Open Finance and FiDA: What retail customers want

Open finance is becoming a reality and the EU's Financial Data Access (FiDA) regulation is the first binding regulation for access to financial data - secure, standardised and cross-platform. For financial service providers, this means the starting signal for a new financial data ecosystem: with new rules, new customer expectations - and new opportunities.

But how are customers reacting to this development? What services do they really want? And under what conditions are they willing to share their data?

Our latest study provides answers „Open Finance & FiDA im Retail-Geschäft“. Based on a representative survey of over 3,000 private customers in Germany, we analyse how willing people actually are to share their data, which target groups have a particular affinity for open finance - and which specific offers are now in demand.

Our experts categorise the regulatory developments, show practical use cases and present four strategic positioning options for financial institutions.

Ready to talk? Contact us

Open Finance and FiDA in the retail business

Race for the customer interface: What customers want now.

Download now

Customers want these open finance services now: The top 3 mentions

These are the three most important conditions for when customers share their data:

78% of respondents cite high data security as a mandatory requirement.
69% demand that no additional costs are incurred through use.
68% make the trustworthiness of the provider a condition.

Customer interest in open finance has never been as strong as it is now. At the same time, the EU FiDA regulation creates the binding basis for open finance and makes it a market principle. One thing is clear: It is not necessary for every institution to take the lead role. There are a variety of strategic options, from cooperation partner to data-driven process optimiser to bancassurance provider. Now is the time to position yourself strategically.