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Open Banking & Finance Regulations Directory

Track 33+ open banking and open finance regulations worldwide, including upcoming frameworks.

Open Banking and Open Finance regulations are transforming financial services globally. These frameworks require banks to share customer data with authorized third parties through secure APIs, enabling innovation, competition, and better consumer outcomes. This directory tracks 33+ regulatory frameworks worldwide.

📋
33
Regulations Tracked
✅
21
Currently Active
🔜
12
Upcoming
🌍
27
Jurisdictions

Key Upcoming Regulations

PSD3

European Union

Upcoming

The proposed third Payment Services Directive aims to address shortcomings of PSD2, improve API performance standards, enhance fraud prevention, and e...

AISPISCBPIIOpen Finance
View details →

FIDA

European Union

Upcoming

FIDA extends open banking principles beyond payment accounts to a wider range of financial products including mortgages, loans, savings, investments, ...

MortgagesLoansSavingsInvestments
View details →

Canadian Open Banking

Canada

Upcoming

Canada's consumer-driven banking framework will require federally regulated financial institutions to implement secure data sharing APIs. After years ...

Deposit AccountsCredit CardsMortgagesLines of Credit
View details →

Section 1033

United States

Upcoming

The CFPB's Section 1033 rule establishes consumer rights to access and share their financial data. It requires data providers to make consumer financi...

Deposit AccountsCredit CardsPayment Facilitation
View details →

Filter Regulations

By Region

By Status

By Type

RegulationJurisdictionTypeStatusScopeEffectiveView
PSD2Payment Services Directive 2
European UnionEurope
Payment ServicesActive
AISPISCBPII
2018Full: 2019
View →
PSD3Payment Services Directive 3
European UnionEurope
Payment ServicesUpcoming
AISPISCBPII+1
2026Full: 2027
View →
FIDAFinancial Data Access Regulation
European UnionEurope
Open FinanceUpcoming
MortgagesLoansSavings+3
2027Full: 2029
View →
UK Open BankingOpen Banking Implementation Entity (OBIE)
United KingdomEurope
Open BankingActive
AISPISVRP
2018Full: 2019
View →
Smart Data SchemesUK Smart Data Roadmap
United KingdomEurope
Open FinanceUpcoming
PensionsSavingsInvestments+3
2025Full: 2027
View →
CDRConsumer Data Right
AustraliaOceania
Open FinanceActive
BankingEnergyTelecommunications+1
2020Full: 2022
View →
Open Finance BrasilBrazilian Open Finance
BrazilLatin America
Open FinanceActive
BankingInsurancePensions+2
2021Full: 2023
View →
Account AggregatorAccount Aggregator Framework
IndiaAsia
Open FinanceActive
BankingSecuritiesInsurance+2
2021Full: 2023
View →
SGFinDexSingapore Financial Data Exchange
SingaporeAsia
Open FinanceActive
BankingInsuranceInvestments+1
2020Full: 2021
View →
Open API FrameworkHong Kong Open API Framework
Hong KongAsia
Open BankingActive
AISPIS
2019Full: 2022
View →
Open API BankingJapanese Banking Act Amendment
JapanAsia
Open BankingActive
AISPIS
2018Full: 2020
View →
MyDataKorean MyData Framework
South KoreaAsia
Open FinanceActive
BankingInsuranceSecurities+2
2022Full: 2023
View →
Open Finance MexicoMexican Fintech Law - Open Finance
MexicoLatin America
Open FinanceActive
Aggregated DataTransactional DataOpen Data
2020Full: 2024
View →
Open Finance ColombiaColombian Open Finance Framework
ColombiaLatin America
Open FinanceUpcoming
BankingInsuranceSecurities
2025Full: 2026
View →
Fintech Law ChileChilean Fintech Law - Open Finance
ChileLatin America
Open FinanceActive
BankingInsuranceSecurities
2023Full: 2026
View →
Canadian Open BankingConsumer-Driven Banking Framework
CanadaNorth America
Open BankingUpcoming
Deposit AccountsCredit CardsMortgages+1
2026Full: 2027
View →
Section 1033CFPB Section 1033 - Personal Financial Data Rights
United StatesNorth America
Open BankingUpcoming
Deposit AccountsCredit CardsPayment Facilitation
2025Full: 2030
View →
Saudi Open BankingSaudi Arabia Open Banking Framework
Saudi ArabiaMiddle East
Open BankingActive
AISPIS
2022Full: 2024
View →
UAE Open FinanceUAE Open Finance Framework
United Arab EmiratesMiddle East
Open FinanceUpcoming
BankingInsuranceInvestments
2026Full: 2027
View →
Bahrain Open BankingBahrain Open Banking Framework
BahrainMiddle East
Open BankingActive
AISPIS
2020Full: 2021
View →
Nigeria Open BankingNigerian Regulatory Framework for Open Banking
NigeriaAfrica
Open BankingActive
AISPIS
2023Full: 2024
View →
South Africa Open BankingSA Open Finance Framework
South AfricaAfrica
Open FinanceUpcoming
BankingInsuranceInvestments
2026Full: 2028
View →
Kenya Open FinanceKenya Open Finance Policy
KenyaAfrica
Open FinanceUpcoming
BankingMobile MoneyInsurance
2025Full: 2027
View →
NZ CDRNew Zealand Customer and Product Data Bill
New ZealandOceania
Open FinanceUpcoming
BankingElectricityTelecommunications
2025Full: 2027
View →
Thailand Open BankingBank of Thailand Open Banking Guidelines
ThailandAsia
Open BankingActive
AISPISPromptPay
2021Full: 2024
View →
Malaysia Open BankingOpen Banking Implementation Framework
MalaysiaAsia
Open BankingActive
AISPISDuitNow
2022Full: 2025
View →
Philippines Open FinanceBSP Open Finance Framework
PhilippinesAsia
Open FinanceUpcoming
BankingE-MoneyInsurance
2025Full: 2027
View →
Indonesia Open BankingSNAP - Standard National Open API Payment
IndonesiaAsia
Open BankingActive
AISPISQRIS
2022Full: 2025
View →
Taiwan Open BankingTaiwan Open Banking Framework
TaiwanAsia
Open BankingActive
AISPISProduct Information
2019Full: 2023
View →
Swiss Open BankingSwiss Open Banking API Standards
SwitzerlandEurope
Open BankingActive
AISPIS
2020
View →
eIDAS 2.0European Digital Identity Regulation
European UnionEurope
Digital IdentityUpcoming
Digital Identity WalletsIdentity VerificationElectronic Signatures
2024Full: 2026
View →
DORADigital Operational Resilience Act
European UnionEurope
Operational ResilienceActive
ICT Risk ManagementIncident ReportingThird-Party Risk
2023Full: 2025
View →
EU Instant Payments RegulationRegulation on Instant Credit Transfers in Euro
European UnionEurope
Payment ServicesActive
Instant PaymentsSEPA Credit TransfersVerification of Payee
2024Full: 2025
View →

