A long-awaited change to Canadian banking is coming (globalnews.ca)

submitted 1 year ago* (last edited 1 year ago) by avidamoeba@lemmy.ca to c/canada@lemmy.ca

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Open banking works by giving consumers the option to share their banking data with other firms. The most common use is granting access to budgeting or money management apps and companies, so that a customer can pool different bank accounts and credit cards into one place.

Ah yes, finally what we've been missing in our financial system! 🤭

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[-] corsicanguppy@lemmy.ca 2 points 1 year ago

I think the point was that we don't want to provide the intimate minute details of our private spending to everyone who asks, lest we risk judgement by the same fools who lob the "well if you have nothing to hide" fallacy.

I worry that either externally or internally you've set up a false dichotomy here.