Open Banking in Austria

Austria transposed PSD2 through the Zahlungsdienstegesetz 2018 (ZaDiG 2018), with the Finanzmarktaufsicht (FMA) as the supervisory authority. Austrian banks including Erste Group, Raiffeisen Bank International, and UniCredit Bank Austria have implemented open banking APIs.

The Austrian banking market, while smaller than Germany's, shares many characteristics including a mix of commercial, savings, and cooperative banks. Berlin Group NextGenPSD2 standards are widely adopted. Austria's 93% internet penetration and established digital banking habits support open banking adoption.

Vienna's growing fintech ecosystem benefits from Austria's position at the crossroads of Western and Central European financial markets, with fintech companies leveraging PSD2 APIs for services targeting both domestic and regional markets.