Purpose CEO Som Seif says “self-centred” finance industry is killing competition

Purpose Investments founder and CEO Som Seif says the financial services industry is dominated by incumbents who don’t like change, and they use the regulated nature of the industry against potential challengers. The news: Seif made the remarks in a keynote address kicking off the 2026 Canadian Finance Summit on Thursday morning during Toronto Tech Week. Seif highlighted what he sees as the challenges and opportunities within the Canadian financial industry, namely that traditional finance is “v