Bank Services: Regulation
The question
To ask the Chancellor of the Exchequer, pursuant to the Answer of 19 June 2025 to Question 61158, whether she plans to publish the statutory instrument on open banking in the first quarter of 2026.
Answered by Lucy Rigby
The National Payments Vision, published in November, set out the government’s ambitious plans for the next phase of Open Banking, building on the UK’s leadership in this area. This includes steps towards delivering seamless, Open Banking enabled, account-to-account payments.
The government intends to use powers in the ‘Data (Use and Access) Act’ to put in place a long-term regulatory framework for Open Banking and is working at pace to deliver this.
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