Mahima joined Equitable Bank in 2016 and now leads the Product and Corporate Development team. As part of her role, Mahima leads Equitable’s strategy for investing in strong partnerships and collaborations with some of Canada’s leading Fintechs and alternative lenders. She takes an active role advocating the benefits open banking brings to consumers, fostering competition and innovation to improve customer experience. Previously Mahima was a long time management consultant with the Boston Consulting Group specializing in the Financial Services and M&A sectors. Mahima holds an MBA from the Kellogg School of Management and an HBA from the Richard Ivey School of Business.
Eberhard said the direction of travel is simple; consumers should have greater ownership over their data.
Poddar said Canadian regulators have to play an active role in implementing Open Banking in Canada otherwise it will be slow to happen.
Jiwan believes the other missing piece of the puzzle is clarity on guiding principles of a Canadian Open Banking regime from the regulator. Something that is currently missing.
Leboeuf said financial institutions are worried about losing connections with consumers which is offering lots of opportunities for first movers.