“Most Canadians don’t know what open banking entails or how their banking information would be used,” said Kyriakatos. Open banking, a framework where banks enable permissioned sharing of client data with other institutions, holds the promise of providing Canadians with richer and more inclusive banking experiences, but there’s a significant challenge. On August 4, 2021, the Department of Finance released the Advisory Committee on Open Banking’s final report, recommending that Canada move forward with open banking and implement it by January 2023. As a non-FI member of FDX, Equifax has a unique ability to bring the industry together given its work with both Financial Institutions and Fintechs in Canada. FDX is dedicated to unifying the financial industry (FI) around a common set of open banking standards. A member of FDX since 2020, Equifax Canada’s Chief Data Officer, Sandy Kyriakatos, has been appointed to the non-profit organization’s board of directors.
03, 2022 (GLOBE NEWSWIRE) - Equifax Canada is deepening its commitment to promote a consent-based approach to open banking and educating Canadians on consumer-led banking by expanding its engagement with Financial Data Exchange. Chief Data Officer Sandy Kyriakatos Appointed to FDX Board
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