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For those outside of Canada: The Canadian banking industry is highly centralized. This looks like a way to keep more nimble upstarts from actually getting start
by jt2190 5y ago
For those outside of Canada: The Canadian banking industry is highly centralized. This looks like a way to keep more nimble upstarts from actually getting started.
(Not directly related, but Revolut recently retreated from the Canadian market, for example.)
- version_five 5y agoAgreed. See the replies to my other comment in this thread. Open banking as a concept is a great idea, in Canada it will be a used strategically as a way to limit competition. Edit: I'd be happy to be wrong, you can let me know when Canada sees a flood of great new banking startups in the next couple years
- brailsafe 5y agoYa, but exactly what is your claim here beyond something like regulation kills the free market.