Zenbooks’ Eric Saumure launches SME campaign for inclusion in Canada’s Open Banking framework

Source: OpenSME

OpenSME, a national advocacy campaign to ensure small and medium-sized enterprises (SMEs) are represented in Canada’s forthcoming Open Banking framework, has launched.

Founded by Eric Saumure, chartered professional accountant, and principal at Zenbooks, OpenSME aims to give Canadian entrepreneurs the same advantages already enjoyed by small businesses in other G7 countries:

Eric Saumure, chartered professional accountant, and principal at Zenbooks

• Faster payments
• Lower fees
• Fairer access to credit

While the federal government is moving toward Open Banking, there is a risk that the initial rollout could focus solely on consumer accounts – leaving SMEs behind.

OpenSME is calling for:

• Clear implementation timelines
• Inclusion of small business accounts in phase one of Open Banking
• Clear privacy/security education budget to help small businesses feel confident sharing their data

“Our small businesses are the backbone of the Canadian economy. If they are excluded from Open Banking, we’re missing a huge opportunity for growth, innovation, and competitiveness,” said Saumure.

OpenSME has launched a Change.org petition to gather support from entrepreneurs, accountants, and the public, ahead of the government’s consultation deadline of August 28, 2025.

Hear more from Eric Saumure on the Open Banking Expo Unplugged podcast, alongside Xero’s Mike Cascone: How can Canada’s small businesses benefit from Open Banking?