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GTA Financial Services Cluster<br />SaimaKassam<br />MRK625 / April 2010<br />http://saimakassam.wordpress.com<br />
What is a Cluster?<br />a “cluster” is defined by Porter as:<br />a concentration of companies and industries in a geograp...
Profile of the GTA Cluster<br />Home to the five largest banks and approx. 80% of foreign banks (operating in Toronto)<br ...
Profile of the GTA Cluster<br />Major players in the GTA’s financial services sector:<br />Banks<br />Credit Agencies<br /...
GTA – Educational Institutions<br />
Cluster Structures (GTA)<br />Center of Excellence<br />Toronto Financial Services Alliance (TFSA)<br />Business Incubator...
Direct Competition<br />New York<br />London<br />
New York Financial Services Cluster<br />Three major sub-clusters<br />Banking<br />Securities<br />Insurance<br />Concent...
London Financial Services Cluster<br />Located in the heart of downtown London<br />“World Financial Leader”<br />Driven b...
Innovations<br />Contactless technology<br />RFID technology<br />Zoompass<br />Mobile banking<br />“there’s an app for th...
Toronto in the News<br />CIBC the first Canadian bank to introduce banking app for mobile phones<br />Ontario budget to he...
GTA Financial Services Cluster<br />SaimaKassam<br />MRK625 / April 2010<br />http://saimakassam.wordpress.com<br />
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GTA Financial Services Cluster

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GTA Financial Services Cluster

  1. 1. GTA Financial Services Cluster<br />SaimaKassam<br />MRK625 / April 2010<br />http://saimakassam.wordpress.com<br />
  2. 2. What is a Cluster?<br />a “cluster” is defined by Porter as:<br />a concentration of companies and industries in a geographic region, which are interconnected by the markets they serve, and the products they produce, as well as the suppliers, trade associations and educational institutions<br />these geographic concentrations of economic activity have some competitive advantage, and thus (usually) exports<br />the change, over time, of a cluster, or group of clusters is best described by a system of innovation<br />
  3. 3. Profile of the GTA Cluster<br />Home to the five largest banks and approx. 80% of foreign banks (operating in Toronto)<br />Canada’s most prominent and world recognized stock exchange: the Toronto Stock Exchange (TSX)<br />High traffic area (100,000 people per day)<br />
  4. 4. Profile of the GTA Cluster<br />Major players in the GTA’s financial services sector:<br />Banks<br />Credit Agencies<br />Security Dealers<br />Insurance<br />
  5. 5. GTA – Educational Institutions<br />
  6. 6. Cluster Structures (GTA)<br />Center of Excellence<br />Toronto Financial Services Alliance (TFSA)<br />Business Incubator<br />Toronto Business Development Centre<br />Financial Literacy Portal<br />Financial Services Commission of Ontario (FSCO)<br />TMX Money Financial Portal<br />Toronto Stock Exchange (TSX)<br />
  7. 7. Direct Competition<br />New York<br />London<br />
  8. 8. New York Financial Services Cluster<br />Three major sub-clusters<br />Banking<br />Securities<br />Insurance<br />Concentration of employment<br />
  9. 9. London Financial Services Cluster<br />Located in the heart of downtown London<br />“World Financial Leader”<br />Driven by innovation<br />
  10. 10. Innovations<br />Contactless technology<br />RFID technology<br />Zoompass<br />Mobile banking<br />“there’s an app for that!”<br />
  11. 11. Toronto in the News<br />CIBC the first Canadian bank to introduce banking app for mobile phones<br />Ontario budget to help Toronto grow<br />
  12. 12. GTA Financial Services Cluster<br />SaimaKassam<br />MRK625 / April 2010<br />http://saimakassam.wordpress.com<br />

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