FCA and ICO highlight how Open Finance and Smart Data can enhance secure data sharing in financial services through strong consent, privacy, and AI safeguards to combat fraud and drive innovation

Key technologies under review include APIs, AI analytics, distributed ledger technology, and digital IDs—all aimed at boosting innovation while safeguarding against financial crime risks. With initiatives like the Smart Data Accelerator and ICO’s Innovation Hub, both regulators aim to balance innovation and trust, ensuring data-driven finance evolves responsibly and transparently…