Global Scans · ~Open Banking · Weekly Summary

• [New] Open banking initiatives in 2026 represent a transformative shift from regulatory compliance to commercial viability, with API call volumes projected to surge by over 400% by 2029. CFA Montreal
• [New] Open Banking could generate as much as £43bn in annual value for the UK economy as adoption expands across financial services. FinTech Global
• Although implementation is expected by late 2027, the scale of change - particularly in fraud liability, licensing, and open banking-means firms should begin preparations now. Morrison Foerster
• HM Treasury will give the FCA new powers to regulate the future of Open Banking, including powers to underpin commercial open banking payments within commercial schemes developed by industry. Bratby Law | Specialist UK Telecoms, Data and Payments
• Open Banking is already delivering real and substantial value across the UK, with significant further growth potential as adoption continues to scale. FinTech Global
• Saudi Arabia's push through Vision 2030, SAMA's Open Banking Framework, and the rapid growth of digital payments are creating real opportunities for fintech operators, banks, SMEs, and investors alike. LinkedIn
• Open banking is expected to have a positive impact across the financial sector by strengthening collaboration between banks and fintechs, enhancing financial infrastructure and enabling the responsible use of customers' financial data within a secure, consent-driven framework. Pinsent Masons
• The FCA will gain new powers to regulate the future of Open Banking that will include underpinning the development of new Open Banking payments within commercial schemes. Bratby Law | Specialist UK Telecoms, Data and Payments
• As open banking expands globally, A2A payments will become increasingly important. ATM Marketplace
• The UK is moving open banking towards a long term regulatory framework, which will be overseen by the FCA. Cms
• Canada's open-banking legislation carries the risk of Australia's initial model without the backstop of the U.K.'s oversight body. Policy Options

Last updated: 08 July 2026