The Competition and Markets Authority's (CMA) open banking remedies have been instrumental in the development of open banking in the UK, but now it's time for regulators to reassess their oversight as industry players shift towards open finance. The CMA has opened a consultation on the future governance of open banking, which should build on the work done by the Open Banking Implementation Entity (OBIE) without replicating its efforts, particularly regarding API standards. As the industry has evolved, new challenges have emerged, such as ensuring API performance and availability, which requires technical expertise that ASPSPs currently lack. The transition to a new entity, the Future Entity (FE), is crucial to overcome these issues and ensure open banking remains successful, with the FE needing to leverage market data and be granted enforcement capabilities. Ultimately, collaboration between regulators, industry players, and TPPs will be essential to deliver more open banking products and services that benefit consumers and businesses alike.