Open Finance in Europe is at a critical inflection point. It is no longer an emerging concept, but the implementation across Europe remains uneven. While adoption is progressing, differences in national implementation, technical reliability, and consumer trust limit the scaling and value creation.
Regulators are now stepping in to address these challenges. With the introduction of PSD3 and the Payment Services Regulation (PSR), Europe is moving towards a more consistent and user-centric Open Finance framework. These reforms aim to improve API quality, strengthen consumer protection, enhance fraud prevention, and increase transparency around data access and consent.
Looking ahead, FIDA (Financial Data Access) represents the next phase of Open Finance, extending data sharing beyond payments and enabling new cross-sector use cases. Together, these regulatory developments mark a shift from fragmented adoption towards a more integrated and resilient financial ecosystem.
This Open Finance paper offers banks, fintechs, and financial institutions a deep dive into the impacts of PSD3 and its future outlook, with practical examples of national approaches from France and Italy.