Open Banking Initiative Canada (OBIC) has teamed up with Open Banking Expo, with the aim of advancing Open Banking and open finance in Canada.
The partnership comes shortly after the Canadian Advisory Committee on Open Banking published its final report with recommendations for Open Banking adoption in Canada.
Over the past two years OBIC, which is a not-for-profit organisation seeking to progress Open Banking as an innovative and inclusive force for good in the country, has been working with industry participants and players to establish and assess technologies and standards best suited for Canada’s financial system and economy.
It has also been working to establish a framework of trust between fintechs, banks and other financial institutions, technology providers, and regulatory bodies to benefit Canadian consumers.
OBIC board member Michelle Beyo said: “We are pleased to partner with Open Banking Expo to help leverage our expertise, relations and experience in the sector to continue to advance Open Banking in Canada and around the world.”
She added: “At OBIC, our mission is to be a single voice for the financial services industry that represents the viewpoints of its key participants: consumers, fintechs, payment services, banks, and industry experts.”
Adam Cox, co-founder and CEO of Open Banking Expo, said: “It’s hugely important to have a strong community in Canada to bring the industry together to finally see Open Banking take root in the country, and we look forward to playing our part in this.
“Our advisory board includes industry innovators, disruptors and visionaries who help us ensure what we bring to market is relevant, incisive and drives the adoption of Open Banking and open finance across the globe.”
Open Banking Expo is a global community of Open Banking and open finance executives responsible for digital transformation across the financial services sector.