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Briefing

Canada’s open banking lead gets extension to finish work on changes to financial system

Abraham Tachjian, whose term was scheduled to conclude at the end of September, announced on LinkedIn Tuesday that he will continue in the role until the end of the year. (The Logic)

Briefing

Canada’s open banking lead gets extension to finish work on changes to financial system

By Leah Golob
Oct 3, 2023
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Abraham Tachjian, whose term was scheduled to conclude at the end of September, announced on LinkedIn Tuesday that he will continue in the role until the end of the year. (The Logic)

Talking point: In March of last year the federal government appointed Tachjian, PricewaterhouseCoopers Canada’s director of digital banking, to spearhead development of a new, made-in-Canada system that would let fintechs access financial data that’s been traditionally controlled by the banks. The government has not updated the industry or the public about its plan for open banking, leaving many in the sector uncertain about its future. Tachjian said in his post that he remains committed to open banking and “will continue to work with all stakeholders to make it a reality in Canada.” Andrew Graham, CEO of Toronto-based fintech Borrowell, told The Logic Tachjian has “consulted thoroughly and widely” in his role, and that while his continued involvement is welcome, “what we need now is for the minister of finance to clearly communicate the path forward for open banking in Canada.”

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