Q&A: How open banking could leave small FinTechs out (opens original article in a new tab)

FDATA argues for a sponsored accreditation model to prevent small FinTechs from being excluded in Canada's open banking system, which currently requires costly and complex accreditation for all providers.

• FDATA advocates for a 'sponsored' accreditation model to help small FinTechs in Canada's open banking framework
• The current accreditation process may exclude small FinTechs due to high costs and regulatory requirements
• A sponsored model would allow small FinTechs to partner with aggregators to meet regulatory standards