Open Banking in Romania

Live (Regulated)

Romania implements open banking through PSD2 with Banca Națională a României oversight and Berlin Group NextGenPSD2 standards.

Key Facts

Approach

Regulated

Regulatory Body

Banca Națională a României (BNR)

Key Legislation

PSD2 / Ordonanța de urgență nr. 113/2009 (amended)

Topics

Open Banking

Internet Penetration

84%

Data Scope

Payment accounts, Account information, Payment initiation, Confirmation of funds

Timeline

2015PSD2 adopted by the European Parliament and Council

2018PSD2 transposed into Romanian law; BNR oversees open banking compliance

Standards & Specifications

Berlin Group NextGenPSD21.3.12

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Open Finance in Romania

Romania transposed PSD2 into national law, with the Banca Națională a României (BNR) overseeing compliance. Major banks including Banca Transilvania, BCR, BRD, and ING Bank Romania have implemented open banking APIs following Berlin Group NextGenPSD2 standards.

Romania's IT sector is one of the strongest in Eastern Europe, providing technical talent for open banking development. Bucharest and Cluj-Napoca have growing fintech communities. The market is experiencing rapid digital banking adoption, driven by a young, tech-savvy population.

Romania's large population makes it a significant market within the EU's open banking landscape. The combination of growing digital adoption and strong technical capabilities positions Romania for continued open banking development.

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