The Fintech Effect 2025: UK consumers shaping the next chapter of open finance

Since the launch of open banking in 2019, the U.K. has built one of the world’s most advanced financial connectivity networks. Now, with new regulations on the horizon—like PSD3, the EU’s forthcoming FIDA framework, and the U.K.’s Data Protection and Digital Information Bill—and innovations such as Variable Recurring Payments, the stage is set for the next leap: true open finance.

Open finance takes the promise of open banking and expands it into something bigger: personalised, embedded financial experiences that give people greater control over their data, their money, and their future. It replaces static, outdated workflows with secure, seamless, real-time signals—unlocking new ways to pay, borrow, save, and invest.

This year’s Fintech Effect—our annual consumer report with the Harris Poll—shows that U.K. consumers are ready to lead that shift. They’re increasingly willing to change providers in search of better digital experiences, and their expectations are rising fast: faster onboarding, smarter guidance, frictionless connectivity, and AI that feels personal and safe.

For fintechs, the message is clear. Trust and regulation are the foundation—but not the differentiator. The opportunity now is to deliver intelligent, internet-first experiences that meet consumers where they are, anticipate their needs, and help them thrive in a rapidly changing economy.

Here’s a preview of what we found:

• From tool to right hand
  Consumers say fintech gives them greater financial control—but there’s a clear gap between what most want from their apps and what they actually get. Find out where the biggest opportunity lies.

• Open finance as a catalyst
  Fintech adoption is now mainstream across the U.K. Discover which features make people more likely to stick—and which can send them searching for a new provider.

• Alternatives go mainstream
  A once-alternative payment method is now displacing cards for many consumers. Learn what’s driving the shift, and which generation is most behind it.

• Credit gets personal
  Traditional credit processes still frustrate many. See how open-banking-powered lending could rewrite the playbook.

• AI finds its footing
  Comfort with AI is growing, but trust has clear conditions. Explore the guardrails consumers expect before they’ll rely on AI for financial guidance.

These headlines only hint at the opportunities ahead. The full Fintech Effect 2025 reveals the consumer behaviours, expectations, and market shifts shaping the future of fintech in the U.K.