Payments Canada has much to be proud of in 2017. The organization built internal capabilities by growing its workforce and improving the resiliency of its systems, made great strides on its mission to facilitate payments innovation and set the stage to usher in a new era of modern payments.
In 2017, Payments Canada cleared and settled $7.5 billion transactions totaling $50.45 trillion, averaging $199 billion each business day. Not only did the organization continue to operate a safe, secure and reliable payments system for all Canadians, it also made tremendous progress towards building connections to facilitate a successful modernization program. The most important milestones included aligning the industry on the revised roadmap and target state, building capacity of the team and securing funding for the program.
2017 also marked our most important year to date in building the depth of expertise that will help realize the success of Payments Canada's Modernization efforts. Focused on retaining superior talent, fostering engagement, and expanding our capabilities around personal leadership and creativity. This growing team and an expanding array of skill sets are helping us to both mitigate operational risk and to position our organization as an influencer with the financial ecosystem.
What propels us forward is the collective ambition to deliver a fast, flexible and secure payments system that promotes innovation and strengthens Canada's competitive position.
Download the complete 2017 Annual Report, Ushering in a New Era of Payments.