Asia – India

Working closely with FDATA, the Indian Software Products Industry Roundtable (iSPIRT) developed Sahamati, the new collective of the account aggregator ecosystem which has stakeholders from all sides of the market. FDATA’s clear mission is to represent the data recipients or fintech role.
India has introduced a full customer data right which is currently going through Parliament with the intention of delivering through APIs, all financial products and then afterwards, extending beyond that following a scope similar to that of the Australian model. Having already delivered on the Unified Payments Interface (UPI) and Aardhar, India has a notable track record of delivering these programs at scale.
The Reserve Bank of India has appointed the Reserve Bank Information Technology Private Ltd. (ReBIT) to develop their technical standards. FDATA, together with the Open ID Foundation, will meet with them to encourage alignment with FAPI. There are exceptional market opportunities to be supported and realized on behalf of the consumer and ecosystem as a whole.
What we are doing in Asia – India

FDATA has played an active and successful role in Europe, particularly in the UK during its introduction of Open Banking. Our liaison with the CMA, FCA and Treasury, and position on the Board of Open Banking, helped to merge the dual introductions of the EU’s PSD2 and the UK’s API. We are now active in pressing for an extension of the scope of the UK’s API, and at EU level for refinements to
the implementation of the RTS to mitigate its unintended consequences.

Regional Director
FDATA is currently transitioning the leadership. If you would like to be considered in the search, please contact FDATA’s CEO, Richard Prior for further details.

The biography of the Region Director for FDATA Asia-India will be forthcoming when the search process has been concluded and the successful candidate announced to the market.

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.
What do you get for memberships?
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

FDATA partners with Robo-Advice 2018

FDATA has been named as a media partner for the 2nd UK Robo Advice and Digital Wealth Summit.

FDATA Europe Analysis of PSD2 Implementation Challenges V2

FDATA Europe – Assessment of the Challenges in PSD2 Implementation V2 This report catalogues some of the technical challenges encountered by Third Party Providers (TPPs) during their initial connections with the Open Banking Directory and in particular thereafter with the API connections identified in a technical workshop organised by FDATA . 

FDATA, EMA, techUK, UK Finance publish voluntary guidelines

FDATA, together with the Electronic Money Association, techUK and UK Finance, have published a set of voluntary guidelines and encouraged market behaviours under PSD2 in the ‘transitional period’. You can download them below. Voluntary-Guidelines-and-Encouraged-Market-Behaviours-Under-PSD2-FINAL

Open Banking: FAO CMA Proposed amendments to the Agreed Arrangements

This paper sets out a number of amendments to the Proposed Amendments to the Agreed Arrangements to fulfil the objectives of the Retail Banking Market Investigation Order 2017. Open Banking: Proposed amendments to the Agreed Arrangements

UK’s Open Banking Project Expanded

Open Banking Standards to Expand Functionality and Cover all PSD2 Products The Open Banking Implementation Entity (OBIE), the body set up by the Competition & Markets Authority (CMA) to enable a new, secure way for customers to take control of their financial data and share it with organisations other than their banks, today announces a […]

FDATA paper – right of EU passport under PSD2

This note aims to address some of the market confusion in relation to the rights of firms to move between EU jurisdictions when performing operations related to the second EU Payment Services Directive (PSD2). FDATA – EU Passport under PSD2 – April 2018

RTS deadline

The Regulatory and Technical Standards (RTS) of PSD2 have been published in the Journal of the EU. This starts the clock on an 18 month compliance timescale, meaning that RTS will be in force on 14th September 2019. The publication can be viewed here.

FDATA WELCOMES THE START OF OPEN BANKING

Leading fintech trade association calls launch “the first waypoint on a long journey” The Financial Data and Technology Association, the leading advocate of open banking in the UK and around the world, has welcomed the parallel implementation of PSD2 across Europe, and the launch of Open Banking amongst the large banks here in the UK. […]

Open Banking 2020-2030 Summit

FDATA is hosting a Summit in December to chart the Open Banking journey to 2030. Open banking is the midwife of innovation. It is driving innovation at a breathtaking rate. The consumer tools of the future have not yet been invented. This is the fintech revolution in action. But the journey is long, and we’ve […]

Fintech Connect Live 2017

Fintech Connect Live 2017: 6-7 December FDATA is delighted to be a media partner of Fintech Connect Live 2017 taking place on the 6 and 7 December at Excel London. Combining the hustle and bustle of an exhibition featuring over 3000 visitors, and 200 exhibitors and partners from over 50 countries, FinTech Connect Live is […]

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