UK Regulator Unveils Smart Data Accelerator to Boost Open Finance Insights Desk, October 14, 2025October 15, 2025 The FCA has unveiled a new partnership along with several initiatives to drive the adoption of open finance in the UK, marking a significant move toward empowering consumers and businesses with greater control over their financial data. This announcement builds on the regulator’s January commitment to the Prime Minister to accelerate digital innovation and focus on open finance, especially within SME lending. Ahead of its formal open finance roadmap and strategy, the FCA plans to conduct two major TechSprints and launch its Smart Data Accelerator. These initiatives aim to develop practical, secure, and scalable applications of open finance in collaboration with industry stakeholders. As part of this effort, the FCA engaged KPMG and Europe Economics to conduct research assessing the potential benefits of open banking and open finance for both consumers and the wider financial services sector. The study found that while open banking has already transformed the management of everyday payments and accounts, open finance could expand these advantages to more complex financial products and services. The report also underscores the need for regulators to balance the opportunities of open finance with the risks involved. Key considerations include robust data-sharing frameworks, reliable technology infrastructure, and systems that encourage innovation while safeguarding consumer protection. Building on the success of its sandbox programme, the FCA launched the Smart Data Accelerator in September. This framework enables real-world testing of open finance applications in a controlled environment, in partnership with RaidiamLink. By allowing firms to simulate and test data-sharing models, the initiative aims to ensure that solutions are secure, responsible, and deliver tangible benefits to both individuals and communities. The FCA also revealed plans for two upcoming TechSprints, scheduled from 17 November 2025 to 12 February 2026, focusing on the mortgage market and SME finance. Registration is open until 2 November, with invitations extended to firms, policymakers, technology providers, and international partners. These initiatives build on the success of the FCA’s Open Finance Sprint in March, which convened regulators, FinTech companies, technology innovators, and consumer advocates. That session produced actionable ideas for applying open finance to everyday financial challenges, with the outcomes published in July. Combined, the FCA’s partnership, Smart Data Accelerator, and forthcoming TechSprints represent a significant step in the UK’s drive toward a more interconnected, consumer-centric financial ecosystem—one that harnesses data innovation to help individuals and businesses manage their finances more effectively. Data AIDataFintechIT Infra