Disruption proof? How Canadian banks are transforming the art of transformation
The Canadian banking industry has always been unique and remains so even as the global banking landscape is massively disrupted by digital technology, new market entrants and wide-reaching regulation.
The Canadian financial services industry is dominated by the “Big-5” government-chartered banks, which are actually multinational conglomerates servicing all financial sectors.
For seven consecutive years, the World Economic Forum has ranked the Canadian Banking System the world’s strongest.
Unlike the European market, where banks are facing regulatory pressure to adapt and expand, Canada is unlikely to face such catalysts. The market is expected to continue consistent and conservative growth, balanced across the Big-5.