Abhishek Sinha, Partner at EY Canada and leader of Technology Strategy for Financial Services, shares key insights on the transformative power of open banking for Canadian SMBs. Open banking offers SMBs enhanced tools to manage cash flow, streamline payments, and expand internationally through faster cross-border transactions. Trust is critical—businesses need clear control and transparency over their data. Providers can build trust by offering precise consent mechanisms, robust security, and straightforward redress processes. With strong ecosystem collaboration and regulations, open banking is driving efficiency and growth, becoming central to SMB financial strategy in Canada’s digital economy.

https://canadiansme.ca/how-smbs-can-embrace-open-banking-in-canada/

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