GFT Technologies and Ozone API have partnered to “guide” Canadian institutions through the implementation of Open Banking with an end-to-end solution.
The partnership combines GFT’s experience in advanced data and AI transformation solutions with Ozone API’s open API platform to help banks become Open Banking compliant.
In Budget 2025 delivered in November last year, the federal government committed to “advancing” Open Banking in Canada by introducing legislation to complete the Consumer-Driven Banking Act.
Ozone API co-founder & chief executive officer, Huw Davies
The founding team at Ozone API were behind the first global Open Banking standard in the UK and GFT is teaming up with the company now to bring the platform to North American institutions amid the growth in Open Finance initiatives.
According to GFT and Ozone API, their end-to-end solution for Canadian banks will remove the complexities of delivering open APIs, enabling those institutions to streamline the introduction of Open Banking technology and automatically commercialise, while remaining compliant with regulatory standards.
The two companies highlighted that many banks are “stalling” their investments in the new technology, in part because they “lack the specialist resources to handle the technical complexities of new regulatory compliance, heightened security requirements and customer data-sharing consent”.
André Gagné, chief executive officer, GFT Canada
“Open Banking offers significant potential for Canadian financial institutions, provided they have the right technology to manage and use the data it introduces,” said André Gagné, chief executive officer Canada at GFT.
“While Canada advances toward a standardized framework, institutions still face important steps on the path to full implementation. Tools like the Ozone API platform help bridge those gaps by simplifying integration, supporting compliance, and accelerating value generation. It provides a strong foundation for financial institutions as Open Banking gains momentum nationwide.”
Huw Davies, co-founder and chief executive officer of Ozone API, added: “Our goal from the start has been to help financial institutions to quickly and simply deliver open APIs that meet regulations, but also to go beyond compliance to unlock commercial value.”
Davies said that, with Open Finance “picking up steam globally”, banks have the opportunity to “reimagine” how they engage with customers and help them to get more from their finances.
“We are dedicated to bringing North American banks into this fold, accelerating their Open Banking journeys through our work with GFT,” Davies said.
Hear Huw Davies on the Open Banking Expo Unplugged podcast series as he discusses ‘How to monetise Open Banking and Open Finance’ – listen to the episode in full.
Ozone API is an Associate Partner of Open Banking Expo Canada 2026, which takes place on March 5, at the MTCC in Toronto. Find out more and register to attend here.
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