UK Regulator Unveils Open Finance Vision

The UK’s financial regulator has released its vision of an open finance regime, in which the role of third-party providers (TPPs) would be retained from open banking and regulatory interventions be largely replaced by standards and principles.

Open banking in the UK was mandated by the competition regulator and later reinforced by the EU’s sprawling revised Payment Services Directive (PSD2), but the Financial Conduct Authority’s (FCA) vision for open finance does not yet contain any major pieces of regulatory intervention. 

Request a Free Trial

As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.

Take a Trial