Open Banking: Increasing Consumer Awareness - PDF

The introduction of an ‘open banking’ system in Canada will be a significant development potentially impacting the Canadian consumer significantly. The federal government has conducted a consultation through an Advisory Committee. The Committee issued a final report, which oers a guide for implementing an open banking system in Canada. The committee foresaw much promise in open banking, with benefits for consumers and the public good, but much depends on how such a system is governed and how it is designed and implemented. This report spotlights from a consumer perspective regulatory policy advice to- date on the implementation of ‘open banking’ in Canada.