EPIF is delighted to share its response to the European Commission targeted consultation on a open finance framework and data sharing in the financial sector.

EPIF considers that primarily Open Finance has brought more payment solutions and more options available. Notwithstanding, often provisions are not phrased in a technology-agnostic manner and can be overly prescriptive, which hampers innovation and does not allow for the entrance of new players or the development of new solutions.

EPIF calls therefore for the development of more future proof and proportionate provisions.