Europe

Formed in 2013 to support the deliver of PSD2 Open Banking, FDATA Europe continues push for policy, technology standards, and ecosystem collaboration to promote choice, innovation, and competition that result in better financial outcomes for consumers.
Formed in 2013 to support the deliver of PSD2 Open Banking, FDATA Europe continues push for policy, technology standards, and ecosystem collaboration to promote choice, innovation, and competition that result in better financial outcomes for consumers.
Driven by technology, new business models, and safe and secure digital solutions, FDATA serves as a meeting place for firms to exercise their share of voice in shaping how customer centric regulation can expand into Open Finance and Open Data, renew their commitment to a more fair and accessible financial services market, and empower consumers to maximise the value of their finances.
We provide our members direct representation and engagement with policy makers and regulatory authorities, and serve as a united collective in negotiating with other ecosystem players to ensure a fair and level competitive playing field for fintechs to thrive, one which promotes innovation and ensures better customer outcomes.
What are we doing in Europe

As PDS2 and Open Banking take hold across Europe and the UK, we are actively campaigning on several key challenges that include:

  • 90 Day Reauthentication requirement – this rule is proving to be an obstacle to fintech success, as it negatively impacts customer retention and causes disruption to the customer connection. FDATA is pushing for its removal from the legislation in both the UK and Europe. In the UK, the FCA is considering how to resolve the matter, with the CMA recommending that the rule be removed, and the whole matter of reaffirmation of consent be reviewed. In the EU, we continue to challenge the EBA’s assumption that it is not an obstacle for fintechs and, are leveraging the progress in the UK to serve as an example for EU authorities to follow.
  • AML/CFT requirements for fintechs – one unintended consequence of PSD2 is the inclusion of TPPs under the requirement to perform AML checks on every transaction. FDATA is campaigning to remove this requirement from fintechs, since it is redundant and burdensome; it also makes little sense in terms of risk, since fintechs do not actually perform the transactions. We have responded to industry consultations on the matter, and continue to provide technical, legal, political, and cost evidence as to why removing AML obligations is the right thing to do.
  • Open Finance, Digital Finance strategies, and Payment Landscapes – FDATA has developed a blueprint for Open/Digital Finance and, is actively campaigning to expedite its adoption into legislation. There are a number of active consultations going on across this space and we have contributed to each and every one and, will continue to do so as the conversations progress.
Regional Director
Ghela Boskovich

Ghela is the Regional Executive Director of FDATA Europe, as well as a self-proclaimed fintech fanatic and founder of FemTechGlobal, a network dedicated to improving inclusiveness and diversity in Financial Services.

Frequent keynote speaker and editorial contributor, Ghela has spent the last 15 years focused on fast-tracking internal fintech/bank collaboration and commercialisation. She is an experienced solution design strategist within financial services and insurance, with a successful track record in business development, revenue growth, and go-to market strategy execution.

Ghela’s strong regulatory economic background lends an ability to navigate policy implications and compliance mandates with a commercial angle, as well as identify new commercial opportunities in a rapidly changing regulatory landscape. She is a confirmed evangelist for an ethical data democracy, individual consumer empowerment over their data, data economy disruptive business models, and facilitating banks’ emerging technology consumption.

She is currently leading the industry campaign to reform 90-day reauthentication requirements, to properly reflect consent and customer directed data.

What we do for members

We lobby government, regulators, policy makers and key stakeholders to support the benefits Open Banking and Finance brings to end consumers.

We represent our members’ views, giving them a collective seat at the industry negotiation table. We hold seats on a number of policy working groups, expert advisory groups, and task forces related to Open Banking. In these various forums, we ensure the risks and impacts to fintechs are considered, and that a collective position on the solution to these matters is presented to decision makers. We provide collective bargaining and negotiating power that individual firms cannot achieve on their own.

We also provide direct access and engagement to these decision makers for our members, with regular opportunities to speak directly to policy makers in industry roundtables we host.

FDATA gives members forward intelligence on key policy matters, changes, and trends. Our members can participate directly in various working groups, who serve to shape FDATA’s policy positions and recommendations.

We offer our member firms individual consultations on various policy, market positioning, and market expansion strategies. This service extends to introductions to potential partners across the ecosystem, from direct connections to opportunities to socialise with other ecosystem players at our hosted events and industry roundtables.

Annual subscription for membership of FDATA is based upon the employee headcount a company maintains in each region. Please contact the Region Director directly to discuss the benefits of membership and pricing applicable to your regional presence.
Membership Categories
1.
1-9 employees
2.
10-19 employees
3.
20-49 employees
4.
50-99 employees
5.
100-249 employees
6.
250-499 employees
7.
500+ employees
Invest in FDATA and help us shape the future
FDATA is working on a series of webinars and an Open Finance podcast, bringing the discussion on the future of banking to the comfort of your home office. Watch this space for updates on our digital events.
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