“The Canadian brand is strong in New York,” Canada’s Consul General in New York John F. Prato told a group of about 100 members of the finance, investment and startup communities in New York at a reception held earlier this week at the Thomson Reuters building.
Sponsored by the Canadian Consulate General of New York and the Ontario Government, the event showcased the technology of six promising Canadian FinTech companies, including three in the Consulate’s Canadian Technology Accelerator program in New York.
Greg Baxter, Global Head of Digital Strategy at Citi delivered the keynote address.
The Canadian FinTech companies were challenged to deliver one-minute pitches:
- Wagepoint: The first payroll company to allow employees of small businesses to be paid in Bitcoin in the US and Canada, now the first payroll start-up with a software solution that can service both the US and Canada
- Market IQ: A Big Data Analytics company that gives capital market professionals actionable investment intelligence culled from social and structured data. Clients include NASDAQ and MarketWatch
- Camouflage: A leading provider of data masking solutions for securing sensitive data. Used by Fortune 500 companies and protecting some of the largest databases in the world
- Financeit: A platform that makes it easy for businesses of any size to boost their sales by offering payment plans to their customers. Recently launched a fully compliant platform for lenders in the US
- eSignLive by Silanis: The leading electronic signature solution for businesses, processing 600M documents annually on the premises and in the cloud. Used by 8 of the top 20 banks in North America
- TickSmith: Big Data platform giving financial institutions the ability to work in many ways with large quantities of financial data. TickSmith currently manages more than a Petabyte of financial data
Shrad Rao, CEO and founder of Wagepoint “We are a simple, fast and friendly online payroll system”
On the margins of Finovate Fall 2014
The Canadian presentation and networking event overlooking Times Square was held on the margins of Finovate Fall 2014, a high-profile showcase in New York of the best new innovations in financial and banking technology for the investor, finance and technology communities.
70 companies were selected to pitch in this year’s Finovate Fall, including Canada’s Financeit, eSignLive by Silanis, and TickSmith. The Trade Commissioner Service of Canada is a partner in this year’s event.
The Canadian FinTech event attracted nearly 100 representatives of the New York investment, financial services and start-up communities
The choice of New York
“There is no better place where the world of finance and technology can intersect, than right here in New York,” Canada’s Consul General John F. Prato said in the opening remarks.
“That’s why we created our Canadian Technology Accelerator in New York where we support Canadian start-ups with mentorship, partnerships and introduction to financing options,” he said.
The Consul General emphasized that Canada offers global investors many advantages including a welcoming business environment, low tax rates, a competitive R&D environment and unparalleled market access.
“What really drives innovation in FinTech and other sectors of Canada is the quality of our workforce,” said John. F. Prato. “Canada has the most highly educated workforce in the OECD with over half the working age population having achieved tertiary education.”
Keynote speaker for the event was Greg Baxter, Global Head of Digital Strategy at Citi (above, speaking with Canadian Consul General John F. Prato). He commented on trends in FinTech and innovation.
“At Citi, our challenge is to bring innovation to our industrial scale. For innovators, their challenge is to bring industrial scale to their innovation,” he told the audience.
“FinTech innovation is transforming customer experience and operating model efficiency, which are core to our strategy,” said Baxter. “We want to work with partners who can help us deliver this transformation. To do this, an open-banking philosophy is critical.”
The Canadian FinTech event took place at the Thomson Reuters building overlooking Times Square
“I found Greg Baxter’s vision of the future of banking to be very compelling,” commented Erik K. Grimmelmann, President and CEO of the New York Technology Council.
“The ecosystem he described will give opportunities for lots of FinTech players such as those presenting here tonight,” he said.
Suresh Songa, Vice-President and Client Partner-BFS of iGATE noted that the event was well-attended by enterprise banks and technology executives.
“In his opening address John aptly described the opportunities in Canada and why Canada,” he said. “The dynamism and business-oriented outlook of Consul General John Prato and his talented Trade Commissioner team is impressive…Certainly a team to go to for direction and support for trade and investment in Canada.”
Charaka Kithuledgoda, the Chief Information Officer at Tangerine Bank also found the evening valuable.
“It’s great to see Canadian Fintech start-ups getting this support in New York City,” he said.
“I’ve made great connections here with people who are very interested in what we are doing,” said Michael Garrity, CEO and Co-Founder, Financeit.
“That’s enormously helpful for us.”
Suresh Songa, Vice-President and Client Partner- BFS of iGATE and Canadian Consul General John F. Prato
For more information about the FinTech companies in the Canadian Technology Accelerator visit: ctaconnects.com
About the Canadian Technology Accelerator:
The Consulate General in New York runs three technology accelerators that target high-potential early-stage companies in three sectors selected through a competitive process:
CTA Digital Media (CTA@NYC): Ad Tech, Data Analytics, FinTech, E-Commerce, SaaS and on-line Content) selected through a competitive process.
CTA CleanTech: Green chemistry and advanced materials; energy/water data, analysis, management & control; clean energy; clean transportation and mobility, clean web, consumer engagement and smart grid
CTA Health IT: Focussing on patient-centered solutions using health information technology including mobile devices (mHealth) and telemedicine (eHealth).
The companies receive international business acceleration from partners in the private sector, working closely with Trade Commissioners of the International Business Development section of the Canadian Consulate.
For more information: ctanyc @international.gc.ca
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