The open finance market is expected to grow from $15.13 billion in 2021 to $48.13 billion in 2026, driven by regulatory oversight and shifting consumer preferences towards digital solutions. Financial institutions are adopting open finance solutions to capitalize on this growth, with the potential to accelerate their digital transformation and diversify revenue opportunities. To succeed, financial institutions must prepare by confirming the scope of their initiative, adopting a digital-first mindset, re-learning lessons from open banking, defining the right environments for service build and deployment, embedding good development practices, developing prioritized implementation roadmaps, and partnering with industry-leading data transfer networking providers to enhance customer experience. Several financial institutions have already begun implementing open finance solutions, including Capco and Plaid, which offer joint open finance offerings to help firms streamline efforts and avoid pitfalls.