In the UK we're five years into the open banking journey that’s enabled consumers to share their current account information securely with third-party providers in exchange for tailored financial products and services. The macroeconomic challenges of the cost of living crisis, the COVID-19 pandemic, as well as rising property and rental prices, are putting financial services and credit products under the microscope. In parallel, the technology is continuing to evolve with the Open Banking Implementation Entity's (OBIE) publication of the Open Banking Standard version 3.1.10, the final release under the Competition and Markets Authority (CMA) revised roadmap. This makes it an ideal time to dive into the world of open banking, to understand its development and potential to help consumers and businesses create better outcomes. In this episode regular host Asia Anwar-Jones, Head of FinTech at TransUnion, is joined by Praneeth Meka, Senior Director Data Science and Analytics, and Sam Buckley, Senior Credit Consultant in Open Banking, to explore open banking’s maturity curve, reflecting on consumer adoption, use cases and lessons learned, and ongoing innovation. In the UK, TransUnion was an early advocate of open banking (https://www.transunion.co.uk/product/open-banking-platform), viewing the technology as a way to improve customer acquisition, customer experience and enable more informed and fairer lending decisions. Recent product development to our end-to-end solution includes enhancements during COVID-19 as consumer affordability became a key issue and our partnership with Credit Ladder to include property rental payments in credit reports (https://newsroom.transunion.co.uk/transunion-teams-up-with-creditladder-to-include-property-rental-payments-in-credit-reports/). Further insights into open banking from TransUnion: • The role of open banking in a polarised UK economy (https://www.transunion.co.uk/blog/the-role-of-open-banking-in-a-polarised-uk-economy) • Consumer Credit 2022: Responding to Challenge and Change (https://solutions.transunion.co.uk/consumer-credit-2022/) • Lending in a Time of Crisis ebook (https://solutions.transunion.co.uk/lending-in-a-time-of-crisis/)