TORONTO -- A government working group on so-called open banking recommends that a regulated system for sharing personal financial data with third parties like robo-advisors and budgeting apps be put in place by 2023. The report released Wednesday by the Advisory Committee on Open Banking said that the timeline is "ambitious" but that it's important to roll out a system quickly because technology has outstripped regulation in a rapidly changing financial services industry. More than four million Canadians already use some form of open banking -- which involves granting third-parties such as financial technology companies access to bank data -- but that some current practices create security and liability risks.