Canada's consumer-driven banking (open banking) framework
The brief
Canada is moving to consumer-driven banking, where secure APIs replace screen scraping so people can share their financial data without handing over banking passwords.
The breakdown
Timeline
- November 6, 2025
Canada's framework for consumer-driven banking includes registered and non-registered investments
The framework set out under Budget 2025 covers chequing, savings, lending and both registered and non-registered investments.
- October 23, 2026
FCAC updates its consumer-driven banking guide
The Financial Consumer Agency of Canada updated its official page on consumer-driven banking, explaining how secure APIs will replace screen scraping and the rules on security, consent and complaints.
canada.ca
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