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Category Archives: Open Banking

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2018 Federal Budget: Focus on Data and Data-Driven Technologies

Posted in AI and Machine Learning, Big Data, Cybersecurity, Open Banking

A strong theme in the 2018 federal budget (“Budget”) released last week was its emphasis on data and data-driven technologies…and the corollary theme, keeping data and data-driven technologies secure. Below are some of the data-focused highlights of the Budget. Open Banking “Open Banking” refers to an emerging financial services business model that focuses on the… → Read More

Budget 2018: Financial Institutions Update

Posted in Financial, Open Banking

The 2018 federal budget (the “Budget”) announced a number of measures directed to the financial services sector, including plans to modernize the deposit insurance framework, to implement a resolution framework for Canada’s systemically important financial market infrastructures (“FMIs”), to undertake a review of open banking, to introduce legislative amendments to implement a new framework for… → Read More

Fintech Regulatory Developments: 2017 Year in Review

Posted in Big Data, Competition, European Union, Financial, FinTech, Legislation, Open Banking, Virtual Currency

As predicted in our 2016 year-end report, 2017 proved to be a busy year for Fintech in Canada, with a number of important regulatory developments. With the dawn of 2018, we look back to summarize some of 2017’s most notable Fintech regulatory developments in Canada, as well as developments to watch for in 2018. What We… → Read More

Canadian Competition Bureau Releases Fintech Report for Consultation

Posted in Big Data, FinTech, Open Banking

On November 6, 2017, the Competition Bureau (Bureau) released a draft report on its market study into technology-led innovation in the Canadian financial services (Fintech) sector.[1] The Bureau has invited feedback from interested parties only until November 20, 2017, an uncharacteristically short comment period. Financial services are an area of interest for the Bureau due… → Read More

U.S. Consumer Financial Protection Bureau Sets Out Principles for Consumer-Authorized Data Sharing and Aggregation

Posted in Big Data, FinTech, Open Banking

On October 18th, 2017 the U.S. Consumer Financial Protection Bureau (“CFPB”) outlined the principles to be followed (“Principles”) when consumers authorize third party companies to access their financial data to provide certain financial products and services. These principles will be of particular note to the Fintech sector, in which a significant number of companies incorporate… → Read More