Consumer-driven banking implementation

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Open banking Canada working groups and steering committee

The final report of the Advisory Committee on Open Banking recommended that the open banking lead should be supported in this work through industry working groups that include balanced representation from banks, other prospective open banking participants and consumer representatives.

Additionally, a steering committee will meet on an as-needed basis, as assessed by the open banking lead, to discuss progress as well as issues outside the remit of the working groups.

There are four open banking working groups:


This working group will focus on the criteria, which organizations must follow in order to participate in open banking, and the process for proving adherence to these criteria.



This working group will focus on who is responsible for what when something goes wrong and how consumers access redress.



This working group will focus on key elements of the consumer experience, including how consumers provide and revoke consent to share their data, and how consumer data can be used pursuant to the consent provided.



This working group will focus on the baseline security requirements that participants must adhere to in order to participate in the open banking system.


Steering Committee

The scope of the Steering Committee differs from the working groups. Whereas the working groups are forums for select members to support the open banking lead in the development of accreditation and common rules requirements, the Steering Committee is a venue for broader discussion with all working group members on points such as general updates, progress made in a given working group or any other topic the lead deems fit. The Steering Committee is a consultative, rather than a decision-making, body.


Terms of reference for the open banking working groups and Steering Committee.

Progress update – December 2022

In addition to the open banking working groups, internal policy work on the future administration of the open banking system has been underway since the open banking lead's appointment. As recommended by the Advisory Committee on Open Banking, the open banking lead is actively working with the open banking secretariat within the Department of Finance as well as external experts to explore options.

The working groups have made good progress to date, showing clear consensus on some core elements of accreditation and common rules. The open banking lead and the secretariat will now transition their focus to a period of internal policy work. Working group meetings will resume in 2023.

Open banking lead

On March 22, 2022, the Hon. Randy Boissonnault, Minister of Tourism and Associate Minister of Finance, named Abraham Tachjian as Canada’s open banking lead. (Government moves forward with open banking and names a lead).


Minister Boissonnault has tasked Mr. Tachjian to develop a “made-in-Canada” regime based on the recommendations in the final report of the Advisory Committee on Open Banking. The establishment of an open banking system aims to give Canadians and businesses greater control over their financial data and be better equipped to manage their finances.

Mr. Tachjian will engage with industry, regulators, and consumer representatives to design and implement key pillars of the open banking system, including common rules and an accreditation framework for open banking participants.

Key responsibilities of the open banking lead

  • The open banking lead will engage stakeholders to develop an accreditation framework, a common set of rules, and technical standards for an open banking system. 
  • The lead will also provide advice to the government for the future ongoing administration of a system of open banking.
  • The lead will report to the Deputy Minister of Finance. 
  • The lead would be supported by a secretariat within the Department of Finance and supported by external experts, as required.

Biographical details

Abraham Tachjian has extensive experience in international banking. He is currently a Director in the Financial Services practice at PwC Canada. In this role, Mr. Tachjian supported the work of the Advisory Committee on Open Banking. Before joining PwC, he helped found Mox Bank, a new digital bank in Hong Kong, and was Director of Digital Banking of Standard Chartered Bank in Singapore where he was responsible for the implementation of emerging technologies.

Mr. Tachjian earned a B.A. from Concordia University, an LL.B in civil law from Université de Montréal, a J.D. in common law from University of Ottawa and a certificate in Chinese Law from China University of Political Science and Law in Beijing. He is a member of the Law Society of Ontario and the Barreau du Québec.

As a common law and civil law qualified lawyer, he brings a multidisciplinary approach that bridges the gap between banking, technology and law. He is a frequent speaker at conferences where he focuses on emerging topics in financial services such as challenger banks, regtech and open banking. International fintech companies and digital banks also describe Mr. Tachjian as a fintech leader with expertise in digital banking and law.

Contact us

For more information about the work of the open banking lead, please contact the Department of Finance at:

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