Open Banking Concept

Creating an Open Banking Framework for Canada
Table of Contents
Executive Summary............................................................................1
Introduction........................................................................................2
What is Open Banking?..................................................................................................2
Driving Forces of the Open Banking Movement.........................................................2
Current Open Banking Methods in Financial Services...............................................3
Global Precedents and the Canadian Context.........................................................3/4
Guiding Principles...............................................................................5
An Open Banking Framework...........................................................6
Which accounts should be included?...........................................................................6
Who are the participants in the Open Banking System?...........................................8
What data and level of access are data recipients provided?...................................9
Which types of data (e.g., transaction, account balance, customer info)?............10
How is the system governed?.....................................................................................11
How does the system operate?..................................................................................14
Conclusion.........................................................................................17
Contributors......................................................................................18
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