Open Banking Initiative Canada (OBIC) exists to develop a market-driven open banking framework in Canada that will make consumer empowerment possible in our country. We are a not-for-profit organization gathering great minds in finance, technology and regulation, creating a groundswell that will be a force for good, giving Canadian consumers choice and control over their financial data.
Our membership is both broad and inclusive, including fintechs, banks, credit unions, paytechs, regtechs, emerging industries and international thought leaders. OBIC membership offers each of these groups first-mover status in what will soon be a revolutionary change in the financial services industry. Additional benefits offered have been designed to deepen each members’ engagement and sphere of influence in Canada’s evolving open banking arena.
You want to help shape open banking in Canada
You want to advocate for open banking in Canada
You want to drive forward open banking in Canada
Open banking is a global movement to empower consumers with control over their financial data. This control gives consumers freedom to share their personal data with third-party companies that can then use that data to provide alternative financial services that make it easier for consumers to move, manage and control their money. This will in turn provide them with greater choice, control and personalized financial services. The concept of open banking is also referenced as Consumer Directed Finance (CDF) in Canada, a suggestion made by the Department of Finance after the first public consultation in January 2019.
The benefits of open banking include
improved financial control, customer
experience, new revenue streams,
and a sustainable service model for
underserved markets. Open banking
will build a foundation of security,
trust and financial innovation that
will evolve and strengthen the
diverse fabric of our Canadian
economy and the financial
stewardship of all Canadians.
OPTIONAL SPONSORSHIP PACKAGE FOR ALL LEVELS
JOIN OUR WORKING GROUPS
Newsletter & Research
This group is responsible for conducting research relevant to Open Banking as well as putting together OBIC’s monthly newsletter.
Marketing & Events
This group is responsible for organizing and executing OBIC’s marketing efforts as well as our involvement in events across financial services around the world.
National Standard and Technology
This group is responsible for discussing, enabling and moving forward a national standard for Open Banking in Canada.