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Open Finance Association

OFA

The Open Finance Association represents companies focused on empowering consumers and businesses through opening up financial data and payments.

Lobbying Activity

Meeting with Eric Ducoulombier (Acting Director Financial Stability, Financial Services and Capital Markets Union)

17 Jul 2025 · Discussion on current regulatory frameworks and legislative proposals with regard to Open Finance and Open Banking.

Meeting with Virginijus Sinkevičius (Member of the European Parliament)

18 Feb 2025 · PSR, PSD3

Meeting with Eric Ducoulombier (Head of Unit Financial Stability, Financial Services and Capital Markets Union)

17 Feb 2025 · General catch up on Payment Services Directive and Regulation (PSD3/PSR), Instant Payments Regulation

Response to Payment services – revision of EU rules (new Regulation)

1 Nov 2023

The Open Finance Association (OFA) welcomes the European Commissions proposal on payment services in the internal market and amending Regulation (PSR) and the proposal on the third Directive on payment services and electronic money services in the Internal Market (PSD3). We support the Commissions approach of a natural evolution to the current rules in the second Payments Services Directive (PSD2). They hold the potential to further empower consumers and businesses by enabling them to use more of their financial data and account functions via regulated third parties. OFA supports a more consistent and uniform application of rules for digital payments in the EU which fosters clarity and brings a harmonised regulatory approach across the Member States. This will create an environment more conducive to achieving the European Commissions vision for an integrated, modern and safe EU payments market. OFA believes the key focus areas for the PSR/PSD3 are: Improving open banking through better APIs and establishing a minimum, uniform functionality for data and payment initiation services. Improving SCA implementation by focusing on removing obstacles and enabling higher quality user experiences. Ensuring a consistent application of the rules through a more active and engaged supervisory model and increased transparency.
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Meeting with Florian Denis (Cabinet of Commissioner Mairead Mcguinness) and FTI Consulting Belgium

24 Oct 2023 · P2S2 review and Open Finance Framework

Meeting with Valeria Miceli (Cabinet of President Ursula von der Leyen)

13 Jul 2023 · Exchange of views on the recently adopted digital finance package (review of the PSD2 and FIDA Regulation) plus instant payments.