At the Payments Canada Summit in Toronto, Saba Shariff, head of new product development and corporate strategy at Symcor, a data-exchange company and joint venture of TD Bank, RBC and BMO, said that a hybrid approach is ideal for open banking, a system that would give consumers the ability to share financial data with a third-party provider. “This cannot just be a hop into an industry-led solution. It can’t also be just a regulatory-led solution,” she said. Rather it has to take the “best of what industry can do … and the best of what government can do.” (The Logic)
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