News & Media Releases
World Economic Forum in Davos needs to foster spirit of openness on free trade by BMO CEO, Darryl White
Next week, businesses, government leaders and researchers will be participating in the annual World Economic Forum in Davos, where the topic is "Creating a Shared Future in a Fractured World." This gathering in Europe takes place while the next round of North American free-trade agreement negotiations - widely expected to be one of the most consequential and where a U.S. termination is a real risk - occurs in Montreal.
Time to let the world know Canada is a financial giant
While the prominence of Canada's financial sector continues to grow, it is noteworthy that it is also very often underestimated on the international stage. The fact that Toronto is the second-largest financial centre in North America and the 7th most significant globally generally comes as a surprise to people outside of Canada.
Financial Services Sector plays key role in helping Canada's small and medium sizes business prosper and grow
Small and medium enterprises (SMEs) make up 99.7 per cent of all businesses in Canada and they often rely on financial institutions to provide additional services beyond core banking and insurance functions to help them expand their markets, reduce volatility, manage costs and reduce risks, according to the Conference Board of Canada's fifth annual report card on the financial services sector released today.
Fintech helping Canada power its way from being an exporter of raw materials and manufactured goods to a service export powerhouse
As Canadians and Canadian firms work to develop global-ready products and services, exporting of financial technology, or fintech, is one of the country's strong points. According to research by the Conference Board of Canada, even two years ago finance and insurance services were Canada's largest and fastest growing services sold internationally. Fintech is helping Canada power its way into moving from being an exporter of raw materials and manufactured goods to a service export powerhouse. Already by 2015, services accounted for 44 per cent of Canada's exports and 43 per cent of foreign affiliate sales.
Ontario Improving the Delivery of Financial Services Technology
Ontario has established a team of financial services and information technology experts, including TFSA's President & CEO Jennifer Reynolds, with the goal of strengthening consumer protection and helping promote business growth and development in the financial technology (fintech) sector. Over the coming months, these 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.
Sibos 2017: Toronto Financial Services Alliance Welcomes Sibos to Toronto
Sibos, an international business forum for the global financial community that brings together financial leaders from around the world to network, collaborate and address issues and changes impacting the industry is returning to Toronto. Organized by SWIFT, this year's conference, which runs from October 16-19, titled "Building for the Future," will examine the industry's biggest issues including Cybersecurity, Artificial Intelligence (AI), the impact of geopolitical and regulatory shifts, data and identity, and Financial Technology (Fintech). As a top ten international finance centre and one of the fastest growing Fintech hubs in the world, with an investment rate exceeding that of Silicon Valley, New York City and London in the last six years, Toronto was a natural choice to host Sibos 2017.
Full Press Release
Find out more about the Canadian FinTech scene at Sibos 2017
To help some of the best local FinTechs showcase their solutions to a global audience, the Canada Lounge at the Metro Toronto Convention Centre (MTCC) will host 32 Canadian FinTech startups throughout Sibos week. The Canada Lounge will be located in the Discover Zone (Level 600). The startups will rotate throughout the week. Each day, there will be eight startups present in the Canadian FinTech Corner section of the Canada Lounge. Delegates will be able to interact with them to learn more about their offering, and how they may be able to help your business.
New Program Helps Ontario Business Connect with the Right Talent
A new online portal for Ontario employers and persons with disabilities seeking employment, was launched by the Honorable David Onley, the Ontario Chamber of Commerce and partners of the Discover Ability Network. With the support of industry partners, including the TFSA, Discover Ability, is a data-rich job-matching technology platform powered by Magnet and funded by the Ontario government to connect potential employees directly with Ontario employers.
Liberals target students' skills gap with roll out of educational placement cash
One of the largest programs in the country that has caught the attention of government officials comes out of Toronto where a group of 14 financial services companies have teamed with seven schools to provide educational work opportunities. None want federal cash for wages; instead, the Toronto Financial Services Alliance, which is overseeing the program, is looking for federal cash to scale up. The value for each company is attracting and recruiting students from "STEM" disciplines: science, technology, engineering and mathematics fields.
TFSA Update on new Global Talent Stream
TFSA was pleased to host a roundtable earlier this year to provide coordinated feedback on behalf of the Financial Services (FS) sector on the federal government's new Global Skills Strategy announced last November. The recently announced Global Talent Stream of the Temporary Foreign Worker program incorporates some of the feedback provided in that session and follow-up communications. Read more about the Financial Services Sector input into the Global Talent Stream program.
Toronto Financial Services Alliance Announces New CEO
TFSA's Board of Directors today announced that Jennifer Reynolds will succeed Janet Ecker as CEO, effective October 2nd. Ms. Ecker announced her retirement in April this year. Ms. Reynolds is currently the CEO of Women in Capital Markets.
Canada’s Financial Services: Fueling Growth Since 1867. Happy Birthday Canada!
Canada's post-Confederation history, in many ways, is a history animated by financial services. Banks, insurance companies, stock exchanges, brokerages and credit unions, among others, have financed vast parts of the economy over the years - fueling growth within and beyond a country with enormous natural resources, vast geographies and a small population.
Learn more about Canada's financial services history
Strengthening Fintech Ecosystem Must Be a Top Priority for Financial Services Industry and Governments to Maintain Canada’s Global Position, TFSA Report Says
Strengthening the fintech ecosystem in the Toronto region must be an imperative for the country's financial services sector and governments in order to maintain and grow the region's international market position, according to a new report from the Toronto Financial Services Alliance (TFSA), researched and written by Accenture and McMillan LLP.
BNN Interview: Strengthening the fintech ecosystem in Toronto
TFSA President & CEO, Janet Ecker and Bob Vokes, managing director of financial services at Accenture, join BNN to talk about the TFSA's new report that shows the fintech ecosystem in Toronto must grow in order for Canada to remain competitive.
Toronto Financial Services Alliance Welcomes Head Office of Canada Infrastructure Bank
The Toronto Financial Services Alliance (TFSA) welcomes today's announcement that the head office of the Canada Infrastructure Bank (CIB) will be located in Toronto. The Government of Canada stated in their news release announcing the recruitment of leadership candidates for the CIB that Toronto had established a global reputation for excellence as a centre for infrastructure financing. The Bank will be set up to be able to finance infrastructure in all parts of Canada.
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