We want to learn how open finance works in practice for innovative firms in Europe. Are you a company or a project considering to leverage open finance, and are you keen to help regulators find the right approach to open finance? Open finance refers to third-party service providers’ access to (business and consumer) customer data held by financial sector intermediaries and other data holders for the purposes of providing a wide range of financial and information services. As the Payment Services Directive PSD2 – a milestone for open finance in the EU – is being reviewed, the European Commission is also considering how to promote safe open finance beyond the scope of the PSD2, across the financial sector and beyond.

In parallel to our ongoing public consultation on open finance on policy related questions, the European Commission is keen to learn about innovative projects in this area being developed by start-ups in different Member States. If you are willing to give us a virtual presentation of your project, apply by sending a very short description of your project to fisma-B4@ec.europa.eu by 12h00 CEST on 1 July 2022. A selection of the applicants would be invited to present their projects in a virtual Fintech lab with the European Commission later in the summer.

Open finance

Any company or a project considering to leverage open finance in an EU Member State.