Open Banking in Poland — What It Means for Your Finances
What is open banking in Poland? How PSD2 changes your access to financial services and what it means for your wallet in 2026.
9 min czytaniaWhat Is Open Banking?
Open banking is the concept that banks should share your financial data — with your explicit consent — with licensed third-party apps and services through secure APIs. In practice, this means a finance app can automatically pull your transactions from your bank account without you manually exporting files.
This isn't a future concept. It's regulated by the EU's PSD2 directive, in force since 2018.
PSD2 — The Foundation of Open Banking in Europe
The PSD2 (Payment Services Directive 2) requires banks across the European Union to provide APIs that licensed Third Party Providers (TPPs) can use to:
- Read account information (AIS — Account Information Service) — the app sees your balances and transaction history.
- Initiate payments (PIS — Payment Initiation Service) — the app can request a transfer from your account (with your authorization).
In Poland, these services are supervised by the KNF (Komisja Nadzoru Finansowego — the Polish Financial Supervision Authority). Every provider must be registered with the KNF before accessing bank APIs.
How Does Open Banking Work in Poland in 2026?
Poland's open banking journey has been bumpy. Initially, banks were reluctant to open their APIs — interfaces were unstable, documentation incomplete, and users skeptical. By 2026, the situation has improved significantly, though it's still not perfect.
What works well
- Major banks (mBank, ING, PKO BP, Santander, Pekao) offer functioning APIs compliant with the Polish API Standard.
- Data aggregators like Kontomatik, Nordigen (GoCardless), and Salt Edge enable connections to multiple banks simultaneously.
- Apps like Wallet and Spendee use PSD2 for automatic transaction imports.
- Strong Customer Authentication (SCA) ensures security — every connection requires confirmation in your banking app.
What still needs work
- Not all banks support full API functionality (some offer read-only access, no payment initiation).
- Consent renewal every 90 days is tedious — you must re-authorize access quarterly.
- Business accounts have limited support compared to personal accounts.
- Speed of implementation for new features by banks remains slow.
What Does Open Banking Mean for You?
1. Automatic Expense Tracking
Instead of monthly CSV exports from your bank, your finance app can pull transactions automatically. You save time and eliminate the risk of forgetting to update your records.
2. Personalized Financial Product Comparisons
Fintech companies can analyze your transaction data (with your consent) and suggest better products — a cheaper account, a better loan, a more favorable deposit. It's like a comparison engine, but personalized to your actual spending.
3. Faster Payments
Through PIS, you can initiate transfers directly from a third-party app, bypassing the bank's interface. BLIK already does this to some extent, but open banking extends this capability to any licensed app.
4. Better Multi-Bank Management
If you hold accounts at several banks, open banking lets you see all balances and transactions in one place. No more logging into each bank separately.
Is It Safe?
This is the most common question, and the answer is: yes, as long as you use licensed providers.
Key safeguards:
- You give consent — no one accesses your data without your explicit authorization.
- SCA (Strong Customer Authentication) — every access requires two-factor verification.
- Provider must be licensed — check the KNF registry or the equivalent EU authority.
- Data is encrypted — TLS encryption protects data in transit.
- You never share your banking password — you authorize access within your banking app; the external app never sees your login credentials.
Open Banking and Polish Finance Apps
Not all finance apps use open banking. Many Polish solutions (including Freenance) import transactions via CSV/MT940 files — simpler, but requiring manual work. Others like Wallet or Spendee use PSD2 for automatic data pulls.
Both approaches have their merits:
| File Import | Open Banking (PSD2) | |
|---|---|---|
| Convenience | Manual export needed | Automatic |
| Bank support | All (export is standard) | Limited to banks with APIs |
| Security | File stays on your device | Encrypted API with SCA |
| Renewal | Not applicable | Every 90 days |
| Data freshness | Depends on you | Near real-time |
The choice depends on your priorities — automation convenience vs full control over when and what data you share.
What's Next? PSD3 and Open Finance
The European Union is working on PSD3 and the FIDA (Financial Data Access) regulation, which will expand open banking into open finance. This means data sharing will extend beyond bank accounts to include:
- Insurance policies
- Pension funds (including Poland's PPK)
- Investment products
- Mortgages
For users, this means an even more complete financial picture in one place — and better tools for managing your entire financial portfolio.
FAQ
Do I have to use open banking?
No — it's entirely voluntary. If you prefer importing transactions manually via CSV/MT940 files, you can continue doing that. Open banking is an option for those who value automation.
Can my bank see which apps I use?
Your bank can see that a licensed provider accessed your data (with your consent), but it doesn't see what you do within the third-party app.
What happens if a company using my data goes bankrupt?
Your banking data remains safe — the company only had access through your bank's API and doesn't store your login credentials. Once consent expires (maximum 90 days), access is automatically revoked.
How do I check if a provider is licensed?
Check the KNF registry (knf.gov.pl) or the European Banking Authority (EBA) register. Every legal AIS/PIS provider must be registered with the appropriate supervisory authority.
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