Six Canadian financial technology (fintech) companies have earned a place on a ranking of the top 100 fintech companies in the world.
The 2016 Fintech 100, released on Monday, singles out 50 companies that are established players in the field and 50 “emerging fintech stars,” according to an announcement from New York-based KPMG LLP and Sydney-based H2 Ventures Pty Ltd., both of which compile the annual ranking.
Toronto-based Wealthsimple Financial Inc. and Montreal-based North Side Inc. made the list of emerging fintechs and represent Canada in the area of digital investment management.
Wealthsimple is a robo-advisor firm while North Side’s technology allows consumers to execute trades by issuing verbal or written instructions through a mobile phone.
Other emerging Canadian fintechs include Vancouver-based Grow Financial Inc., which provides a fully digital experience in the granting of loans and mortgages, and Toronto-based Overbond Ltd., a digital primary bond issuance platform for institutional markets.
Toronto-based League Inc., a mobile-first group health benefits platform, and Toronto-based SecureKey Technologies Inc., a provider of identity authentication software, made the list of the top 50 established fintech companies.
SecureKey joins eight other companies on the 2016 Fintech 100 that focus on the fulfillment of compliance requirements and thus has led to the emergence of a new fintech subsector of regulatory technology or “regtech,” according to KPMG and H2 Ventures.
Another increasingly popular category is insurance technology or “insurtech.” The 2016 list includes 12 companies that focus on insurance-related services, which is close to double the number of companies present in the 2015 list.
The full list of companies that earned a place on the top 100 ranking can be found on H2 Ventures’ website.
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