Canadians won’t do shit on this front.

I’m literally watching a “merger” in the financial industry, where the smaller player, who used a linux-based back-end stack for the banking system, is being forced to adopt the ‘industry standard’ of the larger financial institution – the industry standard being a US company system, running on Microsoft products, and using an Indian company, running the online banking in Microsoft’s cloud. Having a ‘sovereign’ local community credit union isn’t enough to get members/loans apparently.

Even had an opportunity to ask the new CEO about whether they thought it was a prudent move, given the constant news/trade tensions (admittedly, prior to the most recent issue) – and the CEO’s response was basically “I have a piece of paper from a third party that says there’s no risk, so shut up”. Also, the very accurate comment of “I don’t think the back end matters to people in general, no one is going to move their accounts just to be with a sovereign setup, if they can get a slightly better rate elsewhere”. And you can’t really argue that, seeing as the smaller company that’s being ‘merged’ couldn’t leverage it to gain memberships.

The regulators don’t only not care about this sort of thing, they encourage industry to move things into US tech giant clouds. It’s hilarious, the BC outsourcing regulations say to avoid concentration, but the regulators themselves practically disregard it and demand everyone use Microsoft, and FISERV (a US backend banking host provider that provides core services for like 80% of the credit unions around). The regulators themselves are in US tech giant clouds. There’s practically no chance that our government actually takes any kind of stand against Microsoft or US tech giants.