The heart of Canada’s financial district was the setting for the formal launch of Ontario Centres of Excellence’s (OCE) newest partnership with FinTech Sandbox.
About 130 representatives from the fintech innovation ecosystem gathered at the Bay Street offices of Thomson Reuters Canada to mark the occasion with an afternoon of guest speakers, case studies, and a panel discussion under the banner “The Importance of Data and APIs in the Fintech Ecosystem.”
“This collaboration enables us to provide access to critical data and resources for qualifying fintech SMEs and start-ups throughout Ontario,” said Tom Corr, President and CEO of OCE. “This kind of support can be extremely valuable, equipping companies with critical growth levers and the ability to scale more quickly.”
OCE signed an agreement with the Boston-based non-profit in June to expand the FinTech Sandbox model into Ontario. FinTech Sandbox offers financial data feeds and application program interfaces (APIs) for development purposes.
“We are thrilled to be able to work with great start-ups in Ontario who are enabling incredible technologies for the financial services sector,” said Jean Donnelly, Executive Director of FinTech Sandbox. “Community is the lifeblood of FinTech Sandbox, and we are pleased to join a recognized innovation ecosystem leader in OCE that is helping start-ups, and that creates growth within the community.”
The Honourable Charles Sousa, Minister of Finance for Ontario, was the event’s special guest.
“As Ontario Centres of Excellence celebrates the official launch with FinTech Sandbox and its platform in Ontario, I want to thank you for providing greater access to critical data and resources for Ontario-based fintech start-ups,” said Minister Sousa. “I want to thank you for helping to create and foster the next generation of fintech firms and for growing the province’s fintech industry.”
As the hub of Canada’s largest financial services cluster, Ontario is an ideal setting for the OCE-FinTech Sandbox partnership. The province has a dynamic financial services system with a highly-educated work force, access to capital and markets, resilient infrastructure, smart regulatory oversight, and a thriving innovation ecosystem.
Lawrence Johnson, Head of Fintech Engagement & SVP, Business Development, Morningstar
Mona Vernon, Chief Technology Officer, Thomson Reuters Labs Debbie Gamble,
Thomson Reuters has its roots in Ontario, and now it is boldly expanding here to take advantage of a diverse workforce and a thriving innovation ecosystem to provide world-class solutions to global customers. Mona shared her views on the importance of data and APIs in the fintech ecosystem.
VP, Digital Products and Platforms, Interac
More open data from more sources can result in improved customer experience and choice as well as increasing transparency, and offering fintechs new opportunities. Why is this paradigm shift taking place, and what will it mean for Canadians and the Canadian banking system? How can organizations large or small embrace openness to create and capture value?
All photos of the event can be found on Flickr