Regulation opened the door, but didn't build the market for Open Banking: Gijs Boudewijn, EPC Chair

In this conversation with Gijs Boudewijn, chairman of the European Payments Council, we explored what PSD2 achieved, where it fell short, and why open banking has been slower to turn regulation into real market momentum. The discussion also covers SPAA, the move from directive to regulation with PSR, the challenges around FiDA, and how AI may reshape consent, fraud, and agentic commerce. Gijs brings a long view from payments regulation and scheme design, and he explains why compliance alone never creates a market. Rik Coeckelbergs drives the conversation through the practical questions banks, regulators, and third-party providers are still trying to solve. If you prefer to read instead of watching or listening, you can find the full transcript on our website here: https://thebankingscene.com/opinions/... Episode highlights include: 00:00 - Introduction to Gijs and his open banking and payments background 01:04 - Is PSD2 a success after ten years? 05:38 - The missing consumer problem and slow behaviour change 07:52 - Regulation can open a market, but not create one 09:09 - Why fragmentation hurt PSD2 implementation 12:23 - Will PSR fix what PSD2 could not? 14:30 - Why one pan-European customer journey is not the goal 16:01 - How SPAA was created to build on top of PSD2 20:34 - Why banks delayed SPAA investment until PSR 23:53 - The lesson: regulation needs commercial arrangements on top 24:19 - Do we really need FiDA, and in what form? 25:21 - Why payments is the easy case for open finance