11:45 a.m. – 12:45 p.m.
Join our panel of industry experts, including Cormac Leddy, Senior Manager of Banking Technology at EY, Matt McGuire, Principal/Practice Leader with The AML Shop, Eyal Sivan, Head of Open Banking at Axway and known as Mr. Open Banking from his podcast, Michelle Winsor, Founder and CEO of Accelera Ecosystem and Member of the Open Finance Network, and panelist and moderator Robyn King, Director of Industry Relations for Payments Canada.
This discussion will explore the continuum from open banking to open finance, what open finance could mean for credit unions and some of the risks and opportunities that it presents for the system.
What you will learn:
Open banking has been around for some time, but to add to this complexity, many are now talking about open finance.
Open finance is the next step in the journey from open banking “read only” to “read and write” and will enable credit unions – with the consumer’s consent – to gain access to a customer’s entire financial footprint including data related to taxes, insurance, pensions and more.
Even though open banking has not been implemented in Canada, trends, technology and innovations move fast and the credit union system needs to be ready for what’s next. The opportunity that open finance presents for credit unions, should the sharing of consumer data for financial products and services move beyond banking, means credit unions need to start thinking about collaboration opportunities now.
Open finance could help increase transparency and financial inclusion for all Canadians and has the potential to drive system growth. Attend this session to learn what the future with open finance could look like, why credit unions are uniquely positioned to benefit and how to start getting ready for open finance now.