“Building a Fin Tech company in the United
States or in Europe you are really building
things on the fringes, either for the top or the
bottom,” said Vogel.
“In Mexico there is an opportunity to im-
pact around 60-80 million people.”
Adam Nanjee, group head of financial
technology and innovation, MaRS Discovery
District, concured with Vogel by suggesting
that Fin Tech developments in the region
extend beyond traditional securities services
“Look at companies like Hootsuite and
Shopify, these are all Canadian Fin Tech com-
panies,” he said.
“We had PayPal coming to us a couple of
years ago telling us that they see the growth
in Canadian Fin Tech.
“Canada is in such an inflection point. If
Fin Tech infrastructures are successful here
then they move on to San Francisco, to London and if they are not successful they can be
pushed out without too much notice.
“In Mexico there is an opportunity to
impact around 60-80 million people.”
—Adam Nanjee, group head of financial technology and innovation,
MaRS Discovery District.
Canada, Mexico and the US were the main topics of conversation when it came the Americas at this year’s Sibos. For North America - Fin Tech investment grew 44% to $14.8 billion in 2015 and the US continued to dominate the sector with 667 Fin Tech deals throughout the year. While in Europe it was suggested that
Fin Tech will benefit segments of banking such as payments, settlement and clearing, in the Americas, Daniel Vogel co-founder
& president of Bitso stated that the emphasis from Mexico’s
Fin Tech community is on the wider benefits of the technology.
NORTH AMERICA AND SOUTH AMERICA
box will now move on to testing and that
opportunities of distributed ledger technology (DLT) could be applied to specific areas
of the industry.
“DLT presents real opportunities in the
regulatory space… opportunities such as
helping firms meet Know Your Customer or
anti-money laundering requirements more
efficiently,” Woolard says.
With regulatory support and a strong
demand, the EMEA region is embracing the
Fin Tech revolution sweeping the industry.