Open Finance (FIDA)

We advised a pan-European payment institution providing open banking services w projekcie:

Analysis of the feasibility of providing Open Finance services after the implementation of FIDAR.

The EU draft legislation, known as FiDAR (Financial Data Access), introduces an open data approach to most standardised services. Consequently, the European Union is transitioning from open banking, which was introduced through open banking, to open finance. The financial services whose data will be made available to users and other providers by default will include deposits, loans, non-life insurance, financial instruments and crypto assets. Payment accounts will remain available in PSD2 mode. According to the FiDAR, providers of active open banking services (PIS providers) can start using open finance, i.e. providing services including the collection of data on credits, insurance, etc., without additional requirements. The same applies to AIS providers who also offer other payment services. If the AIS service is provided as the only service in an registration process by the supervisory authority, instead of obtaining a licence (i.e., AISPO status under PSD2 and national legislation), in order to expand its activities from payment accounts (open banking) to other products (loans, savings, etc.), the provider must register again, this time as a FISP (Financial Information Service Provider) in accordance with the FiDAR project.

DLK’s advisory included:

• The range of open finance services that the open banking provider will be able to offer.
• The identification of potential new products that the provider can create by combining the authorisations to provide open banking and open finance services.
• The operational changes that will be necessary for the provision of open finance services, resulting from the differences in the architecture of open banking and open finance (e.g. participation in data schemes, fees, etc.
• Additional business opportunities resulting from the addition of information from connected products to open banking and open finance data, i.e. the open data connection envisaged in the Data Act, PSD2 and the FiDAR project.

Zobacz także na stronach DLK:

• Projekt rozporządzenia w sprawie ram dostępu do danych finansowych (FiDAR)
• Webinar on open finance and the upcoming FIDA regulation, 26.06.2025: Podsumowanie