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FIDA Open Finance proposal: issues to be tackled by the next legislature

Day 1 Afternoon

Wednesday 21 February

Room :



Marcel Haag
Director, Horizontal Policies - DG for Financial Stability, Financial Services and Capital Markets Union, European Commission
Public Authorities
Christophe Bories
Head of Service for the Financial Sector - Ministry of the Economy, Finance and Industrial and Digital Sovereignty, France
José Manuel Campa
Chairperson - European Banking Authority (EBA)
Ondřej Kovařík
MEP - Committee on Economic and Monetary Affairs, European Parliament
Industry Representatives
Barbara Navarro
Head of Research and Public Policy - Banco Santander 
Diana Paredes
Chief Executive Officer & Co-founder - Suade Labs
Marc Roberts
General Council - Raisin GmbH


This session will first discuss the opportunities and challenges associated with open finance for financial institutions and customers, whether they are appropriately addressed in the FIDA proposal and the potential impacts of open finance at market level.

The panel will also assess the possible changes or additions that may be needed to the FiDA proposal for an effective and fair implementation of open finance in the EU and the operational conditions that need to be in place, notably in terms of data and API standardisation, digital infrastructure and digital identity, as well as the main conditions for a successful implementation of FiDA.

Points of discussion

  1. Opportunities and challenges associated with open finance and the FiDA proposal: What are the main opportunities associated with open finance and the expected added value of FiDA? What are main drivers and safeguards needed to foster the development of open finance, are they appropriately set out in FiDA for financial institutions and customers and have the lessons learned from the implementation of open banking in the context of PSD2 been taken into account?
  2. Possible adjustments needed to the FIDA framework and conditions for a successful implementation of open finance: Are changes needed to the proposed FiDA requirements to support the development of open finance in the EU or do certain issues need further consideration? Will the main operational conditions for an effective implementation of open finance be in place with the measures proposed, notably in terms of data and API standardization, digital infrastructure, etc…? Could open finance give rise to new risks and are they appropriately addressed in the FiDA proposal? How should the implementation of FiDA be approached?