The partnership is expected to afford the credit union’s members greater control over their financial data, which FirstOntario will be able to leverage to offer a more personalised array of financial services.
Lloyd Smith, CEO of FirstOntario, describes this ability as “a key strategic priority” for the credit union, and given that open banking is “a much anticipated opportunity” for the marketplace, explains that “it’s important that we are ready to offer this emerging service as soon as it’s legislatively enabled”.
Montreal-based Flinks, majority-owned by the National Bank of Canada, and Markham-based Everlink first came together in March 2023 to pioneer the adoption of consumer-driven banking in Canada by combining Flinks’ open banking infrastructure product, Outbound, with Everlink’s digital solutions.
