Why regulators think 2025 will be a year of great opportunity for Open Banking

Whatever else it brings, 2025 will be a year of “enormous opportunity” for Open Banking. That is the belief of one of the Financial Services industry’s key regulators: Jane Moore, Head of Payments and Digital Assets for the UK Financial Conduct Authority (FCA). Speaking at a Westminster Business Forum policy conference on financial technology (FinTech) policy last week, she said that recent moves by the British Government provide the right context for Open Banking’s future success and expansion:

We welcome the clarity that the National Payments Vision provided. It's consistent with our objectives to protect consumers and market integrity and promote effective competition, as well as our secondary objective of facilitating international competitiveness and growth.

Published in November 2024, the Vision sets out plans for, among other things, greater consumer protections in Open Banking, payments fraud prevention, adoption of secure digital identities within Financial Services – as opposed ...