Across the UK’s open banking and fintech ecosystem, a growing sense of anticipation surrounds the year ahead. Leaders from payments, data, fintech, and technology agree: 2026 marks a turning point, the moment when regulatory clarity, maturing use cases, and cross‑sector collaboration converge to unlock the next chapter of the smart data economy. This shared excitement is captured directly through the voices of the organisations shaping the future. Steady Progress Sets the Stage for Big Change For Ellie Duncan at Open Banking Expo, 2026 is not just about dramatic launches, but about meaningful groundwork taking place behind the scenes: “So with smart data, I feel like we’re going to see some incremental progress there. So maybe no other big scheme launches, but lots of work going on behind the scenes in that space. Now we have the Data Use and Access Bill [Act].” Her view reflects a broader industry sentiment: that the Data Use and Access Act is quietly laying the foundation for what comes next. David Monty from Tell Money sees this groundwork leading to a pivotal convergence: “I am hoping that the big change is the convergence with smart data. That’s where it gets really interesting. We’re not just looking at payments, but we start looking at how data can actually work for people.” This transition from payments innovation to true data‑driven services is increasingly seen as the defining step for the sector. CVRP, VRP and the Rise of Smarter Payments Payment innovation continues to accelerate, with charities and merchants finding new opportunities in next‑generation recurring payment models. Kieron James of Wonderful Payments highlights this shift: “We’ve got a lot of charities very excited about the potential with CVRP as a replacement potentially for direct debits in terms of, ease for the making those payments.” Adam Jackson at Innovate Finance underscores CVRP’s potential as a modern alternative for digital commerce: “The launch of CVRP – the open banking payments, solution, that’s a new form of direct debits becomes a new form of payment for e-commerce.” Meanwhile, Luke Ladyman from Cheddar believes Variable Recurring Payments are on the brink of widespread adoption: “So the one thing I’d expect to see and like to see is CVRP coming mainstream in the same way ASPSP appears a normality.” Across the ecosystem, 2026 is viewed as the year these payment innovations become part of everyday consumer behaviour. Open Banking as the Foundation of the Smart Data Economy While payments continue to evolve, many see 2026 as the year open banking takes on a broader role in the UK’s emerging smart data economy. Nick Davey at OBL frames this shift: “I think we’ll see more payments innovation as well in open banking broaden out. But I see we’re going to a smart data economy and open banking being one of the fundamental use cases that will integrate with loads of other sectors.” This cross‑sector integration, particularly into health, signals the move from financial data access to multi‑sector smart data sharing. Robert Sullivan of Token.io connects this moment directly to legislative progress: “It’s going to be a big step towards unlocking the kind of broader smart data economy in the UK with the Data Use and Access Bill [Act] really to come to fruition.” The Act is widely expected to act as the catalyst for new commercial schemes, new collaborations, and new digital experiences. The Arrival of Open Finance Few areas are generating as much excitement as open finance. Dan Scholey of Moneyhub captures the growing momentum: “The excitement behind open finance is more tangible than I think I’ve ever known. The excitement about open banking and the opportunities for consumers are just phenomenal.” His colleague, Nej Korosec, points to the regulatory milestones that could finally turn potential into reality: “The new regulatory footing for open banking, the future entity, and hopefully a statutory instrument from treasury, that will mean the introduction of open finance.” With a statutory instrument expected, many believe 2026 will be the year the UK shifts from open banking to full open finance. A Sector Poised to Capitalise on Collaboration Bringing these perspectives together, Henk Van Hulle at OBL offers a fitting summary of what makes 2026 such a landmark year: “I am really excited about 2026. It’s been called the Landmark Year, and it’s because people have seen and the industry have seen that they can come together and capitalize on sharing data, and that’s what’s going to happen. More and more commercial schemes are going to be set up for the best and all the benefits for end users in SMEs. And businesses alike so that we have an entire ecosystem which can be vibrant and can finally capitalise on all their investments.” Across fintechs, banks, charities, SMEs, regulators, and innovators, there is a shared belief that the years of investment, experimentation, and collaboration are finally coming to fruition. You may be interested in Event Unlocking the Everyday – EY Event Highlights 10 Mar 2026 Download Article Open Banking Payments: A Big Step Forward for Everyday Payments 20 Feb 2026 Download Thought Leadership A Landmark Year for Open Banking 05 Feb 2026 Download
You may be interested in Event Unlocking the Everyday – EY Event Highlights 10 Mar 2026 Download Article Open Banking Payments: A Big Step Forward for Everyday Payments 20 Feb 2026 Download Thought Leadership A Landmark Year for Open Banking 05 Feb 2026 Download
