FIDA
RegulationsFinancial Data Access Regulation
Definition
FIDA is an upcoming EU regulation that will extend Open Finance beyond payments to cover savings, investments, mortgages, pensions, and insurance. FIDA represents the evolution from Open Banking to comprehensive Open Finance in the European Union.
Related Terms
Frequently Asked Questions
What is Financial Data Access Regulation?
FIDA is an upcoming EU regulation that will extend Open Finance beyond payments to cover savings, investments, mortgages, pensions, and insurance. FIDA represents the evolution from Open Banking to comprehensive Open Finance in the European Union.
What does FIDA stand for in Open Banking?
FIDA stands for Financial Data Access Regulation. It is a fundamental concept in Open Banking and PSD2 regulations. FIDA is an upcoming EU regulation that will extend Open Finance beyond payments to cover savings, investments, mortgages, pensions, and insurance. FIDA represents the evolution from Open Banking to comprehensive Open Finance in the European Union.
How does FIDA affect Open Banking?
Financial Data Access Regulation is a regulatory framework that shapes how Open Banking operates. It establishes requirements for data sharing, security, and consumer protection that all participants in the ecosystem must follow.
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