Updated Financial Data Access (FIDA) Regulation Timeline: A Complete Guide
Updated: Oct 21
TL;DR
Here's a short summary table you can reference, although there are more details in the blog post below.
Entry into force | 20 days after publication in the Official Journal. FIDA is still in trilogue negotiations, so the date is not yet set. |
|---|---|
24 months after | Credit agreements for consumers, accounts, savings, motor insurance. |
36 months after | Credit agreements related to residential immovable property, investments in financial instruments, crypto assets, personal pension products, entry knowledge tests. |
48 months after | Other credit, firm creditworthiness, non-motor insurance, insurance-based investment products, and insurance-based individual pension products. |
5 years after | Impact and effectiveness assessment. |
Updated FIDA Timeline
On December 4, 2024, the Council of the EU released a revised proposal for the Financial Data Access (FIDA) regulation (the document). This blog post covers the updated FIDA timeline according to the latest information outlined in the Council's proposal.
Where FIDA stands now (October 2026): the European Commission proposed FIDA in June 2023, and the Council agreed its position on December 4, 2024. The file is now in trilogue negotiations between the European Parliament, the Council and the Commission, with Ireland holding the Council Presidency in the second half of 2026. The final text has not been agreed yet, so the phase dates below count from an entry-into-force date that is still to be set.
June 3, 2026: Commission Proposes the Cloud and AI Development Act (CADA)
The European Commission proposed the Cloud and AI Development Act (CADA, COM(2026) 502), which sets four assurance levels for cloud infrastructure that processes sensitive EU data. Its Article 18 sovereignty requirements may apply to FDSS and FISP infrastructure, and its obligations are expected to arrive in the same 2028 to 2029 window as FIDA. Full analysis.
Key Dates and Timelines
Here's a breakdown of the key dates and timelines associated with the FIDA regulation, based on the latest Council proposal:
Regulation Entry into Force
20th day following publication in the Official Journal of the European Union. The publication date depends on when the trilogue negotiations conclude.
Phased Implementation
FIDA will be implemented in three phases, each focusing on specific categories of customer data. This phased approach allows data holders (e.g., banks, insurers) to gradually adapt to the new requirements and ensures a smooth transition to the new data-sharing framework. Articles 9 to 11 of the FIDA regulation, which address financial data sharing scheme membership, requirements, and empowerment for delegated acts, will come into effect 6 months before each phase's commencement to ensure a proper setup of the data-sharing ecosystem.
Phase 1 (24 months after entry into force):
Customer data on credit agreements for consumers
Customer data on accounts
Customer data on savings
Customer data on motor insurance, including data collected for demands and needs assessment (Article 20 of Directive (EU) 2016/97)
Phase 2 (36 months after entry into force):
Customer data on credit agreements for consumers relating to residential immovable property
Customer data on investments in financial instruments, including data related to customers' sustainability preferences and suitability and appropriateness assessments (Article 25 of Directive (EU) 2014/65)
Customer data on crypto assets, including data collected for suitability and appropriateness assessments (Article 81(1) of Regulation (EU) 2023/1114)
Customer data on personal pension products, including information held on Pan-European Pension Product (PEPP) accounts and PEPP contracts
Customer data on entry knowledge tests (Article 21 of Regulation (EU) 2020/1503)
Phase 3 (48 months after entry into force):
Customer data on credit agreements (excluding those covered in Phases 1 and 2)
Customer data forming part of a creditworthiness assessment of a firm
Customer data on non-motor insurance, including data collected for demands and needs assessment (Article 20 of Directive (EU) 2016/97)
Customer data on insurance-based investment products, including data related to customers' sustainability preferences and suitability and appropriateness assessments (Article 30 of Directive (EU) 2016/97) and insurance-based individual pension products
5-Year Evaluation
Five years after the entry into force of FIDA, the European Commission will conduct an evaluation of the regulation and submit a report on its findings to the European Parliament, the Council, and the European Economic and Social Committee. This evaluation will assess the impact of FIDA, including its effectiveness in achieving its objectives and any challenges or areas for improvement.
Implications for Businesses
The phased implementation of FIDA provides businesses with a clear timeline to prepare for compliance. Data holders, such as banks and insurers, must ensure they have the necessary infrastructure and processes in place to securely share customer data. Data users, such as fintech firms, need to understand the data access requirements and opportunities presented by FIDA.
InfraFIDA's Role
InfraFIDA is committed to supporting businesses in navigating the FIDA landscape. Our expertise in open finance and data sharing can help you ensure compliance, optimize data access, and leverage the opportunities presented by FIDA (and more).
Stay Informed
As the FIDA framework evolves, it's crucial to stay informed about the latest developments and requirements. InfraFIDA will continue to provide updates and insights to help you navigate the changing landscape of open finance. For a full overview of FIDA's scope and obligations, see our complete FIDA regulation guide.
Call to Action
Contact us today to discuss your specific needs and requirements.
Explore our previous blog posts for additional insights on FIDA and related topics:
Last updated: October 2026.
