Open Finance risk: Five things that happened in June you need to know about

June was a month where the gap between technology and governance got harder to ignore. Here is what happened, why it matters, and what it means for risk management.

AI: your Open Finance chain is running AI experiments

At a summit on how to transform banking, I chaired a panel of senior executives from ING, UBS, Barclays and Standard Bank. The admission was candid: There’s no holistic governance conversation happening at the pace AI deployment is happening. That should concern financial institutions less for what it means within their own walls, and more for what it says about the intermediaries, fintechs and technology service providers operating in their Open Finance chain. In short: Their AI risk is the bank’s risk. Their incident is the bank’s incident. More here.

Europe: regulators govern verticals, Open Finance runs horizontally

Meanwhile at a panel in Europe, four luminaries – Agnieszka Scott, head of Smart Data at the UK’s Department for Business and Trade, Michael Salmony, EU regulations wunderkind, and Todd Clyde, chief executive officer of Token.io, among them – argued about whether GDPR can fill the gap left by a stalling FiDA. The point that cut through: The firms pulling ahead aren’t waiting for regulation to catch up. They’re leveraging risk management infrastructure now. More here.

Canada: FDATA puts a Sponsored Fintech Model on the table

On 8 June 2026, FDATA submitted a formal proposal to Canada’s Department of Finance and the Bank of Canada, recommending a tiered participation structure under the Consumer-Driven Banking Act. It is a genuine attempt to solve a real problem: Full accreditation costs risk shutting out smaller fintechs. But it sharpens a harder question – what does it mean for an accredited aggregator to vouch, continuously, for every entity sponsored beneath it? More here.

UK: the consumer isn’t the barrier – the infrastructure is

At a forum on Smart Data, four behavioural and consumer experts dismantled a core industry assumption – that trust is what’s holding back adoption. What consumers actually want is verification, visible off-ramps, and somewhere to go when something goes wrong. That’s not a trust problem. It’s an infrastructure problem. More here.

UK: Smart Data’s hardest question just arrived

And finally, a roundtable chaired by Mike Hewitt, founder of Breakwater Technology, reached a sharp conclusion: the access question – getting data flowing – is being answered. The harder question, what happens when something breaks inside the pipe, has barely been asked. Energy’s emerging consumer grid is about to inherit the exact liability problem Open Banking has lived with for years. More here.

Louise Beaumont leads marketing, communications and design at Invela

Invela is the infrastructure layer that makes Open Finance trustworthy – accrediting who’s in the network, monitoring risk in real time, and ensuring liability lands in the right place. Read more at Open Finance Risk Management Network | Invela

Invela is an Event Partner of Open Banking Expo UK & Europe 2026. Find out more about partnering, attending and speaking here.