1. GTA Financial Services Cluster By Kelly Donlevy

2. What is a Cluster? A cluster is a geographic concentration of interconnected businesses, suppliers, and institutions in a particular field. Clusters promote information exchanges amongst members in order to further innovation.

3. What is the role of a cluster? Clusters can be any of the following Incubator – help early stage companies Convergence Centre – bringing together expertise Accelerator Innovation Centre Centre of Excellence

4. Critical to success A Cluster needs to have: Strong skills base Innovation and R&D capacity Networks and Partnerships

5. Who is part of the GTA financial Services Cluster? Financial Services members are: Banks Credit Agencies Security Dealers Insurance companies The Greater Toronto Area with a pool of over 200,000 workers ranks third among the top ten financial sectors in North America

6. The Competition Toronto’s main competition New York – Currently ranked 1st London – Currently ranked 2nd Clusters to watch out for Zurich Dubai

7. New York Financial Services Cluster Financial Services Cluster Located in NYC Represents 2/3rd of the state’s financial service jobs Represents 2% of all US private sector job Consists of 3 sub-sectors Insurance Banking Securities

8. London Financial Services Cluster City of London Represents 50% of total jobs in the UK for financial management Depend largely on FDI Generates demand for ICT, Legal services, and many business services

9. Toronto in the news CIBC is the first Canadian bank to launch mobile banking app for iPhone Ontario government offers strategy to help Toronto compete on an international scale Centennial College to offer Islamic finance course

10. Innovations in Financial Services Check deposits – done through camera phones Mobile banking: deposit a check with a picture Contactless debit cards Debit cards with RFID technology 10 digit pin numbers on credit cards Identity fraud protection for the 22nd century

11. Thank you Please visit my blog http://kelly718.wordpress.com/