Open Banking Rollout Presents Risks and Opportunities for Canadian Banks
Experts note that open banking’s gradual introduction may pose risks and offer benefits to Canada’s large banks, reshaping data sharing, operations and competition.
GMNA Montreal
Experts say Canada’s gradual rollout of open banking could bring both threats and benefits to the country’s major banks. The shift in how financial data is shared is changing banks’ operations and competition.
The analysis follows Canada’s slow implementation of open banking, prompting scrutiny of its impact on the nation’s biggest financial institutions.
