Panel 6 : CANADA'S UNIQUE OPEN BANKING MODEL

INTRODUCTION
Abraham A. Tachjian, Director - Financial Services - Head of Open Banking, PwC
PANEL
Franck Descubes, Vice-President, Business Consulting, Digital transformation and strategy, CGI
Saba Shariff, Senior Vice President, Chief Strategy, Product & Innovation Officer, Symcor
MODERATOR
Corey B. Davis, Managing Director, Investment & Corporate Banking Technology Group - Head of Fintech, BMO Capital Markets
As the global financial landscape evolves, Canada is carving out a distinctive approach with its open banking model, designed to balance innovation, security, and consumer empowerment. This model aims to foster competition and collaboration among financial institutions while ensuring robust data protection and user control. What are the core principles and objectives behind Canada’s open banking framework? How does this model differ from open banking initiatives in other countries? What are the potential benefits and challenges for consumers, financial institutions, and the broader economy in adopting this unique approach?