Ontario Newsroom

Ontario Improving the Delivery of Financial Services Technology

Bulletin

Ontario Improving the Delivery of Financial Services Technology

New Team to Help Inform FinTech Strategy

Ministry of Finance

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 financial technology (fintech) sector.

Over the coming months, the following individuals will continue 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:

  • Janet Bannister, General Partner, Real Ventures
  • Christine Day, Chief Information Officer, Questrade Financial Group
  • Janet L. Ecker, Former President & CEO, Toronto Financial Services Alliance and Board Member, Ontario Centres of Excellence
  • Adam Felesky, President and Managing Partner, Portag3 Ventures 
  • Simon Hodgett, Partner, Technology, Osler, Hoskin & Harcourt LLP
  • Maureen Jensen, Chair and CEO, Ontario Securities Commission
  • Roy Kao, Senior Advisor, Finance and Commerce, MaRS Discovery District
  • Cory Mulvihill, Lead Executive, Policy & Public Affairs, MaRS Discovery District
  • Jennifer Reynolds, President & CEO, Toronto Financial Services Alliance
  • Robert M. Scavone, Co-Chair, Securitization, Structuring and Derivatives, McMillan LLP
  • Michael Serbinis, Founder and CEO, League Inc.
  • Matthew Spoke, CEO, Nuco

Fintech represents the convergence of information technology and financial services and can include things like mobile payments and cybersecurity.

Enhancing Ontario's competitiveness in fintech is part of our plan to create jobs, grow our economy and help people in their everyday lives.

Quick Facts

  • Ontario has a strong financial services sector, generating over $63 billion in GDP and employing more than 409,000 people.
  • Ontario ranks second in North America in the number of information and communications technology companies.
  • Launched in October 2016, the Ontario Securities Commission’s LaunchPad team has helped fintech businesses navigate regulatory requirements by engaging with the fintech community.
  • Ontario has approximately 140 fintech companies, focused in Toronto, Waterloo and Ottawa.
  • The 2017 Budget announced measures to enhance cybersecurity in the province’s financial institutions and support the cybersecurity technology sector, which are important to fintech businesses.

Additional Resources

Quotes

Charles Sousa

“Ontario's expert panel plays a critical role in strengthening our leadership position in financial services and technology‎ by developing a modern and innovative fintech strategy. Unlocking the potential of technology helps create more jobs, increase business investment to grow our economy, and ensure Ontario remains at the forefront of innovation.”

Charles Sousa

Minister of Finance

Brad Duguid

“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.”

Brad Duguid

Minister of Economic Development and Growth

Media Contacts

Share

Tags

Business and Economy Government