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Open Banking in Canada – The Path to Implementation
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Page Title: | Open Banking in Canada – The Path to Implementation – C.D. Howe Institute |
Article Title: | Open Banking in Canada – The Path to Implementation |
URL: | https://cdhowe.org/publication/open-banking-canada-path-implementation/ |
Published Date: | September 10, 2020 |
Accessed Date: | February 9, 2025 |
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Related Topics
Open Banking Holds Promise, Risks for Consumers
- The path towards safe and secure implementation of open banking should be guided by three consumer-focused pillars: generating value for consumers, building secure infrastructure for data sharing, and improving the regulatory framework to protect consumers.
- Authors Thorsten V. Koeppl and Jeremy Kronick lay out a roadmap to guide Canada’s upcoming open banking consultations, and explore the potential benefits and risks to consumers.
- In the long run, for open banking to become an unequivocal success, Canada will require a fundamental and extensive overhaul of its regulatory framework, conclude Koeppl and Kronick. Open banking may very well be the catalyst to achieve such change.
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