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🌍
Jurisdiction
European Union
📅
Effective Date
2027
Jan 1, 2027
✅
Full Compliance
2029
Jan 1, 2029
🏛️
Regulator
European Banking Authority
Overview
FIDA extends open banking principles beyond payment accounts to a wider range of financial products including mortgages, loans, savings, investments, pensions, and insurance. It establishes 'Financial Information Service Providers' (FISPs).
Scope & Coverage
MortgagesLoansSavingsInvestmentsPensionsInsurance
Key Requirements
1
Data sharing across financial products2
Customer dashboards for consent management3
Compensation schemes for data holders4
Interoperability standardsKey Notes
Part of the broader EU Open Finance framework. Phased implementation expected.
Official Resources
Related Regulations
Other open banking frameworks in Europe:
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