Advancing the dialogue on the future of financial services
"FinTech has the potential to transform how Canadians access financial services. The findings and recommendations in our report will help regulators and policymakers create an environment that promotes FinTech innovation and growth in Canada."
Commissioner of Competition
The findings of the study are based on a review of publicly available information, as well as submissions from FinTech start-ups, incumbent financial institutions, industry experts, regulators and industry/consumer associations.
Throughout the market study, the Bureau conducted over 130 interviews, 13 outreach events, 10 information sessions and 9 international consultations.
In February 2017, the Bureau hosted a one-day workshop that brought together more than 230 participants from Canada and abroad to discuss the relationship between competition, innovation and regulation. Participants included entrepreneurs, representatives of established and new financial services organizations, domestic and international regulators, and members of the academic and legal communities.
On November 6, 2017, the Bureau published a draft version of the FinTech report for public comment. Between November 6 and 20, 2017, the Bureau received 30 submissions from interested parties, many of whom represent large segments of the industry. The feedback largely validated the Bureau’s recommendations.
- Final report: Technology-led innovation in the Canadian financial services sector
- FinTech market study overview infographic
- Submission by the Commissioner of Competition to the Department of Finance Consultation – A New Retail Payments Oversight Framework
- Submission by the Commissioner of Competition before the Department of Finance Canada – Potential Policy Measures to Support a Strong and Growing Economy: Positioning Canada’s Financial Sector for the Future
- Highlights from the Competition Bureau’s FinTech Workshop: Driving Competition and Innovation in the Financial Services Sector
- Competition Bureau launches FinTech market study
- Market Study Notice: Technology‑led innovation and emerging services in the Canadian Financial Services Sector
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The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.
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