Canada: FinTech Sandbox expands to Canada

The Ontario Centres of Excellence (OCE) has signed a memorandum of understanding (MOU) with non-profit company FinTech Sandbox, in a collaboration that will see the sandbox’s fintech development model introduced into Canada.

Boston-based FinTech Sandbox provides access to resources, including data, networks, and cloud hosting, to qualifying FinTech start-ups with the aim of accelerating FinTech product development. FinTech Sandbox offers free access to its services in return for participants sharing their learnings and collaborating to benefit the FinTech ecosystem overall.

FinTech Sandbox will begin its program in Ontario before expanding throughout Canada, providing data products from 32 industry-leading partners.

Charles Sousa, Ontario’s Minister of Finance, outlined the impact of this collaboration: “This partnership is an exciting step that will help grow our economy, create jobs and give Ontario a competitive edge in an increasingly competitive financial services industry. Ontario Centres of Excellence will provide an important contribution to the FinTech sector, which is poised to grow and thrive in Ontario.

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