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ARTICLE · 11 MARCH 2019

Government Launches Review Into Open Banking

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On January 11, 2019 the Government released a consultation paper entitled "A Review into the Merits of Open Banking" (PDF) (Consultation Paper).

CanadaFinance and Banking
Koker Christensen
Koker Christensen
Stephen D.A. Clark
Stephen D.A. Clark
Craig Bellefontaine
Craig Bellefontaine
Nicolas Faucher
Nicolas Faucher
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On January 11, 2019 the Government released a consultation paper entitled "A Review into the Merits of Open Banking" (PDF) (Consultation Paper).

The Consultation Paper seeks stakeholder views on the following questions:

  • Would open banking provide meaningful benefits to and improve outcomes for Canadians? In what ways?
  • In order for Canadians to feel confident in an open banking system, how should risks related to consumer protection, privacy, cyber security and financial stability be managed?
  • If you are of the view that Canada should move forward with implementing an open banking system, what role and steps are appropriate for the federal government to take in the implementation of open banking?

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