News Summary

Canadian FinTech leaders express cautious optimism about the potential for open banking and payments modernization under Prime Minister Mark Carney, given his history of supporting FinTech innovation in the UK. Despite past delays and unfulfilled promises, the Canadian FinTech community hopes Carney’s experience will lead to progress in implementing open banking and a Real-Time Rail payment system. While Carney’s government has larger geopolitical issues to address, the Department of Finance has shown a willingness to listen, offering some confidence in future developments.