Canada Banking Sector to Witness Significant Transformation with Open Banking Implementation

Big changes are coming to how Canadians bank, but adoption likely to be slow

A long-promised revolution in banking is headed to Canada, but you might not notice when it arrives. Change is in the works that will give Canadian consumers and businesses significantly more control over their financial data, including who they share it with, in what’s known as open banking. The federal government has promised framework legislation in next month's budget to bring the system to Canada after years of kicking the possibility down the road. Evangelists for the open banking