A lot of excellent information was presented. Great resource material to follow up on. - Associate Vice-President, Financial Services
University of Saskatchewan

Canadian Open Banking Forum

Explore the Opportunities, Reap the Rewards, Avoid the Risks

April 21 - 22, 2020 · Toronto, Ontario
Day One Program Agenda: Tuesday, April 21, 2020
8:00 - 9:00        Registration and Continental Breakfast
9:00 - 9:15
Welcome and Opening Remarks from the Chair
9:15 - 10:00
The Open Banking Opportunity Index – Where is Canada? Now and Into the Future?
Abhishek Sinha, Ernst & Young – Canada Partner, FSO Advisory
  • What do we know about today’s financial services consumers?
  • Are consumers clamouring for new services?
  • How customer-centric is Canadian banking?
  • The millennial outlook and expectations for future demand
  • How can we encourage digital adoption?
  • The value proposition in Canada compared to other countries
  • Need for innovation in law, policy, and technology
10:00 - 10:45
Going Beyond PIPEDA in Support of Open Banking: New Legal Framework for Privacy and Cyber Security
Imran Ahmad, Partner, Blake, Cassels & Graydon LLP

Although Canada has some digital law and policy frameworks in place, they are dated, underdeveloped and insufficient for leading the charge on technological challenges — open banking included. This session will deal with the changes in the law required for open banking.

  • Data portability under Europe’s General Data Protection Regulation (GDPR)
  • What significant amendments must be made to the Personal Information Protection and Electronic Documents Act (PIPEDA)
  • The Digital Charter
10:45 - 11:00        Networking Break
11:00 - 12:00
Customer Authentication, Consent and Control of Personal Information
Greg Wolfond, CEO, SecureKey Technologies Inc.
  • Identity management using Verified.Me to keep the customer in control
  • Restriction on sharing
  • Consent for a specific purpose
  • Encrypted information made available in real-time
  • Strong security protocols to protect personal information from being identified, accessed or misused
  • ISO and global standards to match rules in other jurisdictions
12:00 - 1:00        Luncheon Break
1:00 - 1:45
Standards for Third Party Accreditation
  • Open Banking Implementation Entity
  • Accreditation for third parties qualified to access and handle customer data
  • What standards should be required of third parties?
  • Developing consistent standards
  • What will the impact be on inclusivity?
1:45 - 2:00        Networking Break
2:00 - 3:00
Open Banking: What Will the Impact of Banks Becoming Platforms Be on Competition in the Financial Sector?
Moderator/Speaker: Alexander Vronces, Policy Analyst, Payments Canada
Shaun Byck, Economist, Payments Canada
Marie-Helene Briere, Competition Law Officer, Competition Bureau of Canada
  • Where does open banking fit in the broader context of data, privacy and competition in the digital economy?
  • Will large banks that become banking platforms create more competition and level the playing field?
  • Or, will banks ultimately give regulators and antitrust practitioners reason to worry about lack of competition?
  • Will open banking render the banking sector more or less competitive that it is today?
  • Are consumers realizing the full benefits of a competitive environment and new technology?
  • Will data portability and interoperability allow comparison shopping, account switching, access to new or improved applications?
  • Impact of open banking on security and stability
  • Views and expectations of regulators – Do they have the tools they need to ensure competition and manage security risks inherent to open banking
3:00 - 4:00
Learning from Other Jurisdictions – The U.K Model
  • U.K. Regulations applying APIs across the 9 biggest financial institutions
  • Privacy and information security
  • Prescriptive versus principle-based approaches
  • Impact to date
  • Data portability as a new right under Europe’s General Data Protection Regulation (GDPR)
  • Data security measures
  • What can Canada learn from the U.K’s experience?
4:00        End of Day One





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