Objectives of the session
Like open banking for payments, access to data and financial services is expected to open a wide range of possibilities for third parties and financial institutions to improve the response to consumers’ real financial needs. The Digital Finance Strategy in Europe describes open finance as one of its foundations.
The experience gathered from the full implementation of PSD2 has informed the Commission on a broader framework for open finance, which is expected to present a legislative proposal for a new open finance framework by mid-2022.
In this context the objectives of the session are to some extent to elaborate on the success factors and challenges raised across financial products by the DFS notably comparing them with those already faced in the context of the roll out of the PSD2.
Questions to be addressed
- What are the key objectives, benefits, and possible challenges of the Digital Finance Strategy?
- What are the main technical and legislative building blocks required to achieve the ambitions of the EU Digital Finance Strategy?