The banking sector is rapidly accelerating innovation, introducing Open Data, Risk Partnerships, Collection’s Technology, and more.
As banks continue to grow their digital footprint, fintech partnerships and innovations have sprung up to better service small and medium-sized businesses and consumers. However, certain types of partnerships between banks and fintechs were restricted by the Bank Act, making it difficult for them to work together.
That changed in 2018 when the amendments to the Act removed barriers that restricted certain types of partnerships between banks and fintechs.
This led to the creation of the Bankers Summit, an annual event that explores the business of fintech in the banking sector, bringing together over 500 banks, fintechs, and industry experts to discuss how the sector can further break down incumbent barriers to better serve Canadians.
The event will seek answers to questions like: What does the bank of the future look like, and how does it interact with fintechs to accelerate innovation?
The Bankers Summit is about the business of partnership and explores how the sector can further break down incumbent barriers to better service Canadians. It’s a chance for industry leaders to share their knowledge and experience, network, and participate in the future of banking.
The Summit will host speakers from a wide array of companies across Canada who will be taking a deep dive into key policy and business topics across different sectors.
Jeff Adamson, co-founder of Calgary-based Neo Financial, and Jonah Chininga, CEO and co-founder of Red Deer fintech Woveo, will be among the speakers at the event.
Other Canadian fintechs, including Wealthsimple and Walnut, will also be represented.
The Bankers Summit takes place in Toronto on May 17 at the MaRS Discovery District. The event is hosted by The Canadian Lenders Association, which represents technology and business models that herald the future of lending in Canada—such as Montreal’s Hardbacon.
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