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Safeguarding your organisation and realising the benefits of Open Banking
The Canadian Credit Union Association (CCUA) participated in the Department of Finance’s 2019 consultation on the merits of Open Banking. It found that Canadian credit unions are supportive of the introduction of an Open Banking regulatory framework to benefit their members and Canada as a whole.
Here we sit down the Large Credit Union Coalition to bring Open Banking to life as we look to the provinces and their role in the future marketplace.
We’ll discuss;
- Modernisation; Open Banking could help reduce the costs of complying with the various regulations that exist
- Competition; An Open Banking framework creates competition, providing space for smaller outfits. It could therefore increase Canadians’ awareness of the credit union alternative.
- Digitisation and Digital ID; Open Banking should be introduced in lockstep with or after the implementation of a cross-sectoral Digital ID system. Doing so will increase trust and better socialise and expose Open Banking to Canadians
To watch the conference session, please signup for On Demand or login
Kevin Morris
Kevin Morris
Strategy and Programs Director Large Credit Union Coalition (LCUC)Kevin Morris is the Strategy and Programs Director for the Large Credit Union Coalition (LCUC). Kevin currently works on Open Banking and Digital ID strategy for Canadian credit unions. Previously, he served as the Manager, Data Analytics at the Canadian Credit Union Association (CCUA). He is a member and the former chair of the Outreach Expert Committee at the Digital Identity and Authentication Council of Canada.
Gene DiMira
Gene DiMira
Head of Global Compliance AMLATF Program The AML ShopGene is The AML Shop’s Chief Identify Officer and delivers a “digital first” philosophy by creating a balanced hub where digital ID and AML strategies intersect. As one of Canada’s leading voices in the anti-money laundering (AML) industry Gene has spanned much of his career designing, implementing, and sustaining AML/ATF programs and digital identity programs nationally and internationally. This includes his published whitepaper on Digital Identification Methods Testing and AML Programs.
Gene started his career running the systems, operations and compliance controls for financial planning firms offering securities, banking and insurance products. His compliance focus progressed with a global insurer, where he most recently served as the Head of Global Compliance AMLATF program, responsible for the program design, relationships with AML vendors and working with Industry peers to respond to government and FATF consultations for both AML and identity.
He currently volunteers in the following capacities: ACAMS Faculty, Chair, IIROC CCLS AML Working Group; Co-chair, DIACC Outreach Expert Committee; Member, Sovrin Foundation Compliance and Inclusive finance working group.
