Payments Canada announces Executive Director of Modernization
Payments Canada announced today that Andrew McFarlane assumed the role of Executive Director, Modernization, effective March 1, 2020.
“Andrew has global payments experience, is an expert in stakeholder engagement, and is a recognized voice on key topics in the evolving payments ecosystem, including open banking,” said Tracey Black, President & CEO of Payments Canada. “His proven track record of delivering transformative programs, coupled with his deep expertise, bolsters our capacity to deliver on Canada’s Vision for modernized payments.”
Over the last eight years at Accenture, Mr. McFarlane has led priority activities for payments, in addition to serving as Delivery Lead and Program Lead for banking clients in Ireland. Accenture is the firm that is working closely with Payments Canada to provide in-depth industry expertise and help manage the Modernization initiative.
Mr. McFarlane succeeds Tracey Black in the role. Effective March 1, Ms. Black stepped into the role of President & CEO. The two will continue to work closely together in the delivery of Modernization.
For information on payments Modernization in Canada, visit modernization.payments.ca.
About Payments Canada
Payments Canada ensures that financial transactions in Canada are carried out safely and securely each day. The organization underpins the Canadian financial system and economy by owning and operating Canada’s payment clearing and settlement infrastructure, including associated systems, bylaws, rules and standards. The value of payments cleared and settled by Payments Canada in 2019 was over $55 trillion or $218 billion each business day. These encompass a wide range of payments made by Canadians and businesses involving inter-bank transactions, including those made with debit cards, pre-authorized debits, direct deposits, bill payments, wire payments and cheques. Payments Canada is a proud supporter of the Catalyst Accord and the 30% Club.
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