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Open Finance: how to make the most of its innovation potential? (opportunities, challenges, upcoming EU policy)?

Day 1 Afternoon

Wednesday 13 September

Room :



Alexandra Jour-Schroeder
Deputy Director-General - DG for Financial Stability, Financial Services and Capital Markets Union, European Commission
Public Authorities
Gabriel Cumenge
Deputy Assistant Secretary of Banking and General Interest Financing - Ministry of the Economy, Finance and Industrial and Digital Sovere
François-Louis Michaud
Executive Director  - European Banking Authority (EBA) 
Ana Puente
Head of Sustainable and Digital Finance - Ministry of Economy and Digitalization, Spain
Industry Representatives
Erik Ljungberg
Head of Group Brand, Communication and Sustainability - Swedbank
Diana Paredes
Chief Executive Officer & Co-founder - Suade Labs


This session will first discuss whether the FIDA (Financial Data Access ) proposal is likely to facilitate a development of open finance services in Europe, the related opportunities for financial institutions and consumers and the expected impacts at market level in terms of competitiveness and access to finance.

The panel will also discuss whether the FIDA framework will provide sufficient incentives and safeguards to allow the development of open finance, building on the lessons of PSD2, and also the operational conditions that need fulfilling for an effective implementation of FIDA.

Points of discussion

  1. Will the proposed FIDA framework facilitate a significant development of open finance products and services in Europe? What use cases are expected to emerge as a result of FIDA? What are the expected benefits for customers and service providers? Can FIDA have a significant impact on the competitiveness of the overall financial market?
  2. Does FIDA set out the appropriate incentives and rules to encourage data holders and users to implement and use open finance services? Are the customer safeguards proposed sufficient? What are the main operational conditions for a successful implementation of open finance (e.g. in terms of quality and standardization of data, APIs) and are these appropriately tackled by FIDA? Are clarifications or additional measures needed in certain areas?