Financial Supervisory Authority

Iceland Open Banking Regulator

EEA
🏛️
Jurisdiction
Iceland
📋
Regulations
3
Open Banking frameworks
🌍
Region
EEA
🔗
Type
NCA
National Competent Authority

About Financial Supervisory Authority

The Financial Supervisory Authority is the primary financial regulatory authority in Iceland responsible for overseeing open banking and financial services. As a National Competent Authority (NCA), they ensure that banks and third-party providers comply with open banking regulations, protecting consumers while fostering innovation in financial services.

Jurisdiction

Iceland
View Open Banking providers, banks, and TPPs in Iceland

Regulations Overseen

Financial Supervisory Authority is responsible for enforcing and monitoring compliance with the following open banking and financial regulations:

Key Responsibilities

Licensing and authorizing Third-Party Providers (TPPs) including AISPs and PISPs
Ensuring banks provide secure API access to authorized third parties
Monitoring compliance with Strong Customer Authentication (SCA) requirements
Investigating complaints and enforcing consumer protection standards
Publishing guidance and technical standards for open banking implementation
Coordinating with other regulators on cross-border open banking matters

Official Resources

Related Regulators

Other open banking regulators in the EEA:

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