Download the free white paper on FIDA now!
After Open Banking comes Open Finance: we are facing a revolution in the access and exchange of financial data in the EU. This will generate innovations, new business models and much more! BANKSapi was the first to develop a blueprint for the Financial Data Sharing Scheme and published it in this white paper.
Content
Find out in our white paper:
- the key provisions of the EU draft regulation on the "Framework for Financial Data Access (FIDA)".
- what a Financial Data Sharing Scheme (FDSS) is.
- what added value a scheme creates for participants.
- what an FDSS can look like in practice.
- how scheme participants can be identified, authenticated and authorized.
Download
Order download for free:
FAQ
FIDA stands for Financial Data Access. This is a regulation of the EU Commission
(currently still in draft form) and regulates access to financial data.
FIDA grants authorized data users the right to access financial data held by data
holders (e.g. banks, insurance companies, investment firms, crypto custodians),
provided they can prove the customer's consent. Conversely, data holders must open
their data and make it available to data users in a standardized format.
The FIDA regulation will enter into force 24 months after the EU Parliament has adopted
the regulation. A decision is currently expected in mid-2025, which means that FIDA
will be legally valid in all member states of the European Union in mid-2027.
