The Honourable Chrystia Freeland, P.C., M.P. Deputy Prime Minister and Minister of Finance 90 Elgin Street Ottawa, Ontario K1A 0G5 November 10, 2023 Minister Freeland, The time is now for the federal government to decide what steps it will take to give Canadians more access to affordable financial services, while protecting their privacy and financial security. Canada began consulting on ways to do this as part of its work on “open banking” — a key facet of “open finance” — more than five years ago. With the consultations and the report of Canada’s open banking lead, Abraham Tachjian, now complete, … Continue reading Fintechs Canada letter to Government Nov 2023

Open Banking Landscape Part 1 – Dec 2023 Henderson, Colin. “Open Banking Landscape, Analysis, Stakeholders Challenges, Options.” Medium, 10 Dec. 2023, https://colinhenderson.medium.com/open-banking-landscape-analysis-stakeholders-challenges-options-4c9c63ee2cce. pdf Continue reading My Research papers

This will surely be the largest story for some time following one of the largest trading banks being frozen by a malware attack. Bank employees carrying trades on a USB stick to share with their trading partners. Operational impacts of the USB workaround are complex and introduce different risks Even that activity introduces a whole new set of issues when employees from ICB appear on the doorstep of Bank B with a USB. First question .. which computer in Bank B has a computer that can be trusted to accept the USB? Does Bank B even have an available USB … Continue reading Welcome to the chaos of manual trading caused by CyberAttack

Arab Monetary Fund The Arab Monetary Fund have produced a comprehensive set of guidelines for Open Banking deployment and have included Open Finance as a natural component in that evolution. As Open Banking evolves in the global marketplaces the Middle East as I have earlier noted is a leader and general its starting point on the journey has the opportunity to leapfrog European, Australian and North American efforts, lever and build on that knowledge and set new standards that early adopters would do well to consider in their evolution. For snippets from the Executive summary see Appendix.1 Themes to be … Continue reading Guidelines for Effective Open Banking/ Finance Adoption

Cross posted from Medium I was working on a paper which had its origins in making the case for a comprehensive Open Banking offer but I ran into a challenge and basically got stuck. That was May 2023. My mission for the paper had its origins in various private and government sites where I was able the gain insight to the state of Open Banking in UK, EU, Canada and Australia. Canada had a special appointee on secondment from PWC to address Canada’s position and approach. Everything seemed positive. On deeper analysis however there were cracks in the global picture. … Continue reading Open Banking 2023 landscape, analysis and future prospects