News Summary

Eric Saumure, co-founder of Ottawa-based accounting firm Zenbooks, has initiated OpenSME, a campaign to advocate for the implementation of open banking in Canada, focusing on the needs of small businesses. OpenSME seeks to pressure the federal government to establish clear timelines and policies for open banking, which would allow small businesses to access real-time banking data, improving their ability to forecast finances, obtain loans, and track payments. Saumure’s campaign has gained support from tech companies like Xero and Dext, emphasizing the importance of designing an open banking framework that benefits both small businesses and their financial advisors. Despite past delays in implementing open banking in Canada, there is cautious optimism among Canadian FinTech leaders about future progress. OpenSME plans to continue advocating for these changes through petitions, roundtables, and feedback collection for a pre-Budget 2026 submission.