AI, blockchain and FinTech think tank, Digital Finance Institute, has released the list of who they consider being Canada’s top 50 FinTech companies for 2019. The list has been compiled by the company’s chief innovation officer, Tongtong Xu, institute researcher Fan Cheng and consumer behavior specialist, Sara Khoo.

FinTech is the merging of finance with tech.

Gathering information

As part of the investigation, in-depth market research and informal interviews were conducted with stakeholders to enable the company to gather the vital information they needed to create the list.

Discussing their report, the researchers have said: “In assessing the factors, we standardized the ranges of numeric variables and measured each company’s score index by calculating the weighted average under the comprehensive consideration of the determining factors… The companies listed represent a wide diversity of sub – sectors in FinTech, capital markets, insurance, Blockchain, RegTech, payments and finance.”

Who made the list?

From the list of top 50 FinTech companies, these are just a few choices selected from the list:

Bench provides accounting and bookkeeping for small companies using financial reporting software.

Coinsquare is a digital trading platform that lets Canadians purchase digital currencies online and with mobile apps.

easyfinancial offers an omnichannel model that uses digital technology to help customers with financial services.

eSentire provides Managed Detection and Response (MDR) services to protect organizations from cyberattacks.

Freshbooks is cloud-based accounting software that makes accounting easier for a range of businesses.

FundRazr assists with crowd-funding through cloud-based technology.

KOHO provides a spending account that helps customers save money and get real-time money back.

NorthOne is a digital bank for start-ups, freelancers and smaller businesses.

Ratehub.ca compares mortgages and credit card rates to give personal recommendations to Canadians.

Smooth Commerce is a mobile commerce platform that provides businesses with payment and reward solutions.

Zeninsurance is an insurance provider that uses AI process automation to deliver insurance at lower rates.

The aims of Digital Finance Institute

As an organization, Digital Finance Institute aims to have a base in support for women in FinTech, financial inclusion, and responsible innovation.