Open Banking Initiative Canada (OBIC), which has been advocating for secure data sharing in Canada for the past three years, has rebranded to Open Finance Network Canada (OFNC) to reflect the increased scope of its work, as revealed at the Open Banking Expo Canada Meetup on 13 September.
The organisation said it is taking on “a larger mission to focus on advocating and educating on the benefits of Open Finance for Canadian consumers and SMEs with our new name”, following the appointment of Abraham Tachjian as Open Banking lead in Canada earlier this year.
Speaking at the meetup in Toronto, OBIC board member Michelle Beyo also announced that co-founder of OBIC Christian Clapton is stepping down as president.
Mr. Clapton shared: “It is with great pride, immense gratitude that I resign from my position as president of OBIC and will remain an advocate for this cause for good that we started in late 2018. I am grateful for the incredible people who engaged with OBIC and look forward to seeing the impact Open Finance Network Canada can have with their expanded mission for Canadians.”
He has left to focus on other endeavours.
Beyo will be stepping in as interim president at OFNC.
She has been a member of the board of directors and co-chair of OBIC for the past two years, and is the founder and CEO of Finavator.
At the meetup, Beyo said: “I am thankful to Christian for passion and vision on starting the organisation and honoured to continue my role as board member and to focus on helping bring in a permanent president and chair of the board.”
She added that it is “an important moment for businesses and consumers across Canada to have visibility and control of their financial data so that Canada can continue to be a safe place for consumers and businesses to prosper and grow”.
To register your interest for the next Open Banking Expo Canada Meetup on 16 November 2022, click here.