FIDA

Financial Data Access Regulation

UpcomingOpen FinanceEurope
European Union • Regulated by European Banking Authority (EBA)
📅
Effective Date
Jan 2027
Expected
Full Compliance
Jan 2029
🏛️
Regulator
European Banking Authority
EBA
📊
Scope Areas
6

Overview

FIDA extends open banking principles beyond payment accounts to a wider range of financial products including mortgages, loans, savings, investments, pensions, and insurance. It establishes 'Financial Information Service Providers' (FISPs).

Note: Part of the broader EU Open Finance framework. Phased implementation expected.

Applicable Countries

This regulation applies to all 27 EU Member States:

Scope & Coverage

This regulation covers the following areas and services:

MortgagesLoansSavingsInvestmentsPensionsInsurance

Key Requirements

Data sharing across financial products
Customer dashboards for consent management
Compensation schemes for data holders
Interoperability standards

Timeline

Expected Effective Date
January 1, 2027
Full Compliance Deadline
January 1, 2029

Official Resources

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