How open finance will transform savings and wealth management.

For years, the conversation around open finance has focused on payments. That makes sense — payments were the first area where regulation (PSD2) opened up consumer data, creating new services and players. But the next chapter will be much bigger: savings and wealth.

With the upcoming Financial Data Access (FIDA) regulation, financial institutions across Europe will soon be required to open up savings and investment data. For many, this still feels like a future challenge. For us at Insurely, it’s already reality.

Our solutions today provide secure, real-time access to savings and investment data. We’ve seen first-hand how this transparency empowers consumers to make better decisions, and how it helps banks, insurers, and wealth managers offer faster onboarding, smoother transfers, and more personalised advice.

FIDA will make this the norm across Europe but you don’t have to wait. The technology and partnerships already exist, and those who act early are the ones who will be ready to meet changing expectations and capture market share.

A market full of potential, but stuck in silos. 

European households hold trillions of euros in long-term savings products like life insurance, pension plans, and investment accounts. France, for example, is one of the largest savings markets in Europe, with products such as Assurance Vie, PER, and PEA dominating household portfolios.

Yet despite the size of these markets, consumers often struggle with:

• Limited visibility: fragmented accounts across providers.
  
  

• Complexity: confusing transfer processes and paperwork.
  
  

• Lack of transparency: unclear fees and product performance.
  
  

For institutions, this creates inefficiencies and lost opportunities. Without access to a customer’s full financial picture, it is difficult to provide the kind of personalised advice and seamless service that today’s consumers expect.

What open finance changes. 

By enabling secure, real-time access to savings and investment data, open finance can remove many of these barriers.

For consumers, this means:

• A single overview of their financial life.
  
  

• The ability to move and manage savings more easily and securely.
  
  

• Greater clarity and control over products and costs.
  
  

For financial institutions, it opens the door to:

• Streamlined onboarding and transfers, reducing friction and abandonment.
  
  

• Smarter advice and product recommendations, powered by better data.
  
  

• Deeper trust and loyalty, built on transparency and simplicity.
  
  

Why this matters now. 

The timing could not be more critical. Digital adoption in savings and wealth has lagged behind payments, but customer expectations are catching up fast. People want the same level of simplicity in managing their savings as they already experience in payments, mobility, and retail.

For financial players, this is a strategic moment:

• Regulation is coming — FIDA will soon make data sharing mandatory.
  
  

• Early adopters will benefit — those who move first will set the standard and win market share.
  
  

• France and other key markets are ready — the potential is huge, but the window of opportunity will not stay open forever.

From compliance to competitive advantage. 

It’s tempting to see FIDA as a compliance exercise. But the real opportunity lies in using open finance to create better services, stronger relationships, and long-term growth.

At Insurely, we’re already partnering with banks, insurers, and wealth managers across Europe, to make open finance in savings and wealth a reality. 

The future of savings is open. The question is: who will lead it?

Curious to know more? Please reach out, we’re always happy to talk.