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ARTICLE · 23 OCTOBER 2025

FCA Publishes Research Note And Next Steps On Open Banking And Open Finance

Lewis Silkin
Lewis Silkin
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Lewis Silkin

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Earlier this year, the FCA commissioned two consultancies to carry out research on the current state of open banking services and to inform the development of open finance.

United KingdomFinance and Banking
Wendy Saunders
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Helen Hart
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Earlier this year, the FCA commissioned two consultancies to carry out research on the current state of open banking services and to inform the development of open finance.

The FCA has now issued a research note summarising the analysis. The analysis set out in the note will contribute to its wider programme of work on open banking and open finance.

Key themes of research

The key themes from the research were:

  • Open banking continues to grow. It has made steady progress in the UK, establishing a foundation for innovation and competition. Growth has been driven by practical use cases and increasing consumer trust. This gradual development, mirrored in other fintech innovations such as digital wallets, suggests that open finance could follow a similar trajectory.

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