Brussels, June 16, 2025: Joint EU FinTech letter on FIDA - views on European Commission simplification non-paper 

ETPPA has co-signed a joint EU FinTech industry letter to the European Commission, Council of the European Union, and European Parliament, laying out our joint views on the European Commission simplification non-paper (dated 16-May) on the proposed EU regulation on Financial Data Access (FIDA). 

As representatives of the European fintech ecosystem, we would like to convey our continued support for the European Commission’s proposed Regulation on Financial Data Access.

We welcome many positive provisions, which we believe will help streamline the FIDA regulation, for example:  alignment with PSR/PSD3; for the regulation to not be too prescriptive; and lessons from PSD2. 

At the same time, we would urge reconsideration of the following provisions, which would be extremely detrimental to EU fintechs, to their contribution to Europe’s competitiveness, and to customers’ ability to leverage their data in more innovative ways: i) limiting FIDA to retail customers data only; ii) excluding credit rating agencies from scope; iii) limiting historical data; iv) not allowing for a market led approach when it comes to FIDA schemes. 

The letter was co-signed by ETPPA, together with the Spanish Association for Fintech and Insurtech (AEFI), the French Association of Payment and Electronic Money Institutions (AFEPAME), Digital Invest Germany, the European Digital Finance Association (EDFA), France FinTech, PSD2 Software Industry Group (PSD2SIG), and the Swedish FinTech Association.

Click here to read the full joint letter.