Canada 2 to 5 Years Behind in Fintech: Peter Misek

The video discusses the historical leadership of a banking system that once led the world in ATM and debit card usage, and the creation of Interac, which was envied and copied internationally. It highlights the early adoption of EMV technology, noting that while initially ahead, the system may now lag behind by 2 to 5 years. Despite this, the video emphasizes the strength of financial institutions, the presence of developers, and available capital, which are driving successful investments in startups.

What was one of the key achievements of the banking system that was envied by Americans?

• The development of mobile payment systems

• The creation of Interac

• The establishment of cryptocurrency exchanges

• The introduction of online banking

How long has the EMV technology been in use according to the transcript?

• 5 years

• 20 years

• 10 years

• 15 years

What is the current status of the banking system in terms of technology, as mentioned in the transcript?

• It is on par with global standards

• It is slightly behind by a few years

• It is leading globally

• It is ahead by a decade

What are some of the strengths of the current financial institutions mentioned in the transcript?

• Lack of innovation

• Strong financial institutions and developers

• Limited access to capital

• High dependency on foreign investments

What is the outlook for the investments made in startups according to the transcript?

• They are facing significant challenges

• They are stagnant

• They are going really well

• They are declining