FCA speech: Open Finance – an opportunity for financial services

Industry News | 18/11/19

The FCA have published a speech by Sheldon Mills, Director of Competition at the FCA, delivered on 18 November 2019

• Open Finance has the potential to improve access within Financial Services, and could substantively change the nature of competition.
• Open Finance is part of a broader data-sharing initiative and will require coordination and consistency across sectors.
• We want Open Finance to develop in a competitive environment where the right incentives exist for all players to participate, and which delivers good outcomes for consumers.