Regulatory analysis of a fintech application for financial literacy

Debican is a Canadian startup with the mission of preparing youth for their future financial life through real-life experience through their digital city App for youth where they will be able to learn money management. Under parental control, Debican will give youth their own debit cards to shop in the Debican city marketplace and will learn to manage their money by earning, saving, donating, and spending wisely. The financial regulations surrounding creating a digital, real-money marketplace, in particular one that allows youth to participate, are complex. Debican is collaborating with Seneca’ School of Accounting and Financial Services to analyze regulations in Canada around financial tools and access to these tools by youth, as well as the regulations imposed on fintech companies such as Debican. Furthermore, the requirements and steps towards enabling the usage of prepaid cards and working with banks need some effort to elucidate. The intern, under guidance of the academic and industry leads, will research regulations relevant to Debican’s business model to create reports and projections that will provide Debican a report that will provide them with a roadmap on how to work with banks and other primary partners and a regulatory analysis and strategy framework for the

Faculty Supervisor:

Ishaan Srivastava;Namrata Barai

Student:

Partner:

Debican Inc.

Discipline:

Business

Sector:

Finance and Insurance

University:

Seneca College of Applied Arts and Technology

Program: