Building Vancouver’s Financial Technology Cluster

The BC Technology Industry Association has forged a strategic collaboration with Central 1 Credit Union, Coast Capital, and FICANEX to bolster its FinTech Program in British Columbia.

BCTIA says that this is an extension to the programming previously announced in partnership with PayPal to create Western Canada’s first financial technology program.

“We announced our plans to build a FinTech program in late-2015, as consultations with local tech companies revealed the need for advanced support within our province,” said Bill Tam, BCTIA’s CEO. “Vancouver’s FinTech cluster has grown to nearly 100 companies, and with global FinTech investments soaring to more than $12 billion in 2014, that presented a significant opportunity to connect BC-based FinTech companies with market leading partners in Canada and around the world.”

The BCTIA FinTech program is designed to support growth-stage companies, and includes quarterly “FinTech Days,” Masterclass Workshops, Peer Learning, and Connection Days to foster relationships between tech companies, financial institutions, investors, and partners.

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BCTIA says that the program has chosen to take a uniquely “West Coast” approach, focusing on BC’s strength in credit unions and Tier II Banks, as well as the expertise of one of Vancouver’s original financial technology companies.

“Credit unions have a long history of innovating to serve their members and we are continuing to lead the way with new FinTech developments,” said Oscar van der Meer, Chief Technology and Payments Officer at Central 1 Credit Union.

The BCTIA FinTech Cluster launched in 2015 with the announcement of a collaboration between BCTIA and PayPal Canada.

“Vancouver is a hotspot for FinTech startups,” said Alexander Peh, Head of Mobile and Market Development at PayPal Canada. “Teaming up with BCTIA, we want to help FinTech innovation on the west coast of Canada by investing heavily in coaching, mentoring and knowledge sharing.”

PayPal Canada will host the first BCTIA FinTech Day in June 2016.