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 a Fellow of the Fields Institute for his “outstanding contributions to the Fields Institute, its programs, and to the Canadian mathematical community”. He currently serves in the Board of Directors of the Fields Institute, as well as in the Advisory Boards of the OSC on Fintech, Canada’s Institute Innovation Platform (IIP), International Association of Quantitative Finance (IAQF), Global Risk Institute (GRI), Center for Advanced Financial Studies at the University of Waterloo, and the Institute for Leadership Education in Engineering (iLead) at the University of Toronto. He is one of the founders of the Professional Risk Management International Association (PRMIA) and of RiskLab, initiated at the University of Toronto.

He holds an M.A.Sc. and Ph.D. in Chemical Engineering from the University of Toronto and was a Post-Doctoral fellow at the Centre for Management of Technology and Entrepreneurship. His B.A.Sc. is in Chemical Engineering from Universidad Autonoma Metropolitana, in Mexico City, where he was awarded in 2015 the recognition of Distinguished Alumni.

d1g1t Secures Series A Round to Fund the Growth of its Enterprise Wealth Management Platform

CAD $9M investment to support build-out of enterprise portfolio management, analytics and client servicing tools for global wealth management industry

TORONTO — 15 November 2018 — d1g1t Inc., the enterprise financial technology company serving the wealth management industry, announced that it has closed its second round, Series A financing to fund the continued growth of its enterprise digital wealth management platform. Powered by advanced analytics and risk management tools, the d1g1t platform offers transparent portfolio management services to professional advisors and their individual investors.

d1g1t has raised in excess of CAD $9 million over two private investment rounds lead by Purpose Financial, which is headed by Som Seif and backed by the Ontario Municipal Pension Retirement System (OMERS). Other investors in d1g1t include highly-regarded Fintech investors Extreme Venture Partners and Portag3, as well as a distinguished group of angel investors and d1g1t clients.

Through an innovative cloud-based technology platform, d1g1t delivers to financial advisers and their clients greater transparency and enhanced communication that generates trust, as well as an enriched client experience. Its advanced enterprise-wide portfolio and client management capabilities enable advisors to better manage their portfolios and provide their clients with sound investment decision support based on individualized goal-based planning tools, sound risk management and investment analytics.

The d1g1t enterprise wealth management platform is now going live with four clients, responsible for managing an approximately CAD $13 billion of assets under management (AUM) for over 5,000 households.

“The wealth management industry has been underserved by modern technology,” said Dr Dan Rosen, co-founder and CEO of d1g1t. “We have engineered the d1g1t platform to empower advisors to provide proven, transparent, value-added services built around client goals, a richer customized experience for their clients, and stronger client relationships based on long-term trust. Technology, analytics, Big Data and AI will have tremendous impact on the wealth management industry, but will not eliminate the need for human advisors. Instead, they will dramatically improve the services that these advisors provide to their clients.”

The end-to-end platform allows advisors to focus on their client needs and scale the business by uniquely integrating the entire client management lifecycle from client onboarding and financial and investment planning, to portfolio and client monitoring, portfolio rebalancing, trading and compliance.

d1g1t is co-founded by veteran Fintech entrepreneurs, Dan Rosen, Philippe Rouanet and Benoit Fleury, who previously co-founded R² Financial Technologies, (acquired by S&P Capital IQ) and before that were senior executives of Algorithmics Inc. (acquired by IBM). Originally incubated at the prestigious Fields Institute in Toronto, the company has put together one of the strongest financial engineering teams in the industry to build and support the d1g1t platform.

Purpose Financial is both a lead investor in d1g1t and a client. Its Purpose Advisory Solutions platform has been working with the d1g1t team for the last 12 months, as one of the four early development clients.

“We’re excited to support d1g1t in its roadmap as we feel our industry has done little to invest in technology to support advisors and allow them to optimize their portfolio strategies and client experience,” said Som Seif, CEO of Purpose. “d1g1t provides an unparalleled end-to-end platform to run a modern advisory business which enables advisors to manage much bigger books more efficiently. Advisors and business leaders can now manage their business real-time through business intelligence and continuity reports, advisors can focus on value added activities, and their families and clients can get full transparency through an integrated client experience and modern reporting.”

