How important is trust?
As open finance adoption accelerates, trust remains the defining factor in whether consumers choose to participate.
Open finance is designed to serve everyone – not as a complex technical layer, but as a practical, empowering tool that fits naturally into everyday life. The experiences built on top of it should feel intuitive, supportive, and transparent.
Security is the foundation of that trust. According to Mastercard’s Rise of Banking Report 2024, 94% of consumers say it is essential that their financial institutions keep their data secure, underscoring the need for robust protections and clear communication. This is why, according to the same Mastercard report, 93% of B2B respondents trust Mastercard as a central partner in the ecosystem, recognising its role in ensuring that data moves safely, responsibly, and seamlessly.
By prioritising transparency, clarity and strong security standards, the industry can reduce uncertainty and encourage more people to embrace the benefits of open finance.
The path forward
Open finance is no longer a niche concept – it is becoming the backbone of modern financial services. With open payments growing 53% year‑on‑year according to the FCA, the industry is shifting toward a more connected, collaborative model where systems work together on behalf of the individual.
Whether it’s faster account opening, more inclusive credit options, or smarter financial planning, the goal is the same: to give people the freedom, clarity and support they need to thrive.
Businesses that act now – by embracing open finance, building trusted partnerships and designing experiences that put customers first – will be the ones shaping the next era of financial services.