National Newswatch

In Face of COVID-19, Fintech Important Tool for Canadians

Mar 30 2020 — Steve Boms — Parliament is in recess. The border with the United States is largely shut down, and millions of Canadians are being urged to stay at home as policymakers across the provinces attempt to stem the tide of COVID-19 cases. With their mobility restricted, housebound families, retail businesses, and teachers have turned to apps to get them […]

Industry-Led Groups Only First Step to Open Banking

Jan 28 2020 — Steve Boms — The era of open banking—where consumers and small businesses have full control of their financial data—is upon us. The United Kingdom, Australia, and the European Union have led the way, but there is now work afoot in the United States to establish private sector working groups to begin to design voluntary open banking standards. But […]

Open Banking: Consumers Must Have Right To Share Data

Mar 8 2019 — Steve Boms — Millions of Canadians have turned to financial technology, or fintech, which provides intuitive, accessible platforms that enable even the least financially savvy consumers to manage finances and improve economic outcomes. Fintech applications allow Canadians to see the totality of their financial accounts in one place, find lower loan rates or better loan terms or avoid […]

For Canadian Consumers and Small Businesses, Open Banking is the Way Forward

Oct 8 2018 — Steve Boms — The national budget passed by Parliament this February requires the Department of Finance to offer findings and recommendations for a move toward open banking. Lawmakers didn’t set a deadline, but Finance Canada is already engaging with industry stakeholders to solicit input. Canada’s movement toward open banking cannot come soon enough. The march toward open banking […]