Event summary produced by The Globe and Mail Events team. The Globe’s editorial department was not involved.
How will open banking transform financial services for consumers, businesses and fintech companies?
The Globe and Mail hosted a half-day hybrid event in Ottawa on October 18 to provide financial service professionals, tech innovators, business, policy and consumer advocates with an update and potential action plan for open banking implementation.
Missed the live event or would like to view it again? Scroll down to the videos below.
Rita Trichur, senior business writer and columnist with The Globe and Mail opened the event with a conversation with The Honourable Colin Deacon, Senator for Nova Scotia. Senator Deacon talked about the numerous opportunities posed by open banking for consumer convenience and for financial inclusivity for Canadians such as newcomers.
Following the interview Ms. Trichur then hosted a panel of financial and privacy experts to discuss data security in the era of open banking. The panel included Oscar Roque, vice president of strategy and emerging solutions with Interac Corp.; Sandy Kyriakatos, chief data officer with Equifax Canada Corp.; and Elizabeth Sale, partner with banking and financial services with Osler.
James Bradshaw, banking reporter with The Globe and Mail, then took to the stage to host a panel discussion focused on accreditation and liability. The conversation covered strategies to assess and accredit open banking participants such as fintech companies, along with liability in the event of data breaches.
The panel included Andrew Graham, co-founder and CEO of Borrowell; Cathy Ly, vice president of customer experience and digital banking operations with Equitable Bank; and Atul Varde, chief information and payments officer with Servus.
Mr. Bradshaw then shifted to a conversation about governance, sitting down with Alexander Vronces, executive director of the Paytechs of Canada Association; Stephane Bousquet, leader of open banking and digital ID with National Bank of Canada; and Emma Purdy, senior partner and management consultant with Global Governance Advisors.
The group covered points such as governance best practices, and the importance of establishing the right approach before open banking is well established in Canada. To close out the event, Abraham Tachjian, Canada’s open banking lead, provided an update on progress toward open banking to date.
View the replays of the full afternoon below:
The Globe and Mail presented the event with support from Interac Corp. To learn about upcoming Globe and Mail events visit www.globeandmail.com/events.