Fintechs Canada launches to drive innovation in the country’s fintech sector
An association of Canadian fintech firms and global financial institutions has launched to push for a “whole-of-government approach” to foster the growth and development of the fintech sector in Canada.
Fintechs Canada members. Image source: Fintechs Canada
Fintechs Canada, formerly known as Paytechs of Canada, is a not-for-profit association looking to work with policymakers to encourage and promote payments modernisation, open banking, the digitalisation of money and the modernisation of anti-money laundering and terrorist financing law.
The group says it will work to break down barriers to competition and innovation to offer greater choice for Canadians, ensuring the country’s fintech sector keeps up with the rest of the world.
Fintechs Canada has also tasked itself with educating the public and raising awareness of the benefits of the wider Canadian fintech sector.
The association’s membership ranges from global heavyweights such as Mastercard, Square and Wise to firms such as Koho, Paysend and Wealthsimple.
Fintechs Canada’s board leadership represents the diversity of the sector, with payments, lending, data aggregation, blockchain and banking represented. The board includes the CEOs of Nanopay, Borrowell and Everlink, among others.
“With new regulation needed, slow progress on innovation policy and unbalanced representation in Ottawa, a unified voice for fintech in Canada has never been more important,” the association says.
