Competent Authority
RegulatorsDefinition
A Competent Authority, in the context of the Open Banking Ecosystem, is a governmental body or regulatory or supervisory authority having responsibility for the regulation or supervision of the subject matter of Participants. Examples include the FCA in the UK and national competent authorities across EU member states.
Related Terms
FCA
Financial Conduct AuthorityThe Financial Conduct Authority is the conduct regulator for 56,000 financial services firms and fin...
NCA
National Competent AuthorityA National Competent Authority is the regulatory body in each country responsible for authorizing an...
EBA
European Banking AuthorityThe European Banking Authority is an independent EU Authority which works to ensure effective and co...
Frequently Asked Questions
What is Competent Authority?
A Competent Authority, in the context of the Open Banking Ecosystem, is a governmental body or regulatory or supervisory authority having responsibility for the regulation or supervision of the subject matter of Participants. Examples include the FCA in the UK and national competent authorities across EU member states.
What does Competent Authority stand for in Open Banking?
Competent Authority is a key term in the Open Banking ecosystem. A Competent Authority, in the context of the Open Banking Ecosystem, is a governmental body or regulatory or supervisory authority having responsibility for the regulation or supervision of the subject matter of Participants. Examples include the FCA in the UK and national competent authorities across EU member states.
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EBA
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FCA
Financial Conduct AuthorityThe Financial Conduct Authority is the conduct regulator for 56,000 financial services firms and fin...
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