Financial Services: Regulation
The question
To ask the Chancellor of the Exchequer, if she will publish her Department's plans for an open finance regulatory framework.
Answered by Emma Reynolds
As set out in the National Payments Vision, the government’s ambition is for the UK to be a world leader in Open Finance – the next generation of financial data sharing. The benefits are potentially transformative for businesses and customers, enabling choice, innovation and a greater ability to engage with financial services.
The government is prioritising the development of a long-term regulatory framework for Open Banking, which will lay the foundations for Open Finance.
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