Ontario unveils FinTech strategy plans
Written by Anthony Strzalek
The Canadian province of Ontario has established a team of financial services and information technology experts with the goal of strengthening consumer protection and helping promote business growth and development in the FinTech sector.
Over the coming months, the experts will look to help shape a FinTech strategy that enhances Ontario's position as a global leader and promotes growth that produces jobs and investment in the province.
Ontario has a strong financial services sector, generating over $63 billion in GDP and employing more than 409,000 people. Ontario has approximately 140 FinTech companies, focused in Toronto, Waterloo and Ottawa.
Back in October 2016, the Ontario Securities Commission unveiled its LaunchPad team which looks to help FinTech businesses navigate regulatory requirements.
Brad Duguid, Ontario’s minister of economic development and growth, said: “It is essential to develop a new strategy to help Ontario’s FinTech entrepreneurs’ access quality data and resources.
“The invaluable participation of leaders in the sector will foster the environment FinTech firms need to grow and prosper in our province. We look forward to the jobs, investment and economic growth that will result from this work.”