Canada's Open Banking Law Is Here. Is Your Institution Ready?
Open Banking in Canada
The Canadian Senate has passed Bill C-15. Financial institutions must now open their data APIs to consumers and third-party providers. Those who don't act risk being left behind. Wealthica is your fastest, safest path to compliance.
Proudly CanadiansGOVERNMENT OF CANADA, BILL C-15, 2026
“Completing the consumer-driven banking legislative framework to allow Canadians and businesses to securely share their financial data with third-party providers and give consumers clearer choices and better tools to manage their finances.”
Canadian financial institutions already connected
In aggregated assets on platform
API standards compliant
Type II audited & enterprise-grade security
Open Banking in Canada
What Is Open Banking and What Does Bill C-15 Require?
A plain-language overview of Canada's consumer-driven banking framework and what it means for financial institutions of every size.
What is open banking?
A framework that gives consumers the legal right to share their financial data with authorised third parties through secure, standardised APIs.
What is Bill C-15 and what did it change?
Passed by the Canadian Senate in March 2026, Bill C-15 gives Canada its first statutory foundation for consumer-driven banking, empowering the Bank of Canada to begin implementing open finance rules.
What does compliance look like in practice?
Institutions need a secure, FDX-aligned API that lets customers consent to and control their own data sharing. OAuth 2.0 authentication and consumer consent flows are the baseline requirements.
Do institutions have to build this themselves?
No. The legislation requires the outcome, not the method. A compliant third-party open banking API meets the obligation without the multi-year internal build.
The Challenge
Open Banking Compliance Is Not Optional.
Bill C-15 establishes a legal framework for consumer-driven finance in Canada. For financial institutions of every size, that means one thing: you now need a secure, standards-compliant API that allows your customers to share their financial data.
For large banks with deep engineering teams, this is a years-long project. For credit unions, community banks, brokerages, and fintechs, it can feel like a mountain with no clear path up.
- Building a compliant open banking API in Canada takes 12 to 24 months and significant engineering investment
- Navigating FDX standards, OAuth flows, and security requirements demands specialized expertise most institutions don't have in-house
- Siloed systems mean your customers can't get the consolidated financial view they're now legally entitled to
- Falling behind on open banking doesn't just mean non-compliance. It means losing customers to institutions that get there first
The institutions that move first will
- Become a primary financial hub for their customers
- Unlock data partnerships with 100+ connected institutions
- Offer customers a true 360° view of their financial lives
- Differentiate in a market where loyalty is up for grabs
The Wealthica Solution
Don't Build an API. Use Ours.
Wealthica has already done the heavy lifting. We are Canada's most connected open banking API, FDX-compliant and already plugged into over 100 financial institutions. Instead of starting from zero, plug into the network that's already built.
Your Open Banking API, Deployed in Weeks
Skip the years-long build. Wealthica's SDK delivers a plug-and-play integration that handles authentication, data normalization, and regulatory standards, freeing your team to focus on what you're actually good at.
Instant Access to an Established Network
Joining Wealthica means immediately plugging into a network of 100+ connected Canadian institutions, including banks, brokerages, credit unions, and crypto platforms. Interoperability on day one, not year three.
Enterprise Security You Can Stand Behind
Wealthica is SOC2 Type II audited. Your customers' financial data is protected by enterprise-grade security protocols, so you can open your data with full confidence, not anxiety.
Platform Capabilities
Everything You Need. Nothing You Don't.
Wealthica's financial data aggregation API goes beyond simple compliance. It brings a full suite of data capabilities to your institution, purpose-built for the Canadian market.
Automated Data Syncing
Real-time and scheduled syncing across accounts ensures your data is always current, with no manual reconciliation and no stale records.
Multi-Asset Coverage
Stocks, ETFs, mutual funds, real estate, private investments, and cryptocurrency, all aggregated in one unified data layer.
FDX-Compliant API
Built to Financial Data Exchange standards, the recognized benchmark for open finance interoperability in North America.
Consent Management Built In
Full consumer consent flows are baked into the platform, already compliant with Bill C-15's data-sharing transparency requirements from day one.
How it Works
Three Steps to Open Banking Compliance
From signed agreement to a live, compliant API faster than you thought possible.
- 1
Connect & Configure
Onboard with Wealthica and configure your integration using our developer SDK. We handle the OAuth flows, data standards, and compliance layer on your behalf.
- 2
Go Live
Your institution is now part of Canada's open banking network. Your customers can securely consent to share data, and third-party providers can access it via your Wealthica-powered API.
- 3
Grow
Unlock new data partnerships, deepen customer relationships, and leverage Wealthica's capabilities to offer your clients a complete 360° view of their financial world.
Who It's For
Built for Institutions That Move Fast
Large banks have armies of engineers. Wealthica is built for institutions that want competitive advantage without the enterprise build timeline.
Credit Unions
Serve Your Members Better
Give your members a full picture of their financial lives, covering accounts across every institution they use, not just yours. Become the hub they come back to.
Community & Regional Banks
Compete on Capability
Match and exceed the digital experience of national banks without the national bank budget. Open banking infrastructure, delivered in weeks.
Fintechs & Wealth Platforms
Aggregate Everything
Plug Wealthica's financial data aggregation API into your existing product to unlock 100+ institution connections, asset tracking, and financial data feeds your users actually want.
Investment Dealers & Brokerages
Deliver True 360° Advice
Advisors can finally see everything, not just the accounts at your firm. Richer data means better advice, and better advice means clients who stay.
Security is Paramount
SOC 2 Type II Compliant
Our SOC 2 Type II report covers controls relevant to security and availability. We undergo regular third-party audits to maintain this standard.
Data Secured With AES-256 Encryption
We encrypt all in-transit data using TLS 1.2 or higher. Database administrators don't have access to the encryption keys used.
Industry-Leading Cloud Providers
Our secure infrastructure is hardened against the most sophisticated types of attacks. We perform regular automated and manual application security testing.
Built to the Highest Standards
Wealthica is audited, accredited, and actively maintained against the compliance benchmarks that matter to Canadian financial regulators and their clients.
- SOC2 Type II Audited
- FDX API Standards
- OAuth 2.0 / OpenID Connect
- Bill C-15 Framework Aligned
- Crypto & Web3 Ready
Why Trust Wealthica
A Decade of Financial Data Infrastructure in Canada
Founded in Montreal, Quebec. Wealthica has been building Canadian financial data infrastructure for over a decade, long before open banking became law.
Canadian financial institutions already connected on the platform, spanning banks, credit unions, brokerages, and digital asset providers.
In aggregated assets tracked on the Wealthica platform, making it Canada's most established financial data aggregation network.
Type II audited. Security controls independently verified. Audit report available to institutional partners on request.
Common Questions
Frequently Asked Questions
Everything decision-makers at Canadian financial institutions want to know before getting started.
Does my institution need to build its own open banking API to comply with Bill C-15?
How quickly can a Canadian financial institution deploy an open banking API with Wealthica?
What is the FDX standard and does Wealthica meet it?
What types of financial data and assets does Wealthica's API support?
Is Wealthica's open banking API secure enough for regulated financial institutions?
What does Bill C-15 actually require from Canadian financial institutions?
Which types of institutions should consider Wealthica's open banking API?
Can Wealthica's API connect my institution to other Canadian financial institutions?
Get Started
The Framework Is Set. Your Window Is Now.
The institutions that act today will define who leads Canada's open banking era. Don't wait for the big banks to set the standard. Set it yourself.
No long-term commitment required to explore. Talk to us first.