The Canadian financial sector has proven its strength over the years, including, notably, in response to the 2008 financial crisis.

With a track record of resilience, it is no surprise that both the Canadian Government and financial services industry acted swiftly in the early stages of the COVID-19 pandemic and collaborated closely to ensure a smooth and cohesive response to the economic fallout of the crisis in Canada. In this article, we explore the financial sector’s digital transformation, and trends that will shape the industry in the months and years ahead.

Accelerated move to digitization

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