Open banking, the concept that would allow customers to share data held by their banks with third parties, such as other financial institutions or fintech companies in order to combine it with data from other sources to yield new benefits to those customers, is gaining traction around the world. But are Canadian FIs ready for it? Explore the concept and the compliance implications:
Anticipate and prepare for Open Banking and the Canadian regulatory response.
Prema Thiele is partner in the Toronto office of Borden Ladner Gervais LLP and is a member of the firm's Partnership Board. She practises corporate and commercial law, including securities law, insurance business law, and mergers and acquisitions. Prema is the Toronto Representative on BLG’s national Professional Committee (which administers BLG’s Professional Excellence Program).
Prema is a leading practitioner in the investment management industry, and represents several Canadian and non-Canadian capital markets participants on ongoing legal and compliance issues in respect of the provision of services, the distribution of securities and the establishment, operation and administration of investment products in Canada.
Prema is a native of Saskatoon, Saskatchewan.