The third Payment Services Directive and the Financial Data Access regulation are shaping European open finance. A breakdown.
PSD3 extends and tightens PSD2: better-framed strong authentication, reinforced fraud prevention, and clearer responsibilities between banks and third-party providers.
In parallel, the FIDA regulation (Financial Data Access) extends the open banking logic to all financial data — savings, credit, insurance — under the user's control.
For a fintech, anticipating means three things: investing early in compliance, designing journeys where consent is explicit and revocable, and treating security as a product advantage rather than a constraint. That is the approach we adopted from day one.