According to the latest Global Financial Centers Index, Toronto is North America’s second-largest financial services hub, and rose to number eight on a ranking of the world’s most important financial centers. In fact, Toronto is also home to 12,000 financial services companies and makes up 37% of Canada’s total GDP, making the province a strong economic driver for the nation.
It’s no surprise Toronto is attracting top talent, investments, and leaders from all over the world, helping herald the city as a top destination for payments.
This May, Toronto will be hosting two back-to-back payments conferences:
- Prepaid Payments Symposium (May 23)
- Payments Canada Summit (May 24-26)
Both events invite payment professionals to learn about the latest regulatory changes, emerging technologies and disruptors, best practices and use cases, and the latest hyper-growth strategies and techniques.
Prepaid Payments Symposium
The CPPO Prepaid Symposium will be the premier event for anyone working in the prepaid industry or looking to understand more about the fastest-growing payment tool in North America. Prepaid is the fastest-growing payment tool and an engine of Canada’s digital economy.
This symposium is the only event dedicated to discussing innovation in the emerging prepaid payments category. This limited-attendance symposium will foster deep dive discussions on critical topics and an opportunity to engage with speakers.
Anatoly Kvitnitsky, Trulioo’s VP of Growth, will participate in a panel discussion:
The Business of Financial Health and Inclusion
Financial health and inclusion goes beyond access to a bank account. In this session, panelists will discuss the good business of promoting financial inclusion in Canada and globally along with strategies to increase trust and safety and reducing debt and overspending. Anatoly will join:
Susan Herbst Murphy
Federal Reserve Bank of Philadelphia, Payments Card Center, Consumer Credit & Payments Industry Expert
CEO and Founder, Koho
The CPPO is a not-for-profit organization and the collective voice of the open-loop prepaid payments industry in Canada. It is the only Association solely focused on this growing industry and is supported by major financial institutions, card networks and other industry players. The CPPO is focused on awareness and education so that consumers and businesses can have the best experience with these popular products.
Payments Canada Summit
The Summit is the premiere payments-related conference in Canada. The Summit will explore a broad spectrum of issues and topics that influence the future of payments policy, services and processing, with a focus on exciting innovation and disruptors emerging in the payments ecosystem.
Organized annually by Payments Canada, this conference is where Canada’s payments ecosystem comes to connect. With rapid-fire keynotes, focused break-out sessions, an exhibit hall and more, The Summit is the conference to attend for all things payments.
Anatoly Kvitnitsky will deliver a presentation:
Solving the compliance-customer experience conundrum
Wednesday, May 24, 2017 - 4:00pm to 4:50pm
This presentation will review recent amendments to proceeds of crime legislation, which come into force in June 2017 (or have been optional since June 2016 and become mandatory in June 2017). It will also discuss some of the fundamentals of the FinTech revolution, which is ultimately more about improved customer experience than technology, and the challenges posed by the regulatory burden of financial institutions to improving customer experience.
It will discuss the benefits and opportunities that RegTech can offer and the need and opportunities presented by a paradigm shift in thinking on compliance; away from "we must do this" to how can this be done better. Changing perspective on compliance can give a unique competitive advantage and allow traditional cost centers to drive value by improving the speed and experience of the customer acquisition process.
There’ll be another presentation on this topic by Robert Dawkins, a Partner at Borden Ladner Gervais LLP. His core practice areas include financial services industry litigation, financial crime compliance (including anti-money laundering and economic sanctions compliance), FINTRAC administrative monetary penalty appeals, AML policy drafting, advising with respect to FINTRAC examinations, and consumer protection law compliance.
Payments Canada is responsible for the clearing and settlement infrastructure, processes and rules essential to those transactions.
They are delegated by the Canadian Government to support a vibrant economy by helping to meet the payment needs of consumers and business, and empowering a new era of modern payments.
With the upcoming FINTRAC amendments to ascertaining ID, as well as developments in KYC technology, both events are going to be timely, interesting and informative. We encourage you to make your way to Toronto in late May and catch both events; you won’t be disappointed!