Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what steps the Government is taking to allow (a) bank customers and (b) customers of open banking services greater control over their banking data.

The Government laid the Payment Services Regulations on 19 July 2017, which supports bank customers to take greater control over their data.

The Government is also working with the Open Banking Implementation Entity to implement the CMA Retail Banking Market Investigation Order. The order facilitates the introduction of a range of Open Banking services for bank customers from 2018. Open Banking allows customers to exercise control over their data in a way that is secure, safe and standardised.