FDATA in the News

Data aggregators and fintechs have taken heat in recent days on the subject of cybersecurity – and they say the criticism is unfair.

Multiple pending federal legislations seek to address online data privacy concerns, asking businesses to provide better safeguards and data sharing options for consumers.

The Financial Data and Technology Association (FDATA) of North America today announced it added five new members in June, bringing the association’s total membership to 22.

In May, Navdeep Baines, the federal Minister of Innovation, Science and Economic Development, announced a Digital Charter that presents 10 principles for modernizing the rules that govern digital technology in Canada.

President Donald Trump just traveled to London to talk trade, but it is Rep. Greg Meeks (D-NY) who has imported Britain’s best idea. Meeks, who heads the House Financial Services Subcommittee on Consumer Protection and Financial Institutions, is expected to introduce legislation before the July 4 recess to study how Open Banking can be brought to the U.S.

Canada is considering a move toward open banking, a formalized system in which consumers are empowered to share their bank-held data with third-party providers (TRPs) to encourage competition and innovation. If the experience in Britain is a guide, this advance will transporm the country’s economy and imp

In advance of a Canada Standing Senate Committee on Banking, Trade and Commerce hearing on March 21, the Financial Data and Technology Association today released a new paper, “Opportunities in Open Banking,” that outlines the benefits of open banking for Canadian consumers, businesses, financial institutions and the economy.

Millions of Canadians have turned to financial technology, or fintech, which provides intuitive, accessible platforms that enable even the least financially savvy consumers to manage finances and improve economic outcomes.

Steve Boms, executive director of the Financial Data and Technology Association, says standards should be developed for U.S. banks and fintechs to follow in open banking, to protect consumers.