FiDA set to be withdrawn: what remains for data access, consent and APIs
November 2026. In its 2027 work programme of 4 November 2026, the European Commission announced that it will withdraw the FiDA proposal.
FiDA was meant to extend regulated data access beyond payment accounts, for example to savings, investments, insurance and credit. Without it, Open Finance stays voluntary and market-driven for now. The questions behind it remain.
Consent
Customers decide who may access their data. Banks need to show, withdraw and evidence that permission, which makes consent a product question as well as a legal one.
APIs
For payment accounts, the PSR raises the bar for interfaces and adds permission dashboards. Banks that run data interfaces as products with clear owners can build Open Finance offers with partners even without an obligation.
Operating model
The data sits across many business units. Someone has to own it, decide on access and coordinate delivery across product, IT, risk and compliance.
A practical first step pays off either way: map the relevant data, its owners and the PSD2 interfaces and consent processes you can reuse.