Fintech
Survey: Investing Remains a (Surprisingly) Taboo Topic for 75% of Canadians
Canucks Prefer Talking About Embarrassing Issues over Investing
Toronto, Ontario–(Newsfile Corp. – June 21, 2021) – As the country weathers an unprecedented pandemic, Canadian investors are also rising to meet unexpected challenges and opportunities. However, they may be making investment decisions (mostly) alone. New data shows that Canadians remain unlikely to discuss investments with friends and family. As uncovered in a new national survey (commissioned by Sharechest™ Inc. and conducted among members of the online Angus Reid Forum), 75% of Canadians think it’s simply rude to ask others about their investments and finances.
A) Rudeness Rankings:
To understand why Canadians clam up when talking about investments, Sharechest™ Inc. surveyed specifically what information Canadians thought was ‘rude’ to ask.
Nationally, 75% found at least one of Sharechest™ Inc.’s financial/investment questions to be rude:
- 71% think it’s rude to ask how much money someone makes.
- 23% think it’s rude to ask what someone invests in.
- 13% think it’s rude to ask what investment platforms someone uses.
- 13% said it’s rude to ask if someone uses a financial advisor.
“It really doesn’t seem possible to change the conversation about Canadian investing until we can bring ourselves to have an actual conversation about it,” said Chad Williams, the proudly Canadian Chairman and Founder of Sharechest™ Inc. “Let’s all stop being so clammed up and stereotypically ‘Canadian’ about investing and share some information with our friends and family, so we can all make better and informed investment decisions.”
B) Key findings of the survey:
1) English and French Canadians are split on spilling investment information:
- Nearly twice as many (40%) French-speaking Canadians DON’T think it’s rude to ask questions about money and investing, compared to only 22% of English-speaking Canadians.
2) ‘Taboo topics’ trump investment talk:
- When presented with a list of potentially sensitive topics to discuss with friends and family, Canadians appear most uncomfortable disclosing embarrassing health issues (31%) or conflicts with their romantic partner (32%). However, more Canadians actually say they’d be most uncomfortable discussing their investments (15%) than those who say the same of politics (12%) or religion (10%).
3) A significant number of ‘significant others’ AREN’T talking about investments:
- Asked who they actually do discuss money or investing with, only 66% said ‘with their spouse/partner or significant other,’ meaning that a third of Canadians (34%) aren’t having that conversation.
4) Men are far more open about money/investments:
- 70% of men say that they would discuss financial info with a friend, compared to only 58% of women.
- Men are also significantly more likely than women (30% vs. 22%) to say it’s not rude to ask someone about their finances or investments.
“With more and more Canadians choosing to manage their own investments, Sharechest™ is on a mission to completely change with how investors think, act and interact with companies and platforms,” added Williams. “Certainly, the first step is getting over our aversion to open investment discussions. The most important part is having new, easier, painless and sustainable ways for Canadians to find investment opportunities that also enable companies to find new and easier ways to attract financing.”
Additional findings of the survey:
Younger Canadians are a lot more open about investments
- 84% of younger Canadians (18-34 years-old) say they would disclose financial information to friends, vs.
- 69% of those 35-54 and 43% of those 55-and-older.
Many parents aren’t passing on their investment plans:
- Fewer than half (41%) of Canadians say their parents openly discuss their investments.
- 20% of Canadians say they would not ask their parents about investments they hold.
Friends and finance:
- Two-in-five (42%) Canadians say they are open about finances with their friends when it comes to salary but are less likely to disclose a bonus (25%) or their net worth (23%).
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Please refer to this as a Sharechest™ Inc. study in ALL media coverage.
About Sharechest™ Inc.
Sharechest™ has assembled a unique set of tools to help companies target, engage, and connect with Investors. Their flagship product, the Connector, allows companies to build a community of investors directly on their own websites. Paired with the Dashboard, companies can manage all leads effectively and gain meaningful insights on investor networks. Investors can quickly and easily connect with companies seeking financing.
About the Survey
These are the findings of a study/survey conducted by Sharechest™ Inc. from March 24th to March 25th, 2021 with a sample of 1,514 online Canadians, who are members of the Angus Reid Forum. The survey was conducted in English and French.
About Angus Reid Forum surveys:
The precision of Angus Reid Forum online polls is measured using a credibility interval. In this case, the poll is accurate to within +/-2.5 percentage points, 19 times out of 20. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.
About the Angus Reid Forum:
The Angus Reid Forum is Canada’s most well-known and trusted online public opinion community consisting of engaged residents across the country who answer surveys on topical issues that matter to all Canadians.
Contact:
Patrick McCaully
Pointman News Creation
[email protected]
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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