The future of payments: How open banking is changing the landscape

Open banking is already rising in adoption and delivering value. The UK's Financial Conduct Authority measured a 53 per cent increase in open banking payments in 2025, and Open Banking Ltd found that open banking reached 16.5 million user connections throughout the year.

The organisation also noted that open banking has already delivered £8.3 billion in benefits to the UK economy and could deliver up to £43 billion per year to the UK economy in the future. As more enterprises adopt the standard, it could also underpin other advances in financial services such as agentic AI commerce.

In this FStech podcast associate editor Rory Bathgate speaks with Lee McNabb, group payments lead at Natwest, to discuss how open banking is already transforming the payments industry and what is on the horizon for organisations that have already embraced the standard.