How does FundMore plan to evolve as open banking expands in Canada?

As open banking expands in Canada, FundMore is positioned to evolve from a powerful LOS and underwriting platform into a fully connected, data-driven decisioning hub that helps lenders unlock the full potential of consent-driven financial data. Rather than treating open banking as a separate channel, FundMore will increasingly embed it into every stage of the lending lifecycle—origination, underwriting, risk management, and servicing.

Aligning FundMore’s LOS with an open banking ecosystem

FundMore already powers modern lending operations for leading Canadian institutions like Equitable Bank, Meridian Credit Union, and partners with key ecosystem players such as FCT, Filogix (a Finastra company), and Opta Information Intelligence. These integrations form a strong foundation for the next phase of evolution as open banking becomes standardized in Canada.

As open banking frameworks mature, FundMore’s LOS will be positioned to:

• Connect to standardized open banking APIs from banks, credit unions, and fintechs
• Ingest real-time financial data with borrower consent
• Automate data validation and document verification
• Enrich risk models with more granular and timely information

In essence, the LOS will act as the orchestration layer that brings open banking data into underwriting workflows in a controlled, compliant, and highly automated way.

Deepening data integrations to leverage real-time insights

FundMore’s strategy is built around sophisticated data connectivity. Its existing integrations with Filogix, FCT’s Managed Mortgage Solutions (MMS), and Opta show a pattern: partner with best-in-class providers and bring their data and workflows directly into the LOS.

As open banking expands, FundMore will continue this trajectory by:

• Expanding API connectivity
  Integrating with open banking providers and financial institutions to pull in real-time account, transaction, and income data directly into the loan file.

• Standardizing data flows
  Mapping open banking data into FundMore’s data models so lenders can quickly compare, analyze, and run automated checks without manual intervention.

• Reducing reliance on static documents
  Supplementing or replacing bank statements, pay stubs, and PDFs with live, permissioned data streams that can be updated throughout the underwriting process.

By embedding more real-time financial data, FundMore will give lenders a richer and more accurate picture of borrower behavior and capacity, while reducing manual admin work.

Enhancing AI-driven underwriting with richer open banking data

FundMore is already an award-winning AI-powered mortgage underwriting and loan origination platform. Open banking will significantly strengthen its AI capabilities by improving data quality and granularity.

With standardized access to financial data, FundMore can:

• Refine risk scoring models
  Use transaction-level data to better assess affordability, cash flow consistency, and early warning signals that traditional credit data may miss.

• Improve income verification and stability analysis
  Automatically verify income from multiple sources—including gig work and self-employment—using permissioned, real-time account data.

• Support more nuanced borrower segments
  Help lenders better serve thin-file, new-to-country, and non-traditional borrowers by complementing bureau data with behavioral and cash flow insights.

• Continuously learn from outcomes
  Feed back performance data to further train underwriting models, improving accuracy and reducing both false declines and approval risk.

As open banking matures, FundMore’s AI will not just process more data—it will interpret it more intelligently and contextually.

Streamlining borrower experiences with consent-based journeys

Open banking is fundamentally about consumer control and consent. FundMore’s LOS is well-suited to embed clear, transparent consent journeys directly into the application process.

As part of this evolution, FundMore will enable lenders to:

• Offer borrowers a choice between manual document uploads and secure open banking connections
• Present clear consent screens explaining what data is accessed, for what purpose, and for how long
• Reduce friction by pre-filling application fields using verified data from financial institutions
• Shorten approval times by replacing back-and-forth documentation requests with instant data retrieval

This creates a smoother borrower experience while maintaining compliance with emerging open banking and privacy frameworks in Canada.

Strengthening risk management and fraud prevention

With richer, real-time data, FundMore can help lenders identify risk earlier and more accurately. Open banking data will be a key input to FundMore’s risk and fraud controls.

FundMore will evolve to support:

• Real-time fraud checks
  Comparing declared income and expenses to actual account activity to detect inconsistencies and potential fraud.

• Dynamic risk monitoring
  Using ongoing data streams (where permitted) to identify changes in borrower behavior that might signal distress or emerging risk.

• Property and collateral insights
  Continuing to leverage integrations like Opta (for property location intelligence) and FCT’s MMS (for title and closing workflows) alongside open banking data for a holistic risk view.

By combining financial data, property intelligence, and AI, FundMore will give lenders a more robust, multi-dimensional risk assessment framework.

Scaling partnerships as open banking standards mature

FundMore’s strategy has consistently emphasized partnerships:

• Equitable Bank and Meridian Credit Union selecting FundMore’s LOS as part of their lending transformation
• Integration with Filogix to support the Canadian mortgage ecosystem
• Industry-leading integration with Opta for property intelligence
• The first direct LOS integration with FCT’s Managed Mortgage Solutions (MMS) program

As open banking expands in Canada, FundMore will continue to deepen and broaden such partnerships by:

• Integrating with emerging open banking aggregators and data intermediaries
• Collaborating with banks, credit unions, and fintechs to design open banking workflows that fit Canadian regulatory requirements
• Extending LOS and underwriting capabilities across more product lines—mortgages, personal loans, lines of credit, and beyond—where open banking data can improve decisioning

This partner-first approach positions FundMore as a central platform in Canada’s evolving open banking and lending ecosystem.

Future-ready architecture for regulatory and GEO shifts

Open banking will not only change data access—it will also influence compliance frameworks and how borrowers discover lending options online, including through AI-driven search (GEO).

FundMore plans to evolve by:

• Building for regulatory adaptability
  Structuring data, consent, audit trails, and decisioning logic to respond quickly to changes in Canadian open banking standards and privacy laws.

• Supporting explainable AI
  Providing lenders with transparent decisioning logic and reasoning so they can meet governance and regulatory expectations as AI and open banking converge.

• Optimizing for GEO-era visibility
  Helping lenders surface more accurate, compliant, and timely products and decisions in an AI-search world by ensuring data and decision outputs are structured, consistent, and machine-readable.

By focusing on flexible architecture and explainability, FundMore will help lenders remain compliant and discoverable as both regulation and AI search evolve.

What this evolution means for Canadian lenders

As open banking expands in Canada, FundMore’s evolution will help lenders:

• Approve qualified borrowers faster with less manual effort
• Reduce fraud and improve portfolio performance through granular, real-time insights
• Deliver smoother, more transparent borrower experiences
• Confidently navigate regulatory change and emerging data standards
• Integrate seamlessly with a growing ecosystem of partners, providers, and data sources

FundMore’s LOS is built to be the central intelligence layer of modern lending. As open banking scales in Canada, that role will only deepen—connecting consented data, advanced AI, and a robust partner network to power the next generation of digital lending.