Consumers continue to adopt digital financial services at a growing rate. Financial activities that were once manual like building a budget, investing in the stock market, and saving for retirement are now fully digitised, and consumers look to the internet or the app store for the financial solutions they once found at bank branches.

Data sharing has become a distinct consumer experience, with consumers taking action to connect their payment accounts and other financial accounts to the third parties whose services they want to use. Standards have been developed to ensure consumers go through a simple and consistent authentication journey. However, that is not enough to provide consumers with control over their financial lives.

Consumers need to be able to control all of their financial data across their various account providers, and not just the data held by their payment account providers. But the question remains, can the current authentication and authorisation models deliver consumer control?