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Canadian SMBs in the Dark on Open Banking | Toronto News

Canadian SMBs in the Dark on Open Banking | Toronto News

Published 4 days, 12 hours ago
Description

Canadian small businesses are flying blind on open banking—82% haven’t heard of the new legislation, and only 4% truly understand it. Meanwhile, 18% still hand over passwords to accountants or software, while 22% have done it before. Trust leans heavily toward accountants (49%) and banks (20%), with fintechs barely registering. The real appeal? Streamlining work: 39% want easier bookkeeping, 28% crave less admin time, and 27% hope for lower costs. Time to wake up—and get ready for change.

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