Fintech is helping accelerate financial inclusion
Fintech and digital financial inclusion were the main topics of a SME Finance Forum’s presentation at University of Toronto, held on August 13th, during the 5th Annual FinTech Canada Conference, organized by the Digital Finance Institute in Toronto, Canada.
The presentation focused on how fintech is changing the nature of banking, and how digital technologies are becoming a major driver of economic development. “Fintech is helping accelerate financial inclusion. For example, a rapidly growing crop of technology-focused MSME lenders are putting customer needs at the center of their business models. Fintech companies offer faster, easier, and better fitted financing solutions that MSMEs seek today”, said SME Finance Forum CEO, Matt Gamser.
“Traditional banking necessitates more of open banking environments to stay competitive”, added Mr. Gamser, addressing a group of professionals from Rotman School of Management (University of Toronto) alumni. In addition, Mr. Gamser shared his insights into recent global regulatory changes and how international organizations are taking fintech into account when making policy recommendations.
During the event, Professor Aikman of University of Toronto, Mr. Wu of China Construction Bank (Canada) and Mr. Yuan, Director of RBC Capital Markets, also discussed about traditional banking and the future of digital financial inclusion. Hosted by Eric (Jun) Gu, Secretary General of PIEC - the Pacific Innovation and Executive Club Toronto, the presentation attracted young professionals from across the finance and business world interested in learning about the fintech sector.