This IDC Tech Buyer Presentation examines the seven drivers and ten predictions that both CIOs and their business partners should consider over the next five years in the financial services industry in Canada. The list is not meant to be exhaustive nor is it meant to be final. IDC Financial Insights publishes a new list of drivers annually, and many are evolutionary. Last year's drivers were instrumental in developing this list, just as this year's drivers will be critical to the formulation of next year's drivers.
"Historically, Canada's financial services firms have been slower to adopt newer technologies. With the introduction of various government-led regulatory imperatives, the Canadian financial services industry is going through major changes. Improvements in areas like payments, open banking, and security are expected in the next five years through the adoption of technologies such as AI and blockchain, although Canada would still lag behind other major countries in introducing these new technologies," says John Zhang, research analyst, Industry and Business Solutions, IDC Canada.