Great piece. We are well banked in many regards and the data would reinforce that.
On the other hand, it stands to reason that there are big nascent opportunities in the sector, that will largely be driven by competition and globalization.
The UK government has done a good job building their fintech industry on offence. Last number I saw was 13,000 jobs created in London.
Many US companies have engineering offices in Toronto. Those companies largely build products to serve only US customers.
What you say is true. The opportunities are big. And a handful of risk-averse banks, who take forever make decisions, combined with a regulatory system that's just as risk-averse and slow to adapt, doesn't help us take advantage of those opportunities.
Great piece. We are well banked in many regards and the data would reinforce that.
On the other hand, it stands to reason that there are big nascent opportunities in the sector, that will largely be driven by competition and globalization.
The UK government has done a good job building their fintech industry on offence. Last number I saw was 13,000 jobs created in London.
Many US companies have engineering offices in Toronto. Those companies largely build products to serve only US customers.
This is akin to mining oil but not refining it.
Thanks for reading!
What you say is true. The opportunities are big. And a handful of risk-averse banks, who take forever make decisions, combined with a regulatory system that's just as risk-averse and slow to adapt, doesn't help us take advantage of those opportunities.
We could be doing better for sure.