What is Open Banking?

Open Banking is a regulatory and technological movement that requires banks to share customer financial data with authorized third-party providers (TPPs) through secure APIs. This enables consumers to share their banking data with fintech apps, comparison services, and other financial providers to access better products and services.

🔐

Account Information Services (AIS)

AISPs can access account data (balances, transactions) with customer consent. Used for aggregation, personal finance management, and credit scoring.

💸

Payment Initiation Services (PIS)

PISPs can initiate payments directly from bank accounts. Enables account-to-account payments without cards, reducing fees and fraud.

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Card-Based Payment Instruments (CBPII)

CBPIIs can confirm available funds before card transactions. Helps merchants verify payment capability without accessing full account details.

The Evolution from Open Banking to Open Finance

Open Banking initially focused on payment accounts, but regulators worldwide are now expanding to Open Finance—covering savings, investments, mortgages, pensions, and insurance. This broader scope enables comprehensive financial data portability and more sophisticated services.

2018

PSD2 Goes Live

EU's Payment Services Directive 2 requires banks to provide APIs for account access. UK Open Banking launches alongside.

2020

Global Expansion

Australia's CDR launches. Brazil begins Open Finance implementation. Singapore SGFinDex goes live.

2024

US Section 1033

CFPB finalizes Personal Financial Data Rights rule, establishing Open Banking in the United States.

2026

PSD3 & FIDA

EU's next generation of Open Finance regulations expected, extending to mortgages, pensions, and insurance.

Key Regulatory Frameworks

  • PSD2/PSD3 (EU) — Payment Services Directives requiring secure API access for licensed TPPs
  • FIDA (EU) — Upcoming Financial Data Access regulation extending Open Finance beyond payments
  • UK Open Banking — CMA-mandated standards with the world's highest adoption rates
  • Section 1033 (US) — CFPB rule establishing consumer financial data rights
  • CDR (Australia) — Economy-wide Consumer Data Right expanding beyond banking
  • Open Finance Brasil — Comprehensive framework including insurance and investments
  • Account Aggregator (India) — Unique consent-layer architecture for financial data sharing

Regulatory Models

  • Mandate Model — Regulators require banks to provide APIs (EU PSD2, UK, Australia). Ensures universal coverage but may limit innovation.
  • Market-Led Model — Industry develops standards voluntarily (Singapore, Switzerland). More flexible but may have uneven adoption.
  • Hybrid Model — Government guidance with industry implementation (Japan, Hong Kong). Balances direction with market flexibility.

Benefits of Open Banking Regulations

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Innovation & Competition

Enables fintechs to build innovative services on bank data. Increases competition and reduces barriers to entry in financial services.

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Consumer Empowerment

Gives consumers control over their financial data. Enables switching, comparison, and access to better financial products.

💰

Cost Reduction

Account-to-account payments reduce card network fees. Automated data access eliminates manual processes.

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Enhanced Security

APIs with strong authentication replace screen scraping. Standardized security reduces data breach risks.

Complementary Regulations & Standards

Open Banking doesn't exist in isolation. Several complementary regulations and industry initiatives work together to create a comprehensive open finance ecosystem.

🆔

eIDAS 2.0 - Digital Identity

EU digital identity wallets enable secure identification and authentication for Open Finance services.

🛡️

DORA - Operational Resilience

EU regulation setting ICT security standards that impact Open Banking API security and incident reporting.

⚡

Instant Payments

EU regulation requiring 24/7 instant euro transfers, enhancing PIS use cases and payment efficiency.

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E-Invoicing Regulations

Electronic invoicing mandates work alongside Open Banking for automated reconciliation and payments.

Getting Ready for Open Banking Compliance

Whether you're a bank, fintech, or enterprise, preparing for Open Banking regulations requires:

  • Understanding applicable regulations in your operating jurisdictions
  • Assessing technical readiness for API development or integration
  • Implementing Strong Customer Authentication (SCA) mechanisms
  • Establishing consent management and data governance frameworks
  • Obtaining necessary licenses (AISP, PISP, CBPII, or equivalent)
  • Working with API aggregators for multi-bank connectivity
  • Planning for upcoming regulations (FIDA, PSD3, etc.)

Build with Open Banking APIs

Explore our directory of API aggregators, TPPs, and banking APIs to accelerate your Open Banking integration.

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