To learn more please visit: https://www.d1g1t.com.

About d1g1t Inc.

d1g1t provides a new digital end-to-end wealth management platform powered by sophisticated analytics and risk management tools that offers transparent portfolio management services to professional advisers and their individual investors. Headquartered in Toronto, the company is founded by an experienced team of financial technology experts who have developed some of the leading portfolio systems for banks, institutional asset managers, hedge funds, pension funds, insurance companies, and regulators around the world.

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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Sushi DAO Head Chef Served With SEC Subpoena

March 22, 2023

CoinDesk | Nikhilesh De, Oliver Knight | March 22, 2023 Sushi DAO and Head Chef Jared Grey were served with a subpoena by the U.S. Securities and Exchange Commission, the decentralized autonomous organization revealed Tuesday. Grey proposed creating a "Sushi DAO Legal Defense Fund" in a forum post, saying it would "cover legal costs for core contributors." The proposal recommends making $3 million in tether (USDT) available for core contributors, with another $1 million worth of USDT available in case the initial $3 million are used up. The sushi token dropped 5.5% on the news. One of the initial comments on the forum post asked how the DAO known as Sushi was subpoenaed, with the user saying they did not receive it despite being a member of the DAO. "We’re cooperating with the SEC. We do not intend to comment publicly on ongoing investigations or other legal matters," the forum post said. Continue to the full article --> here The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to ...
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Some Exciting Fintech Stats (2023-2025)

March 21, 2023

Exploding Topics | Josh Howarth | Jan 20, 2023 The fintech space is making fast strides across many financial sectors, including consumer and B2B.  Fintech investment and consumer adoption are clearly on the rise. But to what extent? And where is this industry headed?  This list has you covered with a wide range of key, up-to-date financial technology (fintech) statistics. Fintech Industry Size: The fintech industry is worth approximately $180 billion (Deloitte) Global fintech industry revenue has nearly doubled since 2017 (Deloitte) There are currently over 26,000 fintech startups worldwide. This figure has grown dramatically over the past few years (up from only around 12,000 fintech startups in 2019). See:  KPMG: Canadian Fintech Investment Drops in 2022, Mentality Shift to ‘Sensible’ Growth Investment: Fintech industry investment has increased 3.5x since 2015 (KPMG) In 2012, investment in fintech totaled $4 billion.  By the end of 2021, fintech investment reached $210 billion. Venture capital distributions by sector funding: #1 Capital markets $8.07 billion #2 Payments $6.03 billion #3 Wealth management $5.43 billion #4 Digital lending $3.97 billion #5 SMB $3.36 billion #6 Banking $3.27 billion #7 Real estate $2.42 billion #8 Insurance $2.30 billion Adoption: 90% of Chinese citizens use fintech banking, ...
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CFPB Issues a Request For Information on “Data brokers”

March 20, 2023

CFPB | Mar 15, 2023 The Consumer Financial Protection Bureau (CFPB) issued a request for information on “data brokers,” “an umbrella term to describe firms that collect, aggregate, sell, resell, license, or otherwise share consumers’ personal information with other parties. See:  Davos: Cooperation in a Fragmented World: In Data We Trust The CFPB is looking to better understand the “scope and breadth of data brokers’ business practices and the impact of those practices on the marketplace and peoples’ daily lives,” especially in relation to credit reporting and the requirements and intentions of the Fair Credit Reporting Act. Continue to view the announcement --> here Download the 13 page PDF RIF --> here The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech ...
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BoC and Group of Central Banks Join Fed in New Liquidity Measures to Ease Banking Turmoil

