The North American Open Finance Standardization Initiative FDX is hiring Canadian financial technology expert Jason Chomik to lead the Canadian financial services ecosystem to better tailor FDX’s API to the country
The Financial Data Exchange (FDX) announced it has appointed Jason Chomik as Chief Operating Officer for Canada. Mr. Chomik will take over the Canadian financial services ecosystem to further tailor the FDX API for use in Canada. Jason Chomix, who joins FDX after 25 years in the payments and digital transformation industry, lives in Toronto.
“I am very grateful for this opportunity to lead FDX’s work on financial technical standards in Canada”
“We are pleased that Jason has accepted this role and look forward to working with him,” said Kashmera Self, associate vice president of strategy and emerging solutions implementation at Interac and Franklin Garrigues, VP of digital channels at TD Bank, both co-chairs of the FDX Canada working group. “We have matured at length in our choice of a Canadian director capable of navigating the country’s diverse financial ecosystem and creating deep collaborative links, so that all financial companies in Canada can benefit from common technical standards,” interoperable and not private within the framework of an open banking system. In our opinion, Jason is the perfect fit for this position, ”add Kashmera Self and Franklin Garrigues.
FDX has developed technical data sharing standards favorable to open banking and financial contexts. These standards allow consumers to better understand, use and leverage their own financial data to improve their financial lives. The mission of the FDX Task Force for Canada is to develop and adapt FDX’s financial data sharing standards to the Canadian market and to cultivate a culture of cooperation, communication and technical inclusiveness across the ecosystem of Canadian financial services.
“I am very grateful for this opportunity to lead FDX’s work on financial technical standards in Canada,” comments Jason Chomik. “Inviting multiple players in the Canadian financial industry to the same table to get them to cooperate around technical standards, and ensuring that everyone is heard and represented will be critical to the successful development of a technical framework that works for Canadians.” , he adds.
In addition to his position of directing FDX’s work in Canada and serving the Canadian members of the company, Jason Chomik will continue the work of FDX, to ensure that all financial service companies in Canada, regardless of their size or their resources, can participate effectively in the development of FDX technical standards. Mr. Chomik will also be FDX’s first director to engage with Canada’s financial services ecosystem as a whole, policymakers, regulators and other stakeholders across the country.
“I look forward to working with our Canadian members as well as the regulators, policy makers and stakeholders who participated in the Canadian consultations on open banking and consumer-centric finance. Together, we can ensure that market-driven technical standards and any future open banking regulations in Canada can work together seamlessly, ”he says.
FDX aims to become the preferred standard in the Canadian market in terms of sharing financial data. With this in mind, FDX strives to bring a market-driven model by providing a market-driven technical standards model capable of keeping pace with ever-evolving financial innovation. FDX, which does not lobby or promote any policy, seeks to publicize its technical standards among policy makers and industry stakeholders. FDX’s technical standards can adapt to, and operate in parallel with, any policy or regulatory action taken by the Canadian government in the area of open banking and consumer-oriented finance.
FDX initiated its Canada Task Force in July 2020 with 31 organizations across Canada’s financial services ecosystem, including a wide range of fintech companies, leading banks, credit unions and ‘aggregators of financial data. Since the year of this launch, the FDX working group in Canada has grown. Today it includes 60 financial services organizations. FDX recently released version 4.6 of its API, which now supports over 620 unique pieces of financial data that consumers can share and use. More than 190 financial companies around the world are now members of FDX and 16 million user accounts now use the FDX API for sharing financial data in the United States and Canada.