The UK Financial Conduct Authority (FCA) has published the 2025 outcomes report of the open finance sprint, held in March. The Sprint brought together stakeholders to develop practical data-sharing use cases across four key areas: financial wellbeing, financial growth, financial resilience, and digital identity and verification. The report captures participants outputs and does not represent the FCA's official position. Key themes for a trusted and effective open finance ecosystem included:
- Agile regulatory and governance models that foster innovation, while safeguarding consumers and strengthening data security.
- Accessible, standardised and interoperable data across sectors.
- Collaboration with the collective goal of supporting ethical innovation and responsive regulation.
The FCA has plans to publish an open finance roadmap and a research note outlining key insights from commissioned studies on the sector's foundations, opportunities and barrier developments in the UK. To move towards open finance and a smart data economy, the FCA is launching the Smart Data Accelerator. This will test high impact use cases and inform agile policy development. Planned activities include tech sprints focused on small and medium-sized enterprise finance and mortgages in the second half of the year, with a major announcement to follow. The Accelerator will also conduct foundational research into technologies such as AI, blockchain and cloud computing.
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