As Canada prepares to implement a groundbreaking open banking framework, Steven Boms of the Financial Data and Technology Association of North America, offers his insights on how this shift promises to boost competition and safeguard consumer rights.

In this episode, Boms shares the critical moments that have shaped Canada's open banking legislation while highlighting the key hurdles, risks and regulatory complexities still to come.

This interview was recorded on April 21, 2026.

0:00 - Introduction to Canada's open banking ambitions

0:30 - Critical regulatory areas for successful implementation

2:25 - Canada's unique approach: central role of the Bank of Canada

4:20 - How banking concentration influences competition

6:17 - Industry shifts during the bill's passage process

8:33 - Resistance, collaboration, and public perception

10:19 - Risks of standards missteps and stakeholder siloing

11:27 - The future of DeFi and TradFi integration

13:00 - Early signals for Canada's international competitiveness

14:02 - Expected pace of implementation and strategic moves

15:10 - Common misconceptions and evolving data rights perception

16:04 - Possible conflicts between banks and DeFi in Canada

16:58 - Outro

________________________________________________________________

Some links may be affiliate links. Investing News Network may earn a commission at no additional cost to you.

________________________________________________________________

The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.