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Jurisdiction
Canada
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Regulations
1
Open Banking frameworks
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Region
North America
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Type
NCA
National Competent Authority
About Department of Finance Canada / FCAC
The Department of Finance Canada / FCAC is the primary financial regulatory authority in Canada responsible for overseeing open banking and financial services. As a National Competent Authority (NCA), they ensure that banks and third-party providers comply with open banking regulations, protecting consumers while fostering innovation in financial services.
Jurisdiction
Canada
View Open Banking providers, banks, and TPPs in Canada
Regulations Overseen
Department of Finance Canada / FCAC is responsible for enforcing and monitoring compliance with the following open banking and financial regulations:
Key Responsibilities
Licensing and authorizing Third-Party Providers (TPPs) including AISPs and PISPs
Ensuring banks provide secure API access to authorized third parties
Monitoring compliance with Strong Customer Authentication (SCA) requirements
Investigating complaints and enforcing consumer protection standards
Publishing guidance and technical standards for open banking implementation
Coordinating with other regulators on cross-border open banking matters
Official Resources
Related Regulators
Other open banking regulators in North America:
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