PSD2, explained in plain language
What the European open banking directive actually does, who the AISPs are, how 180-day consents and SCA work, and which regulator supervises your country.
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PSD2 / Open Banking
Regulator: European Banking Authority (EBA)
The Revised Payment Services Directive (PSD2) mandates regulated open banking access across the EU and EEA. BankSync connects through licensed AISPs authorised under PSD2 across the union.
Connections are made through licensed AISPs authorised under PSD2.
One directive, thirty markets
PSD2 turned bank data access from a scraping grey zone into a regulated right. Every bank in the EU and EEA must operate secure APIs, and only licensed providers may use them. Consent is granted on your bank's own pages under Strong Customer Authentication, scoped to account information, and revocable at any time.
Banks, AISPs, and national regulators
The directive is EU law, but supervision is national: each country's competent authority licenses and oversees the providers operating there, with the European Banking Authority keeping the central register. BankSync connects through Salt Edge, a licensed AISP, which holds the regulatory permissions so you do not have to.
Consents of up to 180 days
Since the 2023 amendment to the SCA technical standards, banks may issue account information consents lasting up to 180 days, and most EEA banks now do. Each bank sets its own window. BankSync tracks the expiry per connection and prompts you to renew with a quick re-authentication before data flow stops.
National competent authorities
The regulator responsible for PSD2 supervision in each country BankSync covers. Each country name links to its coverage page.
| Country | Competent authority |
|---|---|
| Austria | FMA (Austrian Financial Market Authority) |
| Belgium | National Bank of Belgium (NBB) |
| Bulgaria | Bulgarian National Bank (BNB) |
| Croatia | Croatian National Bank (Hrvatska narodna banka, HNB) |
| Cyprus | Central Bank of Cyprus |
| Czechia | Czech National Bank (Česká národní banka, CNB) |
| Denmark | Danish Financial Supervisory Authority (Finanstilsynet) |
| Estonia | Finantsinspektsioon (Estonian Financial Supervision and Resolution Authority) |
| Finland | Financial Supervisory Authority (Finanssivalvonta, FIN-FSA) |
| France | ACPR (Autorité de contrôle prudentiel et de résolution) |
| Germany | BaFin (Federal Financial Supervisory Authority) |
| Greece | Bank of Greece |
| Hungary | Magyar Nemzeti Bank (Central Bank of Hungary, MNB) |
| Iceland | Central Bank of Iceland (Seðlabanki Íslands) |
| Ireland | Central Bank of Ireland |
| Italy | Banca d'Italia (Bank of Italy) |
| Latvia | Latvijas Banka (Bank of Latvia; absorbed the FCMC as PSD2 competent authority in 2023) |
| Liechtenstein | Financial Market Authority Liechtenstein (FMA) |
| Lithuania | Bank of Lithuania (Lietuvos bankas) |
| Luxembourg | CSSF (Commission de Surveillance du Secteur Financier) |
| Malta | Malta Financial Services Authority (MFSA) |
| Netherlands | DNB (De Nederlandsche Bank) |
| Norway | Financial Supervisory Authority of Norway (Finanstilsynet) |
| Poland | Polish Financial Supervision Authority (Komisja Nadzoru Finansowego, KNF) |
| Portugal | Banco de Portugal (Bank of Portugal) |
| Romania | National Bank of Romania (Banca Națională a României, BNR) |
| Slovakia | National Bank of Slovakia (Národná banka Slovenska, NBS) |
| Slovenia | Bank of Slovenia (Banka Slovenije) |
| Spain | Banco de España (Bank of Spain) |
| Sweden | Swedish Financial Supervisory Authority (Finansinspektionen) |
Frequently asked questions
PSD2 FAQ
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