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Canadian Lenders Association Launches Quickstart Lab Initiative to Support Early-Stage Fintech Companies

Toronto, ON – The Canadian Lenders Association (CLA) is proud to announce the launch of its Quickstart Lab initiative, aimed at providing APIs and startup solutions for early-stage fintech companies. This initiative is designed to help fintech companies build solutions, cut costs, and manage time effectively.

The Quickstart Lab initiative was created in response to the challenges that early-stage fintech companies face gaining traction and establish product-market fit. With this initiative, the CLA hopes to support these companies by providing them with the resources they need to succeed.

“Our goal with the Quickstart Lab is to help early-stage fintech companies overcome some of the roadblocks they face in getting their ideas off the ground,” said Gary Schwartz, President of the Canadian Lenders Association. “By providing them with access to our communities leading edge APIs and solutions, we hope to accelerate their progress and help them establish a foothold in the market.”

The Quickstart Lab will launch with a number of APIs and solutions tailored to accelerate early-stage ideas and get them cost-effectively to establish product-market fit. These solutions include lending-as-a-service, digital identity verification, and payment processing.

“We believe that by providing these solutions, we can help early-stage fintech companies get to market faster, which is crucial in today’s economy,” said Schwartz. “We’re excited to see the impact this initiative will have on the fintech industry in Canada.”

The CLA is committed to supporting the growth and development of the fintech industry in Canada. Through initiatives like the Quickstart Lab, the organization is helping to ensure that early-stage companies have the resources they need to succeed.

More than Capital

The fintech industry in Canada has been steadily growing over the years, with numerous startups emerging in the space. While access to capital is important for these companies, it’s not the only thing they need to succeed. Startups require access to technology, data, and legal tools from day one.

One of the biggest challenges for early-stage fintech companies is accessing the modular technology they need to build and scale their solutions. This is where support from established vendors in the industry can be invaluable. By providing access to cost effective APIs priced to allow for early stage MVP trial is important.

Data is the life blood of financial solutioning. Having access to bureau, identity and fraud APIs enables companies to build nimbly as they establish PMF before they scale. Access to these API can be costly for startups, especially those that are just starting out. Quickstart Labs will provide startups access to the data they need to build.

Legal counsel is crucial for fintech companies. Regulations in the financial industry can be complex and difficult to navigate, and it’s important for startups to have access to legal resources that can help them comply with these regulations. By providing legal support, startups can be better positioned for success and scale.

In Canada, there has been a growing recognition of the importance of supporting the startup fintech community. We are proud to have representation of leading vendors across the ecosystem may of whom are participating in the Quickstart Lab initiative.  We are working to ensure that the next generation of fintech companies has the tools they need to succeed.

For more information about the Quickstart Lab initiative, please contact nicholas@canadianlenders.org

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