Suppose you think that the financial technology adoption rate is high only with younger generations. In that case, you’ll be surprised to know that 46% of the FinTech borrowers in Canada are over the age of 40.
Suppose you think that the financial technology adoption rate is high only with younger generations. In that case, you’ll be surprised to know that 46% of the FinTech borrowers in Canada are over the age of 40. The market scenario of FinTech in Canada is quite different from global trends. Unlike some other markets around the world, Canadian customers trust reputed banks due to their decades of relationships.
Canadian FinTechs understand this dynamic. Hence, they seek opportunities to collaborate with existing banking and financial institutions to gain access to established customer relationships. However, it seems like the Canadian FinTechs will soon be competing against Canada’s conventional banking and financial infrastructure.
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