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FINANCIAL SERVICES
EMBRACE. ELEVATE. ENVISION. 2 0 2 4 XPERIENCE ALBERTA 29
In Alberta, more than 126,000 people work in the finance, real estate, insurance and leasing industry. The Alberta Treasury Branch, the largest financial institution headquartered in the
province, lended out $23.1 billion in 2023, and brought in revenue of $1.9 billion, a new record. The rising energy sector is increasing investment. Along with record high levels of net migration, the finance sector is growing steadily.
As currency itself diversifies, from traditional paper money to crypto, Alberta’s growing financial sector is offering innovative solutions when it comes to lending. As more start-ups emerge, we’ll need
a nimble, creative financial sector to be able to steer through the new fail-fast economy. Home to unicorn fintech companies such as Benevity and Neo Financial, Alberta has demonstrated its ability to support innovation in this sector.
Some new financial products are emerging to service previously underserved groups, from Indigenous populations to charities. This is part of the new era of banking, where the suit-and-tie executives in tall financial-capital towers have to make way for those who see bigger pictures than annual reports and fiscal updates. The nature of money itself is changing, and Alberta is ready to embrace what the world brings in blockchain, cryptocurrency and other technology.
Invest Alberta Corporation is expediting growth in fintech with
its Financial Services Concierge — a single point of contact for regulatory or government barriers to innovation — which, in combination with access to capital, makes Alberta a global leader.