Toronto is recognised as one of the largest and most stable financial centres in the world that encompasses a diverse tech and academic community. Nearly 80% of fintech startups in Canada are Toronto-based and supported by the government, private investors and the corporate community. Incumbent banks are dedicating 40-60% of their FinTech innovation budgets to areas such as artificial intelligence, cybersecurity, and blockchain. Venture-capital financing in Canadian FinTech was up 74% from 2015 to 2016, its highest level since 2000. This growth continues to attract global banks, investors, and startups that are looking to set-up shop and expand their FinTech innovation in Toronto.