Canada’s Financial Future, Explained.
News, insights and trusted resources covering Consumer-Driven Banking, open finance, fintech innovation, regulation, security and the future of financial services in Canada.
What is Consumer-Driven Banking?
Consumer-Driven Banking is a regulated Canadian framework that gives people and businesses greater control over their financial information.
With permission, financial data can be shared securely between participating financial institutions and approved service providers. This can make it easier to compare products, manage money, access innovative services and make informed financial decisions.
Consumer-Driven Banking is commonly known as open banking in other countries.
Your financial data should work for you—with your permission, under clear rules and through secure, regulated connections.
Why Consumer-Driven Banking matters
Eight important ideas shaping Canada’s financial-data sharing framework.
Consumers control their data
People and businesses decide whether their financial information may be shared.
Sharing is consent-based
Participating providers need authorization before requesting or receiving financial data.
Secure APIs enable sharing
Standardized technology connections provide a controlled alternative to credential sharing.
Bank of Canada oversight
The Bank of Canada administers the framework and supervises participating organizations.
Participation is regulated
Organizations must follow the pathway and requirements applicable to their participant type.
Better financial tools
Authorized data can support budgeting, comparison, financial-management and advisory services.
Competition and innovation
Easier, secure data portability can help new and existing providers offer more competitive services.
A foundation for open finance
Future phases may expand data types, participants and available financial functionality.
Latest Consumer-Driven Banking news
Follow regulatory announcements, industry developments, fintech innovation and implementation progress.
Understand Canada’s evolving framework
Explore plain-language guides, legal definitions, regulatory information and trusted external resources.
Government & Regulation
Explore the Act, proposed regulations and Canada’s policy framework.
Explore the framework SupervisionBank of Canada Oversight
Understand the Bank’s role, supervisory priorities and participant ecosystem.
Learn about oversight Consumer protectionSecurity & Privacy
Learn about consent, authentication, safeguards, privacy and secure data sharing.
Explore security ReferenceDefinitions
Search statutory and section-specific terms from the Consumer-Driven Banking Act.
Browse definitions Resource libraryResources Hub
Search government, industry, technical, privacy and cybersecurity resources.
Browse resources Industry coverageLatest News
Follow implementation, regulation, financial institutions, fintechs and global open banking.
Read the latest newsOfficial sources
Consult these primary Canadian sources for authoritative legislation, regulations and implementation information.