Open Banking in Canada: Gauging Consumer Readiness in association with EQ Bank

30 Nov 2022

Open Banking Expo has once again teamed up with EQ Bank to bring you fresh insights in our latest joint report. But this time we asked Canadian consumers directly about their relationship with their banks and other financial institutions, their perceived value of the financial products and service offerings available to them, and whether they believe there is any value in Open Banking for them. To do that we surveyed over 1,300 Canadians to help us understand the current sentiment and level of understanding of what Open Banking is all about, how likely they would be to use Open Banking applications, and what potential concerns around Open Banking they may have. We also heard from EQ Bank executives – CEO Andrew Moor, group head of personal banking Mahima Poddar, and VP of customer experience and digital banking operations Cathy Ly – about what needs to happen to get Open Banking in Canada over the line and start utilising its full potential to help consumers.