Toronto has what it takes to be a global FinTech hub and advance its financial services sector. The sector however faces several challenges related to attracting and retaining highly skilled talent that combine the need for financial and digital skills and which will ensure sustainable growth and development of the industry.
In response to this need, Ryerson University recently released key findings of a research study to address several challenges facing Toronto’s FinTech sector at a dissemination event on May 24th, 2017. This research has been supported by the Ontario Human Capital Research and Innovation Fund (OHCRIF) and developed in consultation with the Toronto Financial Services Alliance (TFSA), a unique, public–private partnership dedicated to growing Toronto region’s financial services cluster and building it as a “top ten” global financial services centre. This collaboration brought together several stakeholders, including Ryerson’s Ted Rogers School of Management, the Faculty of Science and the Ryerson Career Centre. At the event, more than 30 like-minded people from a wide variety of backgrounds convened to examine the future of FinTech and how to leverage various opportunities to help build a stronger future for the field, and to develop its talent pool.
The findings presented by Dr. Amir Mojtahedi, the post-doctoral Fellow who conducted the research for the project, shed light on local and international FinTech talent-related initiatives as he explored findings from various FinTech hubs including New York, London, Toronto, Singapore and San Francisco. He also presented findings from qualitative interviews from across the FinTech industry, including leaders in banks and start-ups, as well as recent graduates working in the field, who shared their perspectives on the FinTech talent challenges in Toronto.