Last week, Workhaus co-hosted “Tech on Tap” with ATB Financial at our Core location in Calgary. ATB Financial has grown into the largest Alberta-based financial institution that puts their community and their people first. They’re opening up the conversation on what banking can (and should) do for you, and how to make that possible.
Last week, ATB opened the floor with a panel of industry professionals discussing the future of Open Banking and what it could mean for industry in Alberta.
The panel discussion was lead by Julie Kerr from the ATB team, who was able to break down, discuss and explain the concept of Open Banking. What is open banking? Glad you should ask, it’s a term taken from the financial service industry that looks at banking as a system. This system provides users with a network of data taken from financial institutions through application programming interfaces (APIs). Open Banking is a standard that defines how this data should be accessed and created.
Tate Hackert from Zayzoon, spoke next and helped narrow the discussion to a specific example of the implications of Open Banking with respect to mortgages and bank lending. He shared some personal anecdotes on some of the struggles that the traditional method of getting a mortgage entails. From there, he described how Open Banking and immutable chain of custody could help significantly improve both the lending and approvals process with respect to financial institutions.
With delicious pizza from Without Paper and ice cold beer from our friends at Common Crown, the event was a great success. Our space was used to the fullest during the post-event networking session as guests broke off to discuss the possibilities that Open Banking presents. With well over 80 attendees, our Core location was more than up to the task of hosting.
We’re already looking forward to our next Tech on Tap with ATB!