FinTech | Mind To Machine Connect

Why our research program

What Is FinTech?

FinTech, short for Financial Technology, is a broad term that refers to the innovative use of technology in the design and delivery of financial services. It encompasses a wide range of financial activities, products, and services that leverage technology to make financial transactions more efficient, accessible, and convenient. FinTech has disrupted traditional financial services by making them more accessible, cost-effective, and user-friendly. It has also spurred innovation in the financial industry and continues to evolve rapidly, shaping the future of finance.

How It Helps

What Problems FinTech Solves?

Financial Inclusion

FinTech extends financial services to underserved populations, promoting financial inclusion.

Costly Cross-Border Transactions

FinTech offers affordable and efficient international money transfers, reducing transaction costs.

Limited Access to Credit

FinTech uses alternative data for credit scoring, expanding access to credit.

Complex Investing

FinTech simplifies investment with robo-advisors, making investing accessible and cost-effective.

Inefficient Banking Processes

FinTech streamlines banking operations, enhancing user experiences.

Fraud Prevention

FinTech employs advanced security measures to protect against cyberattacks and financial fraud.

What It Includes

Program Components

Research and Development (R&D) Support

Allocate funding for research and development of innovative cleantech solutions, fostering technological advancements in energy, waste management, and more.

Financial Incentives

Provide tax incentives, grants, and subsidies to businesses and individuals adopting cleantech solutions, making them more economically viable.

Education and Awareness Campaigns

Conduct public awareness campaigns to educate citizens about the benefits of cleantech adoption and sustainable practices.

Regulatory Framework Enhancement

Develop and update regulations that encourage the use of cleantech solutions and set emission reduction targets for industries.

Collaboration with Private Sector

Forge partnerships with private companies to accelerate the deployment of cleantech solutions and leverage their expertise.

Capacity Building

Offer training programs, workshops, and certifications to develop a skilled workforce capable of designing, implementing, and maintaining cleantech systems.

FinTech Research Projects

Collaboration with Canadian financial institutions, regulatory bodies, and FinTech startups can help drive these research projects. These initiatives can contribute significantly to Canada's FinTech ecosystem, providing innovative solutions and addressing the unique financial needs of Canadian consumers and businesses.

Credit Scoring for Canadian Consumers

Develop advanced credit scoring models using machine learning to assess the creditworthiness of Canadian consumers, especially those with thin or no credit histories.

Fraud Detection in Canadian Banking

Create real-time fraud detection systems for Canadian banks, leveraging AI to identify and prevent fraudulent transactions while minimizing false positives.

Personalized Financial Advice for Canadians

Develop AI-driven robo-advisors that provide personalized investment and financial planning advice tailored to the unique financial goals and regulatory considerations of Canadian investors.

Mortgage Risk Assessment

Build predictive models that assess mortgage risk factors specific to the Canadian housing market, helping lenders make informed decisions about mortgage approvals.

Cryptocurrency Regulation and Monitoring

Develop AI tools for monitoring cryptocurrency transactions to ensure compliance with Canadian regulations and prevent money laundering and fraud in the crypto space.

Canadian Pension Plan Optimization

Utilize data science and AI to optimize the Canadian Pension Plan (CPP) for retirees, considering factors like life expectancy, investment returns, and inflation.

Insurance Claims Processing

Implement AI and natural language processing (NLP) to streamline and automate insurance claims processing for Canadian insurance companies, improving efficiency and customer satisfaction.

Regulatory Compliance Monitoring

Develop AI-based compliance monitoring systems to help Canadian financial institutions stay up-to-date with changing regulations and reduce compliance risks.

Sustainable Finance Analysis

Use data analytics and machine learning to assess the environmental and social impact of investments in Canadian sustainable finance initiatives, supporting ethical and responsible investing.

Trading Algorithms for Canadian Stock Markets

Create advanced trading algorithms for the Toronto Stock Exchange (TSX) and other Canadian stock markets, optimizing execution strategies for investors and traders.

Personal Finance Management Apps for Canadians

Develop AI-powered personal finance management apps that help Canadians track their spending, save money, and invest wisely, considering Canada-specific financial products and tax regulations.

AI-Enhanced Customer Support for Canadian Banks

Implement chatbots and virtual assistants that can provide efficient and localized customer support for Canadian banking customers, addressing common inquiries and tasks.

Employer Profiles

FinTech Employers

Revolutionizing the financial landscape with fintech innovations, driving inclusivity, efficiency, and economic empowerment for a better and more equitable future. These are the Canadian based employers that are providing jobs in FinTech industry:

KOHO

KOHO is a financial services company aiming to build better financial products for Canadians. Partnering with companies like Mastercard, its product proposition centers around a virtual card and a bank account that provides users various perks when they use it. They also offer opportunities for customers to improve their credit score for a small monthly fee, something that is particularly useful for Canadians with a poor credit history.

Current Jobs

Flexiti

Founded in 2013, Flexiti is a point-of-sale fintech leader on a mission to make high-ticket purchases more convenient. Its extensive network spans over 8,000 retail locations and ecommerce sites including notable brands like The Brick, Wayfair, Sleep Country, Staples, and Birks. The company's sales financing platform has been a pioneer in flexible financing, earning recognition as one of Canada's fastest-growing fintech firms.

Current Jobs

Clearco

Clearco is a Toronto-based ecommerce investor that provides equity-free capital solutions for ecommerce businesses. Founders who receive funding from Clearco benefit from real-time access to a vast partner network, as well as valuable insights and data tools that facilitate business scaling. Clearco has provided significant support for female founders and women-led businesses, funding 25 times more than the average traditional venture capital firm.

Current Jobs

Nuvei

Nuvei is a Canadian fintech payments company that offers the tools that so-called top-tier enterprises need to embrace cutting-edge payment solutions, comprehensive payout choices, and robust financial services such as card issuing, banking, risk management and fraud prevention. Nuvei serves over 200 markets worldwide including local acquiring in 45+ markets, supporting 150 currencies, and offering 580+ alternative payment methods.

Current Jobs

WealthSimple

Wealthsimple is an online investment management firm led by a team of world-class financial experts which invests clients’ money in a “globally diversified” portfolio of low-cost index funds. The company draws on technology to ensure the best possible returns and all its investment tools are available at the click of a button, contributing towards the growing democratization of investment. Wealthsimple also offers retirement plans for businesses, making it easier for employers to provide retirement savings options for their employees.

Current Jobs