Financial Services Cluster

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Financial Services Cluster

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

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