Developments in Canada clearly show
the emphasis on the wider of appeal with
Fin Tech investment growing 75% to $22.3
billion in 2015 and 1,100 Fin Tech deals being
announced in that period.
In spite of a differing focus from both the
EMEA and Americas, the regions are agreed
on the collaboration culture that seems to
be at the centre of Fin Tech developments
across the globe.
Major financial institutions must come
together to develop standards for financial
technologies and their widespread implementation, banks are exploring new forms of
disruptive technology through partnerships
with Fin Tech firms and their own innovation.
Sunny Parikh director of the Fin Tech
Innovation Lab in New York City suggests
that all of the parties involved are crucial for
a successful Fin Tech.
“In the city this has created a strong
concentration of customers and innovators
who have a strong understanding of financial
services and technology
“This has created a culture of collaboration
between customers, partners, and innova-
tors,” said Parikh.
The US has looked at mirroring the regulatory support which has been seen in the
UK in recent months, by introducing a bill
whereby regulators will work with Fin Tech
companies by setting up their own internal
This was partly in response to US companies applying to the UK ‘sandbox’ forcing the
US to act accordingly. As such US regulators
have been said to be stepping up their game
as the Fin Tech world moves forward.
and the US continued to dominate
the sector with
Fin Tech deals throughout the year.
Fin Tech investment grew
“Look at companies like Hootsuite
and Shopify, these are all Canadian
Fin Tech companies.”
—ADAM NANJEE, GROUP HEAD OF FINANCIAL TECHNOLOGY
AND INNOVATION, MARS DISCOVERY DISTRICT.