What’s Next for Open Banking: Reflections from the Open Banking Expo

At the Open Banking Expo in London this October, the message was clear: open banking has moved beyond experimentation to become a proven model delivering billions in value. What began as a regulatory initiative has evolved into a global movement reshaping how businesses and consumers interact with money. The strongest themes from the event were the rapid adoption of Pay by Bank across multiple sectors, its growing role in high‑value transactions, and the momentum building toward a broader open banking ecosystem. Together, these developments highlight a future where payments are faster, more secure, and more customer‑centric.

Pay by Bank stood out as a powerful example of this shift, moving from niche to mainstream in industries such as automotive, hospitality, luxury retail, insurance, and sports. Businesses are embracing it for its speed, security, and lower costs, while customers value the seamless experience. Case studies ranged from a UK car retailer collecting £33 million in its first month to hospitality clients processing high‑value bookings and memberships worth tens of thousands. These examples underscore how open banking is creating tangible value today, while the next frontier—open banking—promises even deeper integration across pensions, insurance, mortgages, and investments, paving the way for a fully connected financial ecosystem.