Open Banking has enabled the emergence of innovative services in Europe, but adoption remains uneven and is hindered by fragmentation in practices, API standards, and levels of trust.
The new PSR / PSD3 framework changes the game by introducing measurable operational requirements, while FIDA paves the way toward Open Finance.
This white paper provides a fact-based reading of the market and, above all, a clear execution framework for banking players.
Part 1 — The State of Open Banking in Europe: Between Acceleration and Under-Adoption
Part 2 — PSD3 & PSR: A New Structuring Framework for Open Banking - From fragmentation to harmonisation: the ambition of the PSR The 4 major impacts of the PSR
In summary: PSR, a transformation—not a simple adjustment
Part 3 — FIDA: The Future of Open Finance Is Taking Shape - The shift from Open Banking to Open Finance - Major simplification proposals under review based on the “non papers”
- What stakeholders must do, starting now Conclusion — Seizing the opportunity, now
In France, Open Banking adoption has primarily been structured around account information services (AIS), with uses oriented toward financial management, wealth consolidation, and connected administrative services.
These dynamics, as well as the concrete use cases observed in the French market , are detailed in our report produced with Powens on Open Banking adoption in France .
In Italy, the adoption trajectory differs significantly. As in most European markets, AIS initially drove usage, primarily in B2B, through SMEs, ERPs, and accounting tools.
However, since 2022, a new dynamic has taken hold : payment initiation (PIS) has become the main growth driver. Led by players such as Fabric k , this acceleration is reflected in a sharp increase in volumes.
This dynamic is most visible in the amounts processed, which rose from approximately €184M in H1 2022 to nearly €1 .3bn in H1 2024 , while the number of transactions decreased slightly. Usage is therefore shifting toward fewer payments but higher amounts, signalling a move from experimentation phases to more mature and structuring use cases.
Beyond these differences, gaps between countries are also driven by factors such as trust in financial data sharing and perceived security.
To explore these dimensions further (attitudes, expectations, digital behaviours), see our Digital Banking Experience 2025 study.
PSR marks a shift in the regulator’s stance: it is no longer only about opening access to data, but about guaranteeing reliable, transparent, and non-discriminatory customer journeys, enabling fintechs and third parties to offer a level of performance, availability, and functional scope equivalent to that of banking interfaces used by end customers.
Need an operational framework before PSR arrives? Take a look at Open Finance: from compliance to growth.
At Sopra Steria, we support you on this journey, starting now, particularly through our PSR Readiness Check: a fast, operational, and fact-based assessment.
By expanding the scope of shared data beyond payment accounts (savings, investment, credit, insurance, etc.), FIDA opens up a broader playing field but also a more demanding one. For decision-makers, the goal is not to open everything immediately, but to:
Note: The analyses and conclusions presented in this white paper are based on the versions of the texts available at the time of writing. They are expected to be refined as the regulatory framework is finalised, with the final version of the PSR expected in the first half of 2026.
Open Banking allows third parties, with the customer’s consent, to access payment account data via regulated APIs in order to offer account information or payment initiation services.
Open Banking, introduced by PSD2 and reinforced by PSR, is limited to sharing payment account data.
Open Finance, driven by the proposed FIDA regulation, extends this principle to all financial products (savings, credit, insurance, investments, pensions, etc.), with more structured governance and sector-based sharing schemes.