FiDA Applies to the following categories of customer data: mortgage credit agreements, loans and accounts, savings, investments in financial instruments, insurance-based investment products, crypto-assets, real estate and other related financial assets as well as the economic benefits derived from such assets, pension rights in occupational pension schemes, pension rights on the provision of pan-European personal pension products, non-life insurance products, data which forms part of a creditworthiness assessment of a firm which is collected as part of a loan application process or a request for a credit rating.
Legal Basis for FiDA
FiDA applies to the following financial institutions: Credit institutions; payment institutions; electronic money institutions; investment firms; crypto-asset service providers; issuers of asset-referenced tokens; managers of alternative investment funds; management companies of undertakings for collective investment in transferable securities; insurance and reinsurance undertakings; insurance intermediaries and ancillary insurance intermediaries; institutions for occupational retirement provision; credit rating agencies; crowdfunding service providers; PEPP providers; financial information service providers.
Key Definitions
Consumer; a natural person who is acting for purposes other than his or her trade, business, or profession.
Customer; a natural or a legal person who makes use of financial products and services.
Customer data; personal and non-personal data that is collected, stored and otherwise processed by a financial institution as part of their normal course of business with customers which covers both data provided by a customer and data generated as a result of customer interaction with the financial institution.
Data holder; a financial institution other than an account information service provider that collects, stores, and otherwise processes any of the data in the category above.
Data User; anyone of the entities listed above that has lawful access to use any data described in the above categories.
Financial information service provider;a data user authorized to access customer data for the purpose of the provision of financial information services.