The UK's open finance push starts with mortgages and small business loans — and ends with consumers in control of their financial data by 2027

Consumers and businesses in the UK could soon gain far more control over their financial data, with the Financial Conduct Authority laying out a clear path to open finance by the end of 2027. That shift could mean better deals, faster lending decisions and financial products tailored to individual needs — starting with mortgages and small business loans. The FCA will spend 2026 testing practical applications in those areas, focusing first on how data sharing can improve access to credit for SMEs and streamline home financing. By the end of 2027, the regulator plans to present policy options to HM Treasury for a formal regulatory framework, building on the foundation of open banking but extending it into broader financial services. The goal is no longer just transparency — it’s growth, competition, and consumer agency in financial markets.