ABSTRACT
This chapter begins Part II of the book concerning the regulation of open banking across continents. Drawing upon the outcomes of the previous part, the chapter contrasts the open banking approaches pursued by Nordic and European Free Trade Association (EFTA) countries. Accordingly, the analysis shows how the implementation of the EU Payment Services Directive 2 (PSD2) has accelerated the development of open banking in the Nordic region, where countries such as Norway, Finland, Sweden and Denmark are regarded as the most digitalised in Europe. By contrast, in the EFTA area, Switzerland has preferred market-driven approaches for developing open banking. This scenario, however, may change soon.
