Open banking and smart data – expert predictions 2025

After a positive year for open banking, we ask industry and OBL experts for their views on key developments for 2025 from business borrowing to consumer protection; from financial inclusion to fraud; and from the National Payments Vision to a smart data economy.

OBL celebrates 7th anniversary of PSD2 and the creation of open banking

OBL marks the seventh anniversary of PSD2 being implemented in the UK, which made open banking a regulatory requirement, along with the
CMA Order.

With 11.7m active users, we are looking forward to a productive 2025 which will see the Data Bill progressing through Parliament, paving the way for the evolution into open finance and a smart data economy.

OBL publishes JROC report: Financial Crime within Open Banking journeys

Open Banking Limited (OBL) is pleased to publish the final report for JROC Workstream 2a, Financial Crime within Open Banking journeys, which is the result of extensive consultation with the ecosystem, regulators and relevant industry bodies. 

It is the first time that such a rich dataset and insights have been gathered specifically relating to fraud in open banking.

Guide to open banking and smart data in the telecoms sector

Mobile phone and broadband services are now an essential household utility, but as costs increase, many consumers and businesses are keen to find better deals.

Our guide explains how open banking can offer cost savings and support faster switching. We also examine how open banking payments can help telecoms companies streamline billing and collection.

DECEMBER HIGHLIGHTS

OBL CEO, Henk Van Hulle commented: “Open banking has made much progress in its six-year history, but 2025 potentially heralds the biggest leap yet. The passage of the Data Bill, advancement of the National Payments Vision, and the implementation of cVRPs will provide a strong foundation for the future.

The sector is the best placed it has ever been to deliver innovation and this will deliver better outcomes for consumers and businesses, enable increased competition in the payments space, and support wider economic growth.”

Blackbullion uses open banking to speed up student funding and support financial education

Financial education platform Blackbullion offers an open banking-powered money management app to help students in higher education get to grips with their finances.

It also uses open banking eligibility checks, powered by data firm Bud, to speed up student funding via its Funds Management System.