Sunday, June 16, 2024

Open Banking Expo partners with EY on a new series of in-person Canada Meetups

Open Banking Expo, the leading global community of Open Banking and Open Finance executives behind the Open Banking Expo Canada, has announced the renewal of a partnership with consulting and accounting giant Ernst & Young LLP (EY Canada) to deliver in-person Meetups for the Open Banking, Open Finance and Open Payments industry in Canada.

Having launched virtually in June 2021, Open Banking Expo and EY Canada will host a series of four free-to-attend live Meetups, starting with the first gathering on June 14 in Toronto.

Adam Cox, co-founder of Open Banking Expo, said: “We are thrilled to work with EY Canada once again not only to bring together pioneers, entrepreneurs and visionaries who fill our industry for important and informative discussions, but also to engage more meaningfully with regulators and the wider community to support Canada on its Open Banking and Open Finance journey.”

Abhishek SinhaEY Canada Banking Technology Consulting Lead, commented: “As the leading industry community for Open Banking and Open Finance, the Open Banking Expo, is an excellent collaborator for us, and we look forward to working together to advance and accelerate Open Banking adoption in Canada.”

The Meetups will take place at what is an important moment for Open Banking in Canada. Ten months after the Advisory Committee on Open Banking recommended an Open Banking lead should be appointed to convene the industry and advance Open Banking adoption, the Department of Finance Canada last month announced the appointment of Abraham Tachjian to the role with responsibility for overseeing the implementation of a made-in-Canada Open Banking regime.

He comes to the job after having supported the work of the Advisory Committee on Open Banking, which in 2018 was tasked by the Canadian Government to review the merits of Open Banking, during his time as a director in the financial services practice at PwC Canada.

Just hours after Tachjian’s appointment, Canadian national forum the CIO Strategy Council published a proposed draft standard for Open Finance, inviting input from stakeholders.

The draft standard specifies minimum requirements for planning, designing, developing, implementing, maintaining, and improving the customer experience and access to customer banking, transaction, and other financial data from bank and non-bank financial institutions, according to the CIO Strategy Council.

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