March 20, 2023

Reuters | Stefania Spezzati, Oliver Hirt and John O'Donnell | Mar 19, 2023 Move follows Swiss rescue of Credit Suisse and signals depth of concern over the global financial system Some of the world’s largest central banks came together on Sunday to stop a banking crisis from spreading as Swiss authorities persuaded UBS Group AG to buy rival Credit Suisse Group AG in a historic deal. UBS will pay 3 billion Swiss francs (US$3.23 billion) for 167-year-old Credit Suisse and assume up to US$5.4 billion in losses in a deal backed by a massive Swiss guarantee and expected to close by the end of 2023. Soon after the announcement late on March 19, the U.S. Federal Reserve, the Bank of Canada, European Central Bank and other major central banks came out with statements to reassure markets that have been walloped by a banking crisis that started with the collapse of two regional U.S. banks earlier this month.  The Fed said it had joined with central banks in Canada, England, Japan, the EU and Switzerland in a coordinated action to enhance market liquidity. The banks said they would start offering daily loans in dollars to their banks to avert stress in ...
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OpenAI and Stripe Announce Partnership to Monetize OpenAI’s Flagship Products

March 20, 2023

Stripe | March 15, 2023 Stripe, a financial infrastructure platform for businesses, today announced OpenAI has chosen Stripe to power payments as it moves to commercialize its groundbreaking ChatGPT and DALL·E generative AI technologies. Powering OpenAI with Stripe:  OpenAI is working with Stripe to commercialize its generative AI technology. Using Stripe’s suite of products, OpenAI was able to launch a global payments system for multiple product lines in a matter of weeks. See:  Human vs Machine’s Tug-of-War: Stockmarket Automation Lessons GPT-3: Stripe has long used artificial intelligence to enhance its products and experiences for users, including to help users manage fraud and increase conversion rates. Last year, Stripe worked with Microsoft’s Azure OpenAI team to implement GPT-3 for Stripe Support, which is helping agents identify quicker resolution paths for the many users they interact with each week. Seventy-five percent of the leading generative AI companies have signed up with Stripe to go to market quickly, scale with compliance in mind, and bring their products to many more users worldwide. They include OpenAI, Runway, Diagram, and Moonbeam. GPT-4: After joining the GPT-4 beta in January, Stripe identified a range of ways to use the technology to streamline operations and help users ...
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Top 5 Cloud-based Solutions to Help HR Leverage Employee Engagement

March 20, 2023

March 20, 2023 Cloud-based solutions utilize live data analysis to equip your HR managers with vital resources that can enhance staff involvement. These solutions also enable your HR team to create personalized development plans for each employee, empowering them to take ownership of their career paths and achieve their professional goals. Incorporating the following cloud-based solutions in your HR department can significantly improve employee satisfaction and boost company performance. This article will examine 5 cloud-based solutions to help HR leverage employee engagement: 1. Video conferencing tools Video conferencing tools are cloud-based solutions that have become increasingly popular as organizations look for ways to improve and maintain employee engagement and collaboration in remote work environments. These tools effectively allow your HR department to connect with employees regardless of location, enabling better communication, engagement and teamwork. They also allow the HR team to hold meetings, conduct interviews, and even organize virtual events, such as team-building activities, without being in the same physical location. These tools can enable you to easily communicate updates on company policies and procedures, discuss career development opportunities, and offer feedback on employee performance. 2. Digital signage software Cloud-based digital signage involves utilizing a digital signage system hosted on ...
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How to Research the Market for a Franchise Opportunity

March 18, 2023

March 18, 2023 Starting a business from scratch can be an extremely daunting and burdensome process, especially for aspiring entrepreneurs. Fortunately, there is another option – franchising. Franchising provides many advantages such as buying into an established system with proven success metrics and reduced risk of failure due to training, support systems, and brand recognition. Before taking the leap into becoming part of a franchise, however, it’s important to thoroughly research the market to ensure you get the best value out of your chosen opportunity. Here we will explore some key steps in researching the market for a franchise opportunity so that you can make informed decisions about what kind of venture you want to undertake. Identify the Local Market for Your Potential Franchise Identification of the local market for a potential franchise is an essential step in the research process. Aspiring entrepreneurs should take time to consider the characteristics of their area, including economic and demographic trends, the competitiveness of the industry they are considering entering, and consumer behavior. Knowledgeable entrepreneurs should come to fully understand the needs of their prospective customers and how those needs compare to existing offerings within the market. It is important to become comfortable ...
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Large U.S. Incumbent Financial Institutions Inject $30-billion in First Republic Bank to Avert Crisis

