Digital ID and Open Banking Dialogue Sessions - Standards Council of Canada - Canadian Data

Participants were then invited to contribute to a conversation focused around two main areas of discussion, namely: - the current situation of digital ID and open banking in Canada, including existing challenges, opportunities, rules and standards; and, - the ideal future state, from the desired benefits for consumers to the laws and regulations needed for effective digital ID and Open Banking fra. [...] Participants were then invited to contribute to a conversation focused around two main areas of discussion, namely: - the current situation of digital ID and Open Banking in Canada, including existing challenges, opportunities, rules and standards; and, - the ideal future state, from the desired benefits for consumers to the laws and regulations needed for effective digital ID and Open Banking fra. [...] Effective governance and oversight, and the need for consistent rules, regulations and standards that are aligned across jurisdictions Following is an example of a completed whiteboard from one of the sessions: 6 Current State of Digital ID and Open Banking In the first half of breakout group discussions, participants were asked to provide their views on the current state of digital ID and Open Ba. [...] Some participants expressed that Canada is extremely well-positioned to adapt and take advantage of emerging technologies and digital solutions and to become a leader in the areas of digital ID and Open Banking. [...] Several participants noted the consumer benefits that could be realized, citing examples of people living and working in different regions across Canada and other countries being able to have access to their digital ID and personal and financial data to access local services.