Yes, that's a very interesting question actually.
So on the fintech side, a fintech report was issued. Actually it was mentioned earlier today. I think what we're seeing is some fintech companies that are really growing quickly in Canada and wanting to offer different packages, products and portfolios to customers. We all use banks, I hope, and we're all transferring money and doing everything on our smart phones. So how can we modernize and effectively and efficiently allow some of these new start-ups and this new innovation into the banking sector, which has been pretty closed off for the last several decades?
To your question about privacy, there was a privacy bill introduced under former minister Navdeep Bains, and I think it came as a little bit of a surprise to the ecosystem in the sense that it was just not anticipated. There hadn't been any consultation. I know the government has taken that back and done some more thinking on it, but again, we're sitting here on Zoom, and there are privacy protocols we all had to endure as we set up for this conversation today, and we need to be thinking about that more broadly for Canadians. We all have the privilege of being on this call this evening, but there are a lot of Canadians who aren't aware of the privacy issues or what's at stake being online all the time.
For us it's really important that the government get this right for citizens but also for companies. Having several layers of regulation and compliance with Europe and the U.S., it's just going to be very difficult for companies to excel in Canada.