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Consumer Driven Banking Framework News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Open Banking: What New Consumer-Driven Banking Legislation Means For Fintechs in Canada

If your company is a fintech operating or hoping to operate in Canada with a business model that offers financial products, you should be aware that Canada s federal government has announced its intention to enact legislation that could apply to your organization. This impending legislation is the Consumer-Driven Banking Act CBDA, and it will set the foundation for a framework that enables consumers and small businesses to securely transfer their financial data through an API to approved service providers of their choice.

Open Banking: What New Consumer-Driven Banking Legislation Means For Fintechs in Canada | Bennett Jones LLP

Open Banking: What New Consumer-Driven Banking Legislation Means For Fintechs in Canada | Bennett Jones LLP
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