The Digital Regulation Cooperation Forum (DRCF), through its Horizon Scanning and Emerging Technology project, has released a joint overview by the Financial Conduct Authority (FCA) and the Information Commissioner’s Office (ICO) on the future of Open Finance and Smart Data. Based on insights from the FCA’s March 2025 Open Finance Sprint, the report outlines how secure, consent-based data sharing, underpinned by the Data Use and Access Act, can support innovation, competition and consumer empowerment in financial services. It highlights the importance of technologies such as application programming interfaces (APIs), artificial intelligence (AI), distributed ledger technology (DLT) and digital identity verification in enabling Open Finance, while also identifying regulatory challenges including data minimisation, lawful processing, transparency and interoperability.