🎧 This episode dives into FIDA – the Financial Data Access Regulation. What does it mean for financial data, who will be allowed to access it, and how does it enable a full 360-degree financial overview? Tune in now!
Table of Contents
What is FIDA?
On 21 October 2025, the European Commission presented its work programme for 2026 – FIDA remains a “pending proposal”. Yet one thing is clear: FIDA paves the way from Open Banking to Open Finance.
Annerton lawyer Awet Yohannes explains how FIDA shapes this transformation. As always, the episode is hosted by Dana Wondra from Payment & Banking.
Who’s involved?
At the heart of FIDA are:
- Data holders, such as banks or insurance providers
- Data users, like fintechs
- Customers, whose financial data may be shared
The goal: to enable a complete overview of all financial information – from bank accounts to investment portfolios and insurance policies – all in one place.
New rules, new service providers
FIDA introduces a new category: financial information service providers. These will be permitted access to significantly more data than existing account information services – provided the customer gives consent.
A controversial point: customer data generated internally, such as credit scoring data, may also need to be shared. Many institutions criticise this as too far-reaching.
Conclusion
Trilogue negotiations are ongoing, but one thing is certain: FIDA will reshape the financial data access landscape across the EU.
About this Podcast
Alles Legal – Fintech-Recht kompakt delivers exciting weekly insights into legal and compliance matters in the banking sector.
The podcast is a collaboration between Payment & Banking and PayTechLaw. Each Wednesday, we explain the latest legal developments in the financial world – concise, clear, and jargon-free. Since 2021, PayTechLaw authors and Annerton lawyers have provided the depth this podcast needs, without slipping into legalese. Whether it’s PSD3, DORA or FiDA: we deliver the context you need. In 20 minutes. Straight to the point.
