Symcor’s Saba Shariff to discuss Open Banking mobilization in Canada

Symcor’s Saba Shariff believes organizations preparing for Open Banking should take action now to effectively manage the data exchanges that are needed to enable innovation in consumer-driven banking.

Saba Shariff of Symcor

Shariff, who is senior vice president, chief strategy, product and innovation officer at Symcor, is taking part in a panel session at Open Banking Expo Canada on June 11, at the MTCC in Toronto, titled ‘Mobilizing Made in Canada: Getting our consumer-driven banking rollout in order’.

She says that the measures announced in the Fall Economic Statement, the Federal Budget and the draft Consumer-Driven Banking Act, have all provided a “solid blueprint” to get started but that there are still some “unknowns”.

Having observed many partnerships emerging in the market, Shariff notes that finding the right partner or collaborator can help ecosystem participants avoid the time, resources and investment required to develop their own Open Banking platforms by working with entities who can take care of the foundational framework elements.

Another reason to partner, according to Shariff, is privacy and security which play crucial roles in fostering consumer trust.

Establishing trust is vital for widespread consumer adoption which, she adds, can be slow to take off, as demonstrated by other jurisdictions, including the UK.

“By prioritizing user-friendly experiences, education, and seamless integration, participants can foster widespread adoption and unlock the full potential of Open Banking in Canada,” says Shariff.

Joining Shariff on the panel at Open Banking Expo Canada is Surbhi Dhir, senior client partner at Publicis Sapient, Shekher Puri, RBC’s vice president, digital components and platforms, as well as Krista Broughton, director of Open Banking at Mastercard and BMO’s director strategy, emerging businesses, Sandeep Achar.

The panel will be moderated by Cindy Zhang, a financial services lawyer at Borden Ladner Gervais LLP.

View the agenda in full and register for your ticket here.