---
term: "Open finance"
category: "Open banking and open finance"
url: https://agenticopenfinance.com/glossary/open-finance
source: AgenticOpenFinance glossary
---

# Open finance

> Extending open banking's customer-permissioned data sharing beyond payment accounts to savings, credit, investments and insurance.

Open finance extends the open banking model of customer-permissioned data sharing beyond payment accounts to other financial products, such as savings, mortgages, investments, pensions and insurance. The European Commission has proposed a framework for financial data access to do this in the Union, and in the UK the FCA has consulted on open finance and is working on its direction. For agents, open finance would widen what they can see on a customer's behalf, which raises the stakes for permissions, dashboards and minimisation.

Related terms: [Open banking](https://agenticopenfinance.com/glossary/open-banking.md), [Financial data access framework (FIDA)](https://agenticopenfinance.com/glossary/financial-data-access.md), [Permission dashboard](https://agenticopenfinance.com/glossary/permission-dashboard.md), [Data portability](https://agenticopenfinance.com/glossary/data-portability.md)