The Millennials and the Canadian fintech opportunity
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The Millennials and the Canadian fintech opportunity Julien Brault, CEO / @julienbrault / [email protected] / hardbacon.ca
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Transcript of The Millennials and the Canadian fintech opportunity
The Millennials and the Canadian fintech
opportunity
Julien Brault, CEO / @julienbrault / [email protected] / hardbacon.ca
From January 2017 onwards, a wave of Canadians investors will transfer their money to
self-service investment providers thanks to a new regulation called CRM2
Many Canadians are going to leave their advisors…
Meanwhile, young Canadians won’t even look for one.
Only 17% of millennials need to meet a live person to be comfortable with financial
advices
Millenials check their phone 45 times
a day
73% of Millenials would rather go to
the dentist than talk to their bank
17% 73% 45%
Millennials don’t want (or can’t) buy houses
Since 2008, CHMC maximum mortgage amortization period went from 40 years to 25
Robo-advisors startups are multiplying in Canada
Canadian brokerages are waking up
Canadian discounts brokers are ripe for disruptions
Interactive Brokers, Virtual Brokers, Questrade launched APIs
US-based Robinhood, which offer 0$ commission trading in US and Australia, is a threat to Canadian status quo
Stock market simulators as a way to disrupt the canadian brokerage market
Online banks are finally catching up in Canada
Canadians banks are betting on startups
● CIBC launched CIBC Live Lab, which is located in Mars Discovery District in Toronto
● CIBC have a partnership with Thinking Capital
● Scotiabank invested in Kabbage
● National Bank invested in Lending Club
● BMO created a fintech program with the Digital Media Zone in Toronto
Playing catch-up
● Canadian fintech raised more than $1 billion in funding since 2010
● In 2015 alone, US fintech raised 9,9 billions (US$7.3 G)
● In 2015, UK fintech raised 894 millions ( £524 M)
