Vancouver Ranks 12th Globally As Fintech Hub

March 28, 2022 FinTech and Alternative Finance, Fintech Services, Innovation and Resources, Leadership, Productivity, Competition, Human Capital, Health, Research No comments

Techouver | Mar 31, 2021

Fintech in Canada map - Vancouver Ranks 12th Globally As Fintech Hub

As the Canadian fintech sector looks to rebound from challenges brought on by the pandemic, its future global strength will depend, in part, on the willingness and ability of all ecosystem players to foster innovation, collaborate and expand internationally.

A new report from Accenture titled Collaborating to Win in Canada’s Fintech Ecosystem benchmarks four Canadian technology hubs against 16 other leading and emerging fintech hubs around the world. Overall Canada performed well with Toronto ranking 8th, Vancouver 12th, Montreal 14th, and Calgary 16th out of 20.

The report also examines global investment growth trends across all hubs, noting that that Canada punches above its weight in terms of number of deals closed while total deal value is more subdued compared to leading global hubs.

See: Fintech industry research and reports

According to the report British Columbia is currently home to over 120 fintechs, with Vancouver itself fast becoming a well-rounded technology hub.

Robert Vokes, senior managing director and financial services lead at Accenture in Canada:

“Canada has much to learn and much to contribute to our global peers, including those who are developing open banking, digital identity and data portability solutions. Our ecosystem of Canadian fintechs, major financial institutions and policymakers are coming together to transform and reinvent business models that address the changing digital habits of Canadians – they are shaping and developing future standards that will support the industry while preserving the strength of our financial system.”

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NCFA Jan 2018 resize - Vancouver Ranks 12th Globally As Fintech Hub 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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