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29 Apr 2024

Open banking could spur competition, but fintechs say Canada’s moving too slowly

Author: admintech | Filed under: Finance/ Money
ATMs are pictured along Queen Street in Toronto in 2015.

Federal efforts to bring “open banking” to Canada are being welcomed by players in the industry — but there’s also criticism that, after years of waiting, any changes may not come fast enough to encourage innovation or allow smaller financial players compete with larger institutions.