Open Banking in Norway

Norway implements PSD2 as a member of the European Economic Area (EEA), with the Norwegian Finanstilsynet overseeing compliance. Norwegian banks, including DNB, SpareBank 1, and Nordea (Norway), have deployed open banking APIs using Berlin Group NextGenPSD2 standards.

Norway's BankID system, used by virtually all Norwegian adults for digital identity verification, provides robust authentication infrastructure for open banking consent flows. The country's 98% internet penetration and advanced digital payment culture (Vipps mobile payments) create strong conditions for open banking adoption.

The Norwegian fintech sector benefits from Nordic cross-border collaboration and a supportive regulatory environment. Norway's wealth management and payments markets are particularly active areas for open banking innovation. As an EEA member, Norway aligns closely with EU regulations while maintaining flexibility in implementation details.