March 17, 2023

The Globe and Mail | Tim Kiladze and Stefanie Marotta | March 17, 2023 The United States’ largest financial institutions have agreed to deposit US$30-billion in First Republic Bank, an unconventional private-sector rescue designed to shore up confidence in the financial system and contain an emerging crisis. The agreement was brokered by the U.S. government, but is funded by 11 of the country’s largest lenders and investment banks. Bank of America, Citigroup, JP Morgan Chase and Wells Fargo, known as the Big Four U.S. banks, are leading the effort with US$5-billion each. It is an unusual approach. The banks appear keen on testing mechanisms that aren’t as extreme as full-blown takeovers. San Francisco-based First Republic is caught in the fallout from Silicon Valley Bank’s collapse last Friday. Its shares have plummeted as much as 70 per cent over the past week. Much like SVB, First Republic has not reported any sudden loan losses or writedowns. But clients nervous about its stability have been pulling deposits and transferring them to larger institutions, something known as a flight to quality. See:  European Regulators Condemn US ‘incompetence’ in SVB Collapse The U.S. government has already insured all deposits at SVB and Silvergate Bank, ...
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Several Fintechs Focused on Helping Renters Become Homeowners in Canada

March 17, 2023

Fintech.ca | Knowlton Thomas  | Mar 15, 2023 Several startups are at the forefront of “rent reporting” in Canada. Many also offer other features that aim to help renting Canadians gain a financial edge toward homeownership. Zenbase:  Zenbase was founded with the vision of “becoming a trusted partner in managing household finances while eliminating late fees and predatory financing.”  One of the primary features of Zenbase’s flexible platform is allowing users to split their rent into two payments, saving on stress and avoiding overdraft or late fees.  Last year, Zenbase secured $4 million in seed funding in a round led by Global Founders Capital. Chexy:  Launched in 2021, Chexy was the first Canadian payments experience that afforded tenants the possibility of paying home rent via plastic card. Users get cash-back and other rewards from spending on a card—both on rent and at Chexy partner brands—while also building credit.  Chexy believes building credit through rent is an important step toward home ownership. See:  Halal Mortgages Emerging in Canada’s Housing Market Requity Homes:  Founded in 2020, Toronto-based real estate platform Requity Homes operates a rent-to-own program that empowers Canadians to get one step closer to home ownership by allowing them to rent and save for their dream home ...
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European Regulators Condemn US ‘incompetence’ in SVB Collapse

March 17, 2023

FT | March 16 Europe’s financial regulators are furious at the handling of the Silicon Valley Bank collapse, privately accusing US authorities of tearing up a rule book for failed banks that they had helped to write. While the disapproval has yet to be conveyed in a formal setting, some of the region’s top policymakers are seething over the decision to cover all depositors at SVB, fearing it will undermine a globally agreed regime. One senior eurozone official described their shock at the “total and utter incompetence” of US authorities, particularly after a decade and a half of “long and boring meetings” with Americans advocating an end to bailouts. Europe’s supervisors are particularly irate at the US decision to break with its own standard of guaranteeing only the first $250,000 of deposits by invoking a “systemic risk exception” — despite claiming the California-based lender was too small to face rules aimed at preventing a rerun of the 2008 global financial crisis. A former senior UK policymaker who helped negotiate global standards for bank resolution described the SVB handling as a “disaster”. See:  Superintendent of Financial Institutions took further action on the Silicon Valley Bank Canadian Branch While the Federal Reserve ...
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