Open Finance in the Context of the PSD2 Review and an Open Finance Framework

Bitkom on Open Finance in the Context of the Current EU Commission Consultations on the PSD2 Review and an Open Finance Framework

The ongoing political discussions on developing a European Open Finance Framework are highly welcomed by Bitkom and its members. Having embraced early on an eco-systemic approach toward finance, Bitkom – from a finance point of view – voices the industry perspectives of banks, exchanges, insurers, and other financial entities as well as FinTechs, third party providers, and tech companies.

The following aims to focus on industry developments mostly unleashed by PSD2/XS2A and thereby add to the ongoing political discussions linked to establishing an Open Finance Framework (vertical developments) and general debates about the European Data Economy (horizontal developments).