Jan. 29, 2021
Professor contributes to expert report on basic income
Professor Ryan Clements has contributed to the report for the Government of British Columbia.
Ryan's study, called "Financial Inclusion in British Columbia: Evaluating the Role of Fintech," illustrates how some fintech innovations—highlighting numerous companies operating in British Columbia, Canada, and internationally—can benefit people who are unbanked and underbanked as an alternative to “fringe” banking. Fintech is not, however, a panacea for those excluded, marginalized, or underserved by traditional financial firms, and there are several implementation barriers and integration risks in this market development. This paper provides seven key policy recommendations to help maximize the inclusionary benefits of fintech in British Columbia while mitigating its potential risks.