Inside the FCA’s 2030 Vision: Open Finance, VRPs & Growth

The FCA has laid down a challenge and it’s one your business can’t afford to ignore.

Its new 2025–2030 strategy isn’t just another regulatory update. It’s a bold, directional push to reshape how finance works in the UK. Think of it less like a policy paper and more like a manifesto, where real-time data access, smart payments, and personalised financial services aren’t nice-to-haves—they’re expected.

If you’re in payments, lending, finance automation, or fintech, this is your moment. The regulator is making it clear: it’s time to move faster, think bigger, and deliver.

Welcome to Open Finance

Over 11 million people in the UK already use open banking. That’s more than 24 million payments processed each month using bank APIs. But the FCA wants to go further.

Open Finance is the next stage. It means unlocking access not just to bank data, but to a user’s full financial life, i.e pensions, savings, credit, insurance, mortgages, and beyond. All securely shared, with user consent.

Why does this matter to your business?

• You’ll be able to offer smarter lending decisions with real-time affordability data.
• You can build tools that connect across financial accounts, not just current accounts.
• You’ll gain an edge by offering hyper-personalised, permissioned financial experiences.

The FCA plans to publish a full roadmap for Open Finance within a year. The first regulatory foundations will be live by 2027. If you’re building products for the future, that timeline means planning starts now.

VRPs: A Smarter Way to Pay

One of the biggest shifts coming fast is Variable Recurring Payments and they’re a big deal.

Unlike traditional Direct Debits, VRPs let users:

• Set their own payment limits
• Authorise smarter, flexible mandates
• Adjust payments based on real-time use (think: dynamic subscriptions, usage-based billing)

For your business, that means:

• Lower processing costs than card payments
• Fewer failed payments and more control for your users
• New models for recurring revenue, B2B payments, and pay-as-you-go billing

The FCA has pledged to accelerate VRP rollout, not through endless consultations, but with action. That includes backing commercial models and creating an independent body to coordinate VRP delivery.

The Regulator Is Changing, Too

This isn’t just about Open Finance or payments. The FCA is shifting how it works altogether:

• Faster authorisations
• Less red tape for compliant firms
• Early, transparent communication
• Support for experimentation, not just scrutiny

In plain terms: if you’re building something genuinely useful and responsible, the FCA wants to help you succeed, not slow you down.

Consumer Duty = Building Products That Work

Here’s the other key shift: regulation is now outcomes-first.

Under Consumer Duty, it’s not enough to say “we’re compliant.” You’ll need to show that your products:

• Deliver real value
• Are easy to understand and use
• Work well for people from all walks of life

Whether you’re offering VRPs, lending tools, cash flow dashboards, or budgeting platforms powered by Open Banking, the bar is now higher. And it’s a good thing. Better products = better trust = better adoption.

What Should You Do Now?

This strategy isn’t a far-off vision. It’s already in motion. If your business touches finance, payments, or data, here’s what to focus on:

✅ Start preparing for Open Finance: Evaluate where richer data access can improve your service.

✅ Build infrastructure that’s VRP-ready: Think flexible billing, better payment control, and secure consent journeys.

✅ Design for real outcomes: UX matters more than ever. Your tools need to be intuitive, inclusive, and transparent.

✅ Choose the right open banking partner: Infrastructure will define your speed, flexibility, and compliance as this strategy rolls out.

How Finexer Can Help

At Finexer, we’re purpose-built for the world the FCA is championing.

• Connect with 99% of UK banks through one API
• Enable VRPs, bulk payments, and real-time payouts
• Power use cases across finance automation, KYC, and affordability checks
• Fully FCA-licensed infrastructure, ready for scale
• Built for startups, accountants, and fintechs growing in the UK market

Whether you’re building something new or modernising an existing product, Finexer helps you launch faster, grow smarter, and stay ahead of regulatory shifts.

Wrapping Up

The FCA isn’t just regulating anymore. It’s shaping the future and inviting you to help build it.

For businesses, Open Finance isn’t a maybe. It’s a matter of how fast and how well you deliver on the opportunity.

Let’s make it real together. Start building with Finexer’s Open Banking APIs today.