FCA unveils open finance vision including 'tailored financial advice' help

Following on from open banking, which allows consumers and businesses to share access to payments data with trusted apps, open finance will extend secure data sharing across a much wider range of products and services. Open finance will be able to give consumers and small and medium-sized businesses (SMEs) "greater control over their financial data, unlock faster and more personalised financial services, and strengthen competition, innovation and growth across the economy," the regulator said. The FCA set out: "With more accurate, complete and technologically accessible consumer data,...