. ET from July 9 through Aug. 27.

See: Vote on your favourite FFCON20 Fintech Draft companies and see them Pitch & Demo July 9 - Aug 27

For each of the eight weeks, the event will focus on a different fintech theme. A global lineup of fintech’s finest will discuss their projects, as well as the latest trends in the space. Attendees will be treated to presentations from a number of notable companies and enjoy ample opportunity to network and engage with peers and presenters.

Since its debut in 2015, FFCON has been providing a platform for pioneers and innovators in the fintech space to share new ideas and insights with each other. The gathering has also developed into an important crucible in the fintech space, catalyzing and facilitating crucial relationships between entrepreneurs and investors. It’s no wonder, then, that FFCON has turned out to be one of Canada’s top tech-networking forums. This year’s FFCON20 DIGITAL is likely to be no different, for the overarching theme of the eight-week event is RISE.

The FFCON series of conference has, year after year, drawn professionals from around the world. Attendees can expect to meet and greet influential figures from diverse fields, including AI, blockchain and crypto, capital markets, digital banking, payments, peer-to-peer finance and wealth management. Participants find themselves in an environment designed to spur growth in the Canadian fintech industry and bring its markets to life.

FFCON event organizers believe that when open-minded and innovative professionals gather together in a convivial environment that fosters discussion and the sharing of ideas, opportunities naturally follow. As such, FFCON offers participants a wealth of opportunity to develop new leads, discover new market channels and forge partnerships around innovation, technology and financing outcomes.

See: Get Your Ticket to FFCON20 DIGITAL before Jun 30 and SAVE 30%

FFCON20 DIGITAL Weekly themes cover a heterogeneous array of industry issues, including the following:

  • July 09: FFCON20 Kickoff | Scaling FinTech Funding, Innovation and Competition
  • July 16: Digital Banking, Open X, Future of PayTech
  • July 23: Sustainable Finance
  • July 30: Leadership and Adaptability
  • August 06: Digital Identity and Convergence Marketplaces
  • August 13: Currency Wars and the Rise of DeFi
  • August 20: AI in FinTech: Biased and in Need of Regulation?
  • August 27: The Biggest Debates in Fintech (Rated X) | Official Close of FFCON20

The stellar lineup of speakers includes Robert Asselin, senior director of public policy at Blackberry; Pat Chaukos, deputy director of OSC LaunchPad; Elisabeth Laett, managing partner of the Xaphan Group; Dan Dickinson, senior vice president and CIO of EQ Bank and Alixe Cormick, president of Venture Law Corporation.

For more information, visit https://fintechandfunding.com.

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NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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NCFA Jan 2018 resize - Sixth Annual Fintech & Funding Conference —FFCON20— Connects Fintech Community Thru Virtual Interactive Program The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Cryptocurrency Payments Processor CoinPayments Appoints Jason Butcher as New CEO

Crowdfund Insider | | May 14, 2020

Jason butcher - Cryptocurrency Payments Processor CoinPayments Appoints Jason Butcher as New CEOCryptocurrency payments processor CoinPayments announced on Wednesday it has appointed Jason Butcher as its new CEO. CoinPayment reported that Butcher has been its Chief Operating Officer since 2017, and previously as an advisor starting in 2015, helped boost CoinPayments’ monthly transactions to more than $100 million.

According to CoinPayments, Butcher brings nearly three decades of experience building businesses globally in diverse industries and markets. He founded HODLTech and DIGISURE in 2018, Parallel Payments in 2011, and is actively involved in a number of global FinTech, Crowdfunding, and Blockchain technology projects. He also serves as an advisor with the Blockchain Association of Canada and is the Fintech advisor for the National Crowdfunding and Fintech Association.

“Crypto-payment accessibility allows businesses to be more agile with customers and partners by offering improved security and faster transactions without red tape. Our aim is to further enable more businesses globally with custom tools and services, as well as a superior customer service experience.”

See:  WeChat live Streaming pumps life into local business in China

CoinPayments further reported it is planning to do the following under Butcher’s leadership in 2020:

  • A continued focus on delivering easy-to-use solutions and exceptional customer service to merchants
  • New advisors including world-renowned payments and cryptocurrency executives
  • Global partnerships that will deliver the CoinPayments platform directly to thousands of new merchants

Continue to the full article --> here


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

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FFCON20: RISE Event Challenges, Grows Canadian Fintech Industry

Global NewsWire | FFCON Team | Feb 6, 2020

FFCON20 spirit of competition 500 - FFCON20: RISE Event Challenges, Grows Canadian Fintech IndustryTORONTO, Feb. 06, 2020 (GLOBE NEWSWIRE) -- via NetworkWire – The sixth annual Fintech & Funding Conference and Expo (RISE) convenes on March 23–24, 2020, in Toronto. The must-attend, two-day gathering features a fintech challenge, industry workshops, invaluable pitching, prime networking and a global education. Co-hosted by the National Crowdfunding & Fintech Association (NCFA Canada) and Toronto Finance International (TFI), the conference and expo is designed to forge crucial relationships between entrepreneurs, investors and major financial stakeholders.

“FFCON isn’t just about bringing people together,” said Craig Asano, NCFA Founder and CEO. “We are dedicated to creating an experiential environment designed to challenge and grow the Canadian fintech industry and bring markets to life. We have learned that when open-minded and innovative professionals get together and facilitate engagement, debate and share ideas, the opportunities flow. That is what happens at FFCON.”

This year’s event is expected to attract more than 750 attendees, participants and sponsors from leading fintech startups/scale-ups, investors, industry leaders and key stakeholders. Participants come to develop new leads, discover new market channels and forge partnerships around innovation, technology and financing outcomes.

FFCON has gained a reputation for gathering world-class speakers who drive lively debate and thought-provoking discussions. These professionals share new ideas, important experiences and interesting developments within the fintech space. Presentations also explore the latest topics and innovations along with emerging regulation and its impact on financial technology markets.

“We have the opportunity to leverage North America’s second-largest financial centre, combined with its third-largest tech cluster, and use this momentum to become a global fintech leader. Collaboration among industry stakeholders is a critical element required to move Toronto into the top tier of international fintech hubs, and we are pleased to be working with NCFA to support and grow the sector’s innovation ecosystem,” said Jennifer Reynolds, President & CEO, TFI.

FFCON events are built on the idea that all good business starts with an initial relationship, partnership or project. The FFCON20: RISE agenda is strategically designed to create invaluable opportunities for participants to meet and network with entrepreneurs, investors, regulators and government officials as they search for mentors, investment or funding.

Additional details about FFCON20: RISE, slated for March 23–24, 2020, can be found at https://fintechandfunding.com.

About FFCON

FFCON is a must-attend event focused on raising capital, blockchain technology and alternative investing as well as uncovering and celebrating the rising stars and who’s who of fintech, blockchain, and alternative finance. The conference and expo connect high-growth entrepreneurs and startups seeking seed and growth capital with venture capitalists, retail and accredited investors and institutional asset managers.

About National Crowdfunding & Fintech Association

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. For more information, please visit: ncfacanada.org

About Toronto Finance International

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


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