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Future of European Fintech

Future of European Fintech brings together European fintech companies and associations that are seeking fair regulation of their services under the Payment Services Directive 2 (PSD2).

Europe has consistently demonstrated its ability to build and deliver world-class fintech innovation; the world’s first ATM was invented by Scotsman John Shepherd Barron and installed at a Barclays branch in London in 1967. Europe today continues to breed the world’s most innovative Fintech companies. We are those companies.

European political leadership has equally set a world class example with recent consumer-focused legislative actions, such as PSD2 and the General Data Protection Regulation. These legislative acts foster innovation and drive both competition and choice in the market. They also ensure that the highest standards of consumer protection are upheld and empower all European citizens with the ownership of their data.

We are now at a crucial moment in the finalisation of the technical standards of PSD2. We strongly believe that if some of the proposed standards are adopted, specifically those in relation to how fintechs communicate with banks on behalf of the consumer, they will have a severe adverse impact. They will have a negative impact on competition, they will jeopardise consumer control over their own financial data, and they will have a critical negative impact on the future trajectory of innovation in Europe. The proposed regulatory standards are inconsistent with PSD2 and will make fintechs technologically dependent on banks and therefore grant incumbents a gatekeeper role on the fintech sector.

We therefore engage in this industry-wide and important effort to safeguard the future of European fintechs. We do it for the benefit of all European consumers, for continued growth and innovation in e-commerce and for continued European leadership in this field.


Europe today continues to breed the world’s most innovative Fintech companies.
We are those companies.


Response to FIDO Alliance letter on PSD2.

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Comment on EBA’s opinion on the European Commission’s amendments to the RTS on authentication and communication under PSD2

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European Commission’s amendments to the Regulatory Technical Standards on Authentication and Communication under PSD2

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PSD2-compliant access not subject to an alleged "screen scraping ban"

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Opinion of the Bundeskartellamt [Federal Cartel Office] on the Draft Act of the German Federal Government

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* The original text is published on the German Bundestag website and can be found here.

We offer a non-binding English convenience translation which is provided by Bird&Bird and can be found by following the above button.


Use of bank-independent Payment Initiation Services that rely on forwarding credentials via “direct access” to the bank account must not be obstructed by collective action via banks’ terms & conditions: Decision of the German Federal Cartel Office of 29 June 2016 (Antitrust case B4-71/10 against Deutsche Kreditwirtschaft)

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* We offer a non-binding English convenience translation of the decision published on the FCO website ( see here the full text of the German original), provided by an external translation service; no official document.