Starling Bank boss Anne Boden may have got more than she bargained for when she laid into the UK’s open banking regime last week, generating an uproar from firms across the fintech sector.

The digital bank founder told MPs at a Treasury Committee hearing that open banking — a government-backed scheme set up in 2017 to share customer data between the UK’s nine largest banks and other providers — had flopped because gaining access to their data did not incentivise consumers to switch accounts.