Financial Services Cluster

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  • 1. Toronto
    Financial Services Cluster
    Done by Claudia Carvajal
  • 2. A cluster is a concentration of companies and industries in the same geographic region which are interconnected in different levels such as:
    • Markets served
    • 3. Products produced
    • 4. Suppliers
    • 5. Trade associations
    • 6. Educational institutions
    What is a cluster?
  • 7. Clusters’ key success factors
    Strong Skill base
    Innovation and R & D capacity
    Presence of networks and partnerships
  • 8. Cluster structures
    Incubator
    Convergence Centre
    Accelerator
    Innovation Centre
    Centre of Excellence
  • 9. GTA Financial Services Cluster
    Research Organizations
    Banks
    Securities Services
    Insurance Companies
    Information Providers
    Outsourced Services
    Risk Capital Providers
    Investment Funds
    Computer & Communication Service Providers
  • 10. GTA Financial Services Cluster
    Toronto has a concentration of 1,700 financial services firms.
    3rd largest financial centre in North America
    The financial services sector employs approximately 130,000 workers
  • 11. Competing Clusters
    New York: Ranks # 1
    London: Ranks # 2
    Emerging clusters
    Dubai
    Hong Kong
  • 12. Employs nearly 515,000 workers in New York
    The insurance region has the largest share of regional financial services employment
    This cluster is comprised on four major sub-clusters:
    -Banking and Credit Activities
    -Securities and Investment Activities
    -Insurance
    -Funds
    NY Financial Services Cluster
  • 13. London is Europe’s financial capital
    Approximately 2,000 headquartered companies listed on the London markets
    London is the leader of foreign direct investment
    Helps with the development of other clusters such as advertising, legal services, and accounting
    London Financial Services Cluster
  • 14. Centennial College: first institution to offer Islamic Finance
    CIBC: first bank in Canada to offer mobile banking
    CFSI Innovators Roundtable (March 10, 2010)
    Mobile Financial Services Summit (Singapore)
    GTA News and Events
  • 15. Banks will upgrade their ATMs’ operating systems to Microsoft
    Codes on Credit Cards to avoid fraud
    Remote-Deposit Capture
    Cluster Innovations
  • 16. Visit My Blog
    http://claucarvajal.wordpress.com/
    Thanks!