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The Millennials and the Canadian fintech opportunity

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Millennials expectations are reshaping the financial services landscape in Canada. While banks are adapting slowly, fintech startups are expanding at a rapide pace.

Published in: Economy & Finance
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The Millennials and the Canadian fintech opportunity

  1. 1. The Millennials and the Canadian fintech opportunity Julien Brault, CEO / @julienbrault / julien@hardbacon.ca / hardbacon.ca
  2. 2. 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
  3. 3. Many Canadians are going to leave their advisors… Meanwhile, young Canadians won’t even look for one.
  4. 4. 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%
  5. 5. Millennials don’t want (or can’t) buy houses Since 2008, CHMC maximum mortgage amortization period went from 40 years to 25
  6. 6. Robo-advisors startups are multiplying in Canada
  7. 7. Canadian brokerages are waking up
  8. 8. 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
  9. 9. Stock market simulators as a way to disrupt the canadian brokerage market
  10. 10. Online banks are finally catching up in Canada
  11. 11. 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
  12. 12. 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)
  13. 13. Thank you! Julien Brault, CEO / @julienbrault / julien@hardbacon.ca / hardbacon.ca

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