London, 22 September 2021: Woodhurst, a digital transformation consultancy, is excited to announce the launch of their new Open Finance Community, SHIFT. The community includes founders and leadership teams from some of the UK’s most exciting Fintech’s leading the Open Finance space.
The Open Finance Community will exist to foster collaboration between founders of disruptive Financial Services firms and other industry participants to progress the Open Finance agenda by tackling specific, member-identified challenges.
Community members will get unique access to like-minded industry and organisational leaders who collectively want to solve the challenges that Open Finance presents.
The launch of the community comes after the publication of Woodhurst’s successful industry report ‘Uncovering the true potential of Open Finance’, which highlighted over 40 of the key products and solutions that are being developed today, showing how Open Finance can dramatically improve customers’ financial lives.
Open Finance has been quickly gaining momentum as the entire industry begins to embrace the concept of an open data economy, and we expect to see even more progress over the next few years. Collaboration, partnerships and integrations will be essential in the effort to push the Open Finance agenda forward. The community was therefore established as a dedicated, industry-wide forum that allows the founders and leaders of organisations across the ecosystem to engage as an aligned community to drive actions forward and really accelerate the Open Finance agenda.
The output of the community will align with the ongoing regulatory and industry activity related to Open Finance, which began with the FCA’s initial consultation in 2020 and will pick up significant pace as we move into 2022.
“The evolution of Open Banking towards Open Finance will require collaboration and a concerted effort across the industry. Woodhurst created Shift to allow diverse industry participants to work together and push the Open Finance agenda forward at a greater pace.” Josh Rix, Co-Founder Woodhurst Consulting