At Open Banking Expo Canada 2025, Saba Shariff, senior vice president, chief strategy, product & innovation officer at Symcor, delivered a powerful keynote urging industry leaders and policymakers to act with urgency and unity to realise Canada’s Open Banking ambitions.
Speaking on behalf of headline partner Symcor, Shariff set the tone with a stark message: “Canada is falling behind.” She cited a drop from 6th to 18th in OECD productivity rankings and ongoing innovation stagnation as clear signals that it’s time to move beyond pilots and fragmented efforts.
The call? To build the robust digital infrastructure needed to support a modern, inclusive economy.
Shariff made a compelling case for Open Banking as a national economic lever, pointing to international models – from Singapore’s Smart Nation initiative to India’s India Stack and UPI, and Brazil’s Pix – as proof that coordinated digital strategies can drive GDP growth and greater financial inclusion.
“This is about giving Canadians the tools, the protections, and the control that they deserve in a digital economy, the benefits of which are clear,” Shariff told delegates.
“Technology equals sovereignty,” she said, warning that continued reliance on outdated methods like screen scraping is no longer compatible with Canada’s G7 status.
A major highlight of her address was the launch of COR.CONNECT—Symcor’s secure, consent-based API solution designed to replace screen scraping. Built to FDX standards and engineered for interoperability, COR.CONNECT is positioned as a foundational infrastructure for Canada’s Open Banking framework.
“It’s infrastructure for confidence, for collaboration, for Canada’s digital future,” Shariff said.
While acknowledging progress – including the passing of legislation, the appointment of an oversight entity, and growing government support – Shariff emphasised that execution remains the missing link: “The partnerships exist; now we scale them.”
Survey data released in partnership with Open Banking Expo backed up her message. While 82% of organisations are piloting Open Banking initiatives, only 8% feel very prepared. Over half are already forming partnerships, and 57% cite improved customer experience as their main driver.
Shariff closed with a rallying cry for collective action: “Open Banking is more than a bridge. It’s the connection between trust and innovation, between privacy and possibility, between risk and reward. Let’s not watch others cross that bridge. Let’s lead together.”
As Canada edges closer to implementation, her call to action serves as a timely reminder: bold execution, grounded in collaboration and purpose, is critical if Canada is to lead – rather than follow – on the global Open Banking stage.
Watch: Open Banking Expo Canada 2025 – Expo Unplugged with Saba Shariff
