Canadian Cities Lag Behind Their Global Peers In Fintech Financing: Accenture

Today, Accenture has launched its Canadian fintech report titled, “Collaborating to win in Canada’s Fintech ecosystem.”

In a nutshell, the benchmarking analysis found that the four Canadian hubs – Calgary, Montreal, Toronto and Vancouver – are already benefitting from the basic factors necessary to achieve international leadership, major hubs may still have room to build stronger reputations as world-class fintech communities. Canadian tech hubs might achieve this by fostering further innovation, collaboration and international expansion.

Of the five key benchmarks evaluated, Canadian hubs scored lowest in fintech activity and financing. Canadian cities and governments should consider continued promotion of regional fintech investment and the attraction of VC’s to increase competitiveness in this area. Globally recognized fintech hubs such as London and Singapore – leaders according to the benchmarking study – have achieved stronger results in part by outlining national fintech strategies.

This report is worth a read as it is very interesting.

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