On 15th July 2021, along with techUK, we hosted a webinar discussion exploring why financial inclusion has become more important since the pandemic, why it’s key for the UK’s economic recovery and what role open banking can play in giving financially vulnerable individuals access to tailored and fair financial services. We invited a panel of experts in financial inclusion and vulnerability, as well as credit union lending, to offer their unique insights on these challenges and potential solutions. Lakshman Chandraseke, CEO, London Mutual Credit Union Carolyn Delehanty, vulnerable customer experience coach, Delehanty Consulting Adrian Davies, co-founder, NestEgg Rob Haslingdon, head of digital propositions, Experian David Lockwood, senior business development manager, Finders International HQ Simon Lyons, Head of Ecosystem Engagement, the Open Banking Implementation Entity (OBIE) Why this matters now In the past, banks made you use the channel they gave you – branch, phone and internet. Open banking changes the way we can access our bank, so a lot of the legacy challenges some individuals face with inclusion and social banking have been removed. Which means we can get the bank we want. While there’s no magic wand for financially vulnerable consumers, we do understand many of the wide variety of problems they face. Our panel listed some of the areas that open banking can help with: Financial vulnerability – including financial domestic abuse (for instance, where one partner controls access to the other’s finances, and even food). People who can’t access services – the ‘unbanked’, who don’t have a bank account, and how we need to find an easier way to bring the unbanked into the system. Faster loan processing – by helping the banks and credit unions help vulnerable customers faster (40% of loan applications come via open banking or digital statements) – they can process more loans more quickly and efficiently, speeding up access to finance. Helping people understand the value of their data – the pandemic provided people with an opportunity to see exactly what they spent their money on which aided many people’s financial understanding and budgeting. Open banking can help with: Eligibility – by confirming someone’s eligibility for a product and helping improve their money management skills. Affordability – such as financial resilience, over-indebtedness, impact of redundancy, and then using that information to support customers in a positive way. Challenges for people who have passed away. Settling estates is often problematic, and open banking can help relatives access the details they need to support the probate process. Capacity to make decisions – this affects sensitive issues such as probate, and Court of Protection matters. Speeding up assessment for lending, borrowing, and improved cash flow – people don’t always have single credit profiles (instead they may have part profiles with several organisations), which can slow down assessments for finance. Supporting the ‘unbanked’ – with access to a transactional bank account, credit, savings, and even insurance. Watch the video to find out more about how open banking help reduce the poverty premium, help people to budget better, and open up banking to more people.
Open banking has come a long way in the last three years – thanks to the hard work of thousands of people from across the open banking ecosystem, collaborating to create something from nothing. https://player.vimeo.com/video/499241835″ width=”640″ height=”360″ frameborder=”0
On Tuesday 15th September the OBIE welcomed members of our ecosystem to a two-hour webinar, focussing on the FCA’s recently-published Consultation on eIDAS certificates. Here we replay some of the questions and insights from this well-attended event, where OBIE experts and a representative from the FCA discussed the impact that any revocation of eIDAS certificates would have on the UK’s open banking ecosystem. Open Banking does not endorse the products, services or statements featured on this page. For further information see our website terms and conditions. Supporting content: What will happen to existing banking connections using eIDAS certificates from the 1st January 2021? and What about passporting under the FCA’s Temporary Permissions Regime? As an Account Servicing Payment Service Provider (ASPSP) will I need to support both eIDAS certificates for EU TPPs, as well as the alternative solution for UK TPPs? My firm acts as an ASPSP – what actions should we take to be compliant with the new rules – do we have to revoke the eIDAS certificates for TPPs registered with us? We (a Third Party Provider or TPP) would appreciate any information on how UK companies can continue to work in Europe after our eIDAS certificates are revoked. Will we be required to open an office in Europe in order to do European open banking?
Exploring the customer journey – in discussion with some of the innovators refining user experience. Read the write-up now.
Insightful debate about the future of open banking-enabled payments – hosted by OBIE and TechUK. Read the report.
OBIE and TechUK hosted this 45-minute webinar on 30th April, exploring open banking’s role and potential in addressing the economic impact of Covid-19.
Open Banking technology is enabling innovation in the financial services sector that benefits millions of consumers and SMEs by giving them access to their financial data. https://player.vimeo.com/video/343203304″ width=
We spoke to OpenWrks, Funding Options & Swoop Funding about applying & winning the Open Up Challenge run by Nesta – a Fintech prize fund supporting new Open Banking services, apps and platforms for SMEs.
Open banking is powering technology offerings that help small and medium enterprises mitigate the risk of Late Payments.
Open Banking is beginning to power progress for the millions of squeezed and struggling people who are experiencing problem debt across the UK.
Veronique and Matty from Flux explain how their idea is coming to life with Open Banking, and what the future of financial products and services might look like.
Leon from Yolt believes Open Banking is going to radically change the relationship between banks and people – see how.
The latest analysis, reports anClearScore’s Justin Basini explains how Open Banking gives you the power to use your data in a secure and regulated way.d thought leadership from the world of open banking.
OpenWrks’ Olly Betts and Mitul Sudra explain how Open Banking will transform the speed and ease of applying for financial products.