Financial technology

December 2015

Canadian Digital Media Trends

Connectivity

From 2013–2014, The FinTech sector grew 26%

Global investment in FinTech companies tripled from $4.05B in 2013 to $12.21B in 2014. 

5 year compound annual growth rate in FinTech investment by region:
23% Silicon Valley
39% Europe
51% UK/Ireland

Productivity

By 2018, technology spending by the Canadian financial sector is expected to grow to $14.8B.

Globally, on I.T., banks are expected to spend $206B.

$65B North America
$67B Europe
$74B Asia Pacific

Mobilizing Digital Content

Top 5 FinTech subsectors by growth:
10% E-commerce
4.1% Money transfer
8% Fleet processing
3.9% Card networks
3.3% Security

Bottom 5 FinTech subsectors by growth:
-1% Prepaid
0.3% Payment processing
0.3% ATM processing
0.6% Business process outsourcing
1% Data analytics

Access to talent

703,000 people employed in Canada's financial services sector.

55,200 workers account for the FinTech portion of this sector.

Percentage of employees in financial services who say the following benefits are important for retention:
68% Competitive compensation
46% Flexible location
44% Updated technology
40% Education

Canadian Digital Media Network
Government of Canada

For more on key trends impacting Canada's digital media economy visit: www.cdmn.ca/trends