Drawing on perspectives from leading industry experts across the banking ecosystem, The Future is Open: Navigating the Next Phase of UK Open Banking explores the transformative journey of open banking and its potential evolution into open finance. 

Key Highlights include:

• Open Banking Success: Over 13 million UK consumers and small businesses are benefiting from open banking, with the model being adopted in 60 jurisdictions worldwide.
• Future Opportunities: The transition to open finance promises vast economic and consumer benefits, including enhanced financial inclusion, support for SMEs, and opportunities for global cooperation.
• Regulatory Developments: The Government's new Data Bill and the completion of the CMA roadmap are crucial milestones, paving the way for expansion into open finance and the smart data economy.
• Strategic Decisions Needed: Key strategic decisions on governance, policy, and industry consensus are essential to fully realise the potential of open finance.
• Digital Identity and Smart Data: The UK’s Data Bill supports the development of digital identity verification and smart data schemes, projected to boost the UK economy by £10 billion over the next decade.
• Global Influence and Cooperation: The UK's leadership in open banking sets a foundation for international collaboration and cross-border opportunities.
• Governance and Funding: Establishing a clear governance structure and funding model is critical for the successful transition to open finance and beyond.

Discover how open banking is being adopted by major players now, and what's next for open banking:

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