In a piece published in both the Financial Post and the Ivey Business Journal, Michael King explains the fintech wave arguably started decades ago but the global financial crisis turned this swell into a tsunami. Technology, the loss of trust and the arrival of mobile-first millennials are driving this paradigm shift in financial services.
King argues, Canada needs to get on board and develop a national strategy to grow our local fintech industry. Looking towards Australia could offer some guidance.
"When it comes to the fintech tsunami hitting our economies, the similarities end there. Australia has an emergency preparedness plan, and Canada does not."
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