G A U G I N G T H E M A R K E T
G A U G I N G T H E M A R K E T
Financial borders are becoming digital, and payments firms need frameworks that reflect that reality. A more coordinated regulatory approach could help by making compliance clearer and reducing friction in areas like fraud prevention, Open Banking and cross-border payments. However, for this transition to work, the FCA must ensure that payments-specific needs aren’ t diluted under a broader financial services remit. The challenge isn’ t whether we regulate, it’ s how we regulate. Oversight should enable innovation, not slow it down. We often see first-hand how regulatory uncertainty creates operational challenges, and we will continue working with regulators, partners and industry bodies to support an environment that encourages financial innovation while maintaining strong compliance and security standards.
Final thoughts
We love to see the UK government follow through on its plans, such as the National Payments Vision. However, we’ ve observed a trend of regulatory easing in the US and are concerned that, if the UK does not strike the right balance, it could become less attractive to FinTech entrepreneurs. While we welcome a more flexible approach, it must be implemented responsibly – ensuring stability and trust rather than relying on shortcuts. It’ s important to recognise that the PSR’ s contribution to the development and promotion of Open Banking has been and will remain invaluable – not just in the UK, but across the EU and globally. The PSR also played a role in making payment systems more competitive and improving fraud protections. The FCA will need to ensure that this progress is not lost while keeping regulation practical for businesses. If executed well, this could create a more efficient and balanced approach to payments oversight, reinforcing the UK’ s reputation as a global leader in FinTech regulation. � www. intelligentfin. tech
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