Open Banking Advent Calendar

December 9th

🎄Welcome to the 2024 Open Banking Advent Calendar 🎄

In today’s Advent Calendar, open banking expert Nicola Breyer discusses the transformative potential of FIDA (the Financial Data Access framework), part of the EU’s Open Data Act. Set to roll out across 27 countries in 2025, this regulation will redefine how financial data is shared and used.

Nicola highlights how FIDA extends the principles of open banking into open finance, creating opportunities for industries like insurance, wealth management, and financial advisory. Businesses must adapt by collaborating and innovating to unlock the regulation's full potential.

What makes FIDA so exciting? It’s not just a compliance exercise—Nicola sees it as the foundation for a new wave of customer-centric value creation, powered by consent-based data sharing. This data will also be pivotal for advancements in generative AI, enabling smarter, more personalized financial services.

Stay tuned as we count down to Christmas with more insights from the innovators shaping the future of fintech!