Open Banking Expo 2026
UKPI, NatWest and the FCA debate who pays when open finance goes wrong in the UK, and what changes now AI agents are in the chain.
Its Smart Data Accelerator will test roles with industry in the coming months. Until then, the customer calls the bank, whichever entity in the chain caused the problem.
UKPI wants the stalled data audit trail work revisited, and NatWest would make transaction risk indicators a prerequisite. Both come back to one point: you can't price what you can't see.
The FCA called identity and consent the mechanisms for understanding agent risk and liability, and asked whether an agent's purpose can drift as it learns.
Open Banking Expo 2026
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Liability for open finance data sharing is not yet defined in UK regulation. For payments, NatWest's Stephen Wright said liability already follows the party controlling the activity. In practice, customers call their bank first, whichever entity in the chain caused the problem.
No UK rule yet defines who consents, who is authorised or who is liable when an AI agent acts in an open finance chain. The FCA's Smart Data Accelerator is adding agents to its testing with industry.
Transaction risk indicators are metadata that travel with a payment or data share, showing its purpose, its recipient and who to contact. NatWest's Stephen Wright argued they should be a prerequisite for open finance.
