Big banks, challengers jockey for position as government plans open banking rollout

Conservative MP Adam Chambers says open banking will encourage more competition in the financial sector and generate more choice for consumers.

Associate Finance Minister Randy Boissonnault's mandate letter includes a commitment 'to launch a made-in-Canada model of open banking by early 2023.'The Hill Times photograph by Andrew Meade

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BY KEVIN PHILIPUPILLAI

September 16, 2022

There has been “substantial work” done in recent months to meet the government’s promise of an open banking system for 2023, say stakeholders involved in the consultations, but the process has also been marked by disagreements between established financial instit...

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