TFI FinTech Strategy

Technology and innovation is rapidly changing the landscape in the financial services sector and the Toronto Financial Centre is uniquely positioned to capitalize on the opportunity. Toronto the 2nd largest financial centre in North America and sits in the 3rd largest technology cluster on the continent. The dept and quality of our financial and technology expertise provides a competitive advantage for our financial centre and the sector more broadly. TFI works with the financial services sector, government and academia on collective initiatives and actions which drive innovation in the financial services industry and establish the Toronto Financial Centre as a leading hub for FinTech business.

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Accelerating the Growth of Cybersecurity Companies in Ontario

The Cybersecurity Fintech Innovation Pilot Program (CFIPP) is a one-year, $7.8-million initiative funded by the Ministry of Research, Innovation and Science (MRIS) and delivered by Ontario Centres of Excellence (OCE) in collaboration with the Toronto Financial Services Alliance (TFSA).

The program accelerates the growth of cybersecurity start-up and scale-up companies in Ontario by partnering with financial institutions (FIs) seeking innovative solutions to cybersecurity challenges, and by providing them with cybersecurity talent.

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Israel-Ontario Cybersecurity Initiative

The Ontario Centres of Excellence (OCE) and the Israel Innovation Authority (IIA) launched a new, $20-million bilateral program. Both jurisdictions have committed $5M each over 5 years to support the Ontario – Israel Research Network Program-MAGNET (OIRNP-MAGNET) for a total of $10M that is matched by participating SMEs.

Cybersecurity in the financial services sector was identified as the focus area for the inaugural call for proposals. OCE and the Toronto Financial Services Alliance (TFSA) have identified Toronto-based financial institutions that have participated in this initiative.

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