FDATA North America Releases Report On Competition Issues Around Open Banking in Canada

On July 17, the Financial Data and Technology Association (FDATA) of North America released a paper on competition issues around customer-directed finance (often referred to as "Open Banking") and the financial data access competitive landscape in Canada. The paper’s release coincided with a virtual presentation by FDATA North America Executive Director Steve Boms, Senator Colin…

July 22, 20200Comments

ByPhil Siarri

Investing

Move Over ‘Open Banking’, Say Hi to ‘Consumer-Directed Finance’

About a year ago, I reported on the Department of Finance Canada launching a public consultation on the merits of open banking. On January 31, 2020, Minister of Finance, Bill Morneau, released the findings from the first phase of the review by the Advisory Committee and announced that the committee will go through a…

February 12, 20200Comments

ByPhil Siarri

Journey Updates

Now Tracking $4.5B, Banking Beta Testing, Wealthsimple Trade and More!

Let's start with some great news: We are now tracking more than $4.5B in aggregated investments! That's a lot of zeros : $4,500,000,000 Thank you all for trusting us with your investing data. With your support, we've reached $4.5B in aggregated investment value and it won't stop getting better. Hopefully, we'll be tracking $10B at the…

October 9, 20190Comments

ByMartin L.

Journey Updates

Wealthica’s CEO Simon Boulet Featured on the Fintech Impact Podcast

In the 82nd episode of the Fintech Impact podcast, Jason Pereira, a well-known financial planner, university lecturer, writer, and host interviews Wealthica's co-founder and CEO Simon Boulet. We simply think this could be the best interview about Wealthica and Canadian Open Banking to date! https://soundcloud.com/fintechimpact/wealthica-with-simon-bolet Notable quotes: ● “We built Wealthica from the ground up: multi-currency, multi-language,…

August 21, 20190Comments

ByPhil Siarri

Investing

Could Canada’s Digital Charter Be a Game Changer for Open Banking?

In May 2019, Navdeep Bains, Canada's federal Minister of Innovation, Science and Economic Development, announced a Digital Charter which enumerates 10 principles for modernizing the rules guiding digital technology in the country. There are two principles in it that are quite relevant towards the adoption of Open Banking. The third states “Canadians will have…

July 4, 20190Comments

ByPhil Siarri

Journey Updates

Announcing support for the new Wealthsimple API!

Connecting your Wealthsimple account to Wealthica has never been easier. Wealthsimple joins Questrade, WealthBar and Interactive Brokers in allowing their clients open access to their data through a secure API. This means you no longer need to enter your credentials when connecting your Wealthsimple account to Wealthica. If you already have your Wealthsimple account connected to…

March 12, 20190Comments

ByMartin L.

Investing

Department of Finance Canada Launching Public Consultation on Merits of Open Banking

The Department of Finance Canada has launched a public consultation on the merits of open banking. Concretely, what would open banking legislation in Canada mean for Wealthica users? It could enable easier access to your data through third party apps like ours, perhaps without even entering your credentials. Such would also regulate how data is…

January 22, 20190Comments

ByPhil Siarri