FMA

Financial Market Authority

EU
🏛️
Jurisdiction
Austria
📋
Regulations
0
Open Banking frameworks
🌍
Region
EU
🔗
Type
NCA
National Competent Authority

About FMA

The Financial Market Authority (FMA) is the primary financial regulatory authority in Austria responsible for overseeing open banking and financial services. As a National Competent Authority (NCA), FMA ensures that banks and third-party providers comply with open banking regulations, protecting consumers while fostering innovation in financial services.

SCA Update: On 19 August 2019, the Austrian regulator announced a temporary enforcement extension for Austrian cards. Although they will not enforce SCA by 14 September, they expect to have additional details on the exact enforcement timeline by late September.

Jurisdiction

Austria
View Open Banking providers, banks, and TPPs in Austria

Key Responsibilities

Licensing and authorizing Third-Party Providers (TPPs) including AISPs and PISPs
Ensuring banks provide secure API access to authorized third parties
Monitoring compliance with Strong Customer Authentication (SCA) requirements
Investigating complaints and enforcing consumer protection standards
Publishing guidance and technical standards for open banking implementation
Coordinating with other regulators on cross-border open banking matters

Official Resources

Related Regulators

Other open banking regulators in the European Union:

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