The Netherlands has always been ahead of the curve when it comes to payments. It was the first country in the SEPA region to offer real-time payments and has long embraced bank-to-bank payments through iDEAL.

Now, with open banking gaining traction across Europe, the Dutch market is well-positioned to expand its already digital-first ecosystem.

But how mature is the market, and is it ready to truly embrace open banking?

In this article:

• From iDEAL to open banking: A timeline of innovation
• Open banking adoption in the Netherlands: Where do things stand?
• What’s next: Regulation and standardisation driving growth
• Why use Yapily for open banking in the Netherlands?
• How Adyen is streamlining onboarding with Yapily

Curious about implementing open banking in the Netherlands? Talk to a Yapily expert to get started.

From iDEAL to open banking: A timeline of innovation

Here is a timeline of key milestones shaping the Dutch open banking ecosystem:

2005 – Dutch banks launch iDEAL, a domestic A2A payment method designed for online retail. While widely adopted, it faced limitations such as delayed settlement on weekends and holidays.

2015 – Stakeholders commit to a four-year roadmap to develop 24/7 instant payments in the Netherlands.

2017 – The European Payments Council introduces the SEPA Instant Credit Transfer (SCT Inst), standardising real-time euro payments.

2019 (Feb) – PSD2 becomes law in the Netherlands, enabling TPPs to access bank data and initiate payments with consent via APIs. This legislation formalises Account Information Services (AISPs) and Payment Initiation Services (PISPs).

2019 (May) – Instant payments go live. All major Dutch banks support them.

2020 – The Dutch Payments Association joins the Berlin Group and adopts the NextGenPSD2 API framework to support open banking.

2023 – The European Payments Initiative acquires iDEAL. By 2028, it will be replaced by Wero, a pan-European digital wallet.

2024 – The Instant Payments Regulation (IPR) is enacted, requiring banks to support real-time SEPA credit transfers.

2025–2027 – DNB outlines obligations for PSPs to:

• Offer SEPA instant payments at no extra charge
• Provide name verification for payees
• Check user sanctions compliance daily

The Dutch central bank also champions data portability as a key enabler of open finance:

“We believe data mobility… is an important part of where the financial services sector is heading.” – Patrick de Neef, Chief Innovation Officer, DNB

Open banking adoption in the Netherlands: Where do things stand?

The Netherlands is digitally mature, with widespread instant payments and one of the highest bank transfer usage rates in Europe. 95% of consumers use iDEAL, and 72% are comfortable paying directly from their bank account (Mastercard).

Yet despite this, open banking adoption is still growing slowly. Only 31% of Dutch consumers say they would use open banking for free services, and just 3% are willing to pay for such services.

There are several contributing factors:

• Consumers are familiar with iDEAL and see little need to change
• Merchants and PSPs may lack awareness of open banking’s benefits beyond payments
• Use cases for financial data services, such as personal finance management, are still emerging

For businesses, however, interest is growing. SMEs in particular are exploring open banking for use cases like invoice reconciliation, bulk payments, and automating onboarding or compliance workflows. But progress is still hindered by low integration of accounting software—only 36% of Dutch SMEs currently use digital invoicing tools.

What’s next: regulation and standardisation driving growth

The Dutch open banking landscape is evolving fast, thanks to a combination of regulatory clarity and collaborative industry initiatives:

PSD3 and PSR: Proposed in 2023, these measures will replace PSD2. They aim to remove technical obstacles to data access, mandate consumer dashboards for managing data permissions, and ensure consistent TPP access.

FiDA (Financial Data Access Framework):This legislative proposal would extend open banking to non-payment accounts, including savings, pensions, loans, and insurance products. It marks a shift toward full open finance.

The Dutch Payments Association’s openFinance initiative:In collaboration with the Berlin Group, the Dutch Payments Association is working to broaden API standards. By 2026, APIs will cover:

• Investment and securities accounts
• Loans and mortgage data
• FX services

Their 2025 workplan outlines technical steps to implement these recommendations.

Open banking use cases for Dutch PSPs

Dutch businesses are beginning to tap into open banking for practical use cases that go beyond consumer payments:

• Faster merchant onboarding: Reduce drop-off and eliminate manual document uploads. Use account data to verify business ownership and financial health in seconