Technically speaking, no one in Canada currently owns his or her financial data. You deal with the bank, and you have an online account and probably a checking account and a mortgage. All that generates data, including basic information such as your address. Currently, if someone wants to purchase another financial product offered by another bank, that individual's bank may refuse to pass on the customer's financial information because the customer doesn't own it.
I'm going to give you a brief history of the right to data portability. It wasn't invented by the private sector or technology companies. It's actually the result of a legislative proposal made in the United Kingdom by Competition & Markets Authority following the 2009 financial crisis. CMA claimed that the banks hadn't championed the rights of consumers and that there was an excessive concentration in that sector.
In its report, entitled "Making banks work harder for you", CMA stated that the right to portability was the solution. In other words, consumers should be granted the right to take their financial data and do business with the institution of their choice, which would enable them, for example, to compare mortgage rates, various investments and different percentages and interest rates in effect for checking and other accounts.
The policy snowballed. As I said, most OECD countries and, I believe, the 70 largest economies now acknowledge the right to data portability. Australia has been a little more ambitious: it uses data portability in other sectors, such as telecommunications and energy.
Does that answer your question?