The Canadian financial technology sector isn’t poised to slow down any time soon, and will continue to disrupt the banking and payment space over the next decade. As technology becomes more accessible and available to everyday consumers, fintech companies are positioning themselves to redefine how we look at finances.
As the financial market continues to look strong, many companies are stepping to the plate to offer the best in financial technology options to hungry users.
Here are some of the top Canadian Fintech companies currently catching our attention.
Bench is a platform that provides accounting and bookkeeping services to small and medium-sized businesses, that harnesses the power of financial reporting software as well as a bookkeeping team that works on your account in real time. The whole process is overseen by chartered professional accountants.
This service is popular because they not only assign a dedicated bookkeeper for your account, but Bench will also get to know your business deeply and show you how the platform works.
Every month, your dedicated bookkeeper will import all of your business transactions and look for issues or anomalies. If the team needs anything from you, they will let you know. For companies looking to scale, this type of real time, and financial reporting not only allows them to track the performance and health of your business, but also pays off at tax time as they provide you with a neat and tidy financial package to send away.
Borrowell is a fintech startup that provides AI-enhanced credit coaching tools on top of free credit score monitoring, as well as personalized financial service recommendations. Borrowell, a proudly Canadian company intent on helping people make the best decisions possible about their credit, has over 50 financial products and services on its platform, including credit cards, mortgages, and loans.
The platform’s AI-powered credit coach, Molly uses a recommendation engine to analyze your credit patterns and recommend the best options to you.
Over 1 million Canadians have joined Borrowell, attesting to its value to small business owners looking to manage their debt and achieve their financial goals.
This Canadian mobile app developer participates in the fintech sphere by offering small and medium-sized business as well as enterprise solutions to companies looking to improve the way they engage with users.
Their experts will help you hone and sharpen your business idea, and will guide you through every iterative step of the design process while keeping you in the driver’s seat. In the world of fintech app companies are integral to building the bridges that connect companies to their users. They build and support the feasibility of projects by harnessing the best and latest technologies to power your app.
Guaraná Technologies believes in a democratic development model, which treats you like a design partner rather than a client, and ensures your vision is never compromised.
eSentire provides its clients with Managed Detection and Response services (MDR), which help organizations protect themselves from cyber attacks. They built a sound reputation by being on call 24/7 in order to safeguard businesses against attack.
eSentire has streamlined and simplified security through an award-winning platform. Their human expertise and machine learning approach protects high-risk assets from advanced cyber threats that technology alone can miss.
Founded way back in 2005, Ithaca is an e-commerce company providing fraud detection service for credit cards and other electronic payments, as well as chargeback prevention services. A leading global provider of online fraud reduction, Ithaca has helped online businesses, e-commerce merchants, and card issuers increase their transaction acceptance, and recover lost revenue, all while reducing instances of fraud.
The Ethoca Network, the largest of its type in the fintech industry, closes the information gap between merchants and card issuers, making both customer dispute insight and fraud data more available and actionable in real time.
For those more geared to the financial aspect of fintech, Justwealth might be the perfect solution for those looking for better financial planning. An online wealth management company, Justwealth helps clients customize their investment portfolio whether they are individuals, corporations, or even high net worth investors.
Their simple to use and convenient personal portfolio management platform will help you create a well-structured investment strategy as well as build a portfolio using low-cost Exchange Traded Funds (otherwise known as ETFs) which will help you manage investments on a discretionary basis.
Traditional investment models involve a long series of middlemen, which of course, adds layers of costs, bureaucracy, and conflicts of interest.
Justweath cuts through the red tape, maximizing your portfolio’s efficiency and keeping more of your money where it belongs — with you.
These are just a few of the Fintech companies in Canada making a splash. As we transition into the next decade, there could be many more ready to emerge.