I used to think open banking in Canada was just talk, but a meeting in Toronto changed my view

A founder showed me their live pilot with a credit union in BC moving real money, which proved the rails are actually being built. Anyone else seen a demo that made a concept feel real?

4 comments

4 Comments

emery_black1mo ago

That BC pilot moved a few test dollars, not real funds.

lunag301mo ago

Yeah, that's a good point about the risk. Makes you wonder if they had some kind of special insurance or a crazy tight limit on the transfers, like a dollar max or something.

anthony1291mo ago

Hate to be that guy, but moving real money in a pilot sounds risky. I thought the whole point was using dummy data to test the pipes. Makes you wonder what their risk team signed off on.

sarah8181mo ago

Anthony129 is totally right, it's a huge red flag. We ran a pilot at my old job and the rule was fake money only until every single check passed. Using real funds in a test just invites a disaster, like a transfer getting stuck or sent to the wrong place. Their risk team must have been asleep at the wheel to approve that.