Inverite Applauds Canada's Renewed Push Towards Open Banking Framework

2025-11-06 08:16:05

(MENAFN- Newsfile Corp) This marks a pivotal milestone for Inverite and Canada's fintech ecosystem - signaling real momentum toward a regulated, consumer-driven financial data environment.

As one of the few Canadian firms already delivering AI-powered, open-banking-ready data intelligence, Inverite stands to benefit directly as national standards take shape.

Vancouver, British Columbia--(Newsfile Corp. - November 6, 2025) - Inverite Insights Inc. (CSE: INVR) (OTC Pink: INVRD) (FSE: 2V0) ("Inverite"), a Canadian leader in AI-powered financial data intelligence, welcomes the Government of Canada's continued progress toward establishing a national Consumer-Directed Finance (Open Banking) framework, as noted in a recent update from FDATA North America.

The Financial Data and Technology Association (FDATA) North America, representing major fintechs, financial institutions, and data platforms, recently commended the federal government's appointment of Abraham Tachjian as Canada's Open Banking Lead. This step marks renewed federal momentum toward a regulated, consumer-driven data-sharing system designed to enhance competition, innovation, and transparency across the financial services industry.

FDATA highlighted several key advances:

The appointment ends years of policy delay and provides clear leadership for open banking policy and implementation.

It establishes a foundation for governance, accreditation, and technical standards supporting consumer-controlled data sharing.

It positions open banking as vital financial infrastructure that promotes efficiency and improves outcomes for both consumers and businesses.

"Inverite supports this important step forward in Canada's open banking journey," said Karim Nanji, CEO of Inverite Insights Inc. and Director of FDATA North America. "A structured, consumer-driven data framework is essential for building a modern financial system where innovation and fairness go hand in hand. Inverite's mission and technology are fully aligned with those goals."

As an active member of FDATA North America, Inverite continues to engage in policy and technical discussions that shape Canada's data access standards. Through its proprietary risk intelligence platform, Inverite delivers real-time, AI-based affordability, behavioral, and identity insights that support responsible decision-making and align with the principles of consumer-directed finance.

"This announcement represents real momentum for consumer-driven banking in Canada," said Steve Boms, Executive Director of FDATA. "By streamlining oversight of the fintech ecosystem under the Bank of Canada and committing to write access as the next phase of implementation, the government is moving closer to ensuring Canadians and small businesses have secure, reliable, and affordable ways to access and share their financial data-helping drive innovation and inclusion across the financial sector."

For further insight on FDATA on their initiatives towards Open Banking, click on the following link: Alert: Momentum Builds for Fee-Free Data Access- Diverse Stakeholders Unite Against Bank Data Acces...

About FDATA North America

FDATA North America is a trade association representing more than 30 technology firms and data platforms dedicated to advancing open finance. The organization works with regulators, policymakers, and industry participants to ensure Canada's open banking framework promotes secure data sharing, consumer choice, and innovation.

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About Inverite Insights Inc.

Inverite Insights Inc. (CSE: INVR) (OTC Pink: INVRD) (FSE: 2V0) is a Vancouver-based AI software company delivering real-time financial data intelligence. With over 30 billion financial data points collected from more than seven million Canadian consumers, Inverite provides lenders and businesses with data-driven insights to improve risk modeling, identity verification, and compliance.

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