Abraham Tachjian to continue as Canada’s Open Banking lead

Abraham Tachjian has revealed that his term as Open Banking lead in Canada has been extended to the end of the year.

In a post on LinkedIn announcing the extension of his tenure, Tachjian wrote: “I am happy to report that I will continue as Canada’s Open Banking lead until the end of the year.”

“When I started, I mentioned that my goal was to enable Canadians and businesses to gain greater control over their financial data and be better equipped to manage their finances. I remain committed to this and will continue to work with all stakeholders to make it a reality in Canada.”

Tachjian told Open Banking Expo that his term will now run to 22 December 2023.

The Department of Finance Canada appointed Tachjian as the Open Banking lead, responsible for overseeing the implementation of a “made-in-Canada” Open Banking regime, back in March 2022.

Prior to that, Tachjian served as a director in the financial services practice at PwC Canada and, as such, supported the work of the Advisory Committee on Open Banking.

In August, Open Finance Network Canada (OFNC) issued an “urgent request” to Finance Canada to establish a “definitive deadline” for Open Banking implementation, as well as a roadmap.

Earlier the same month, the Financial Data and Technology Association (FDATA) of North America had expressed “disappointment with the lack of progress” on Canada’s Open Banking file.

However, FDATA North America commended Tachjian for establishing Working Groups across privacy, security, accreditation and liability.

Finance Canada was expected to publish a report on Open Banking in September, but is yet to issue an update on the country’s Open Banking file.

Main image: Abraham Tachjian speaking at Open Banking Expo Canada on June 15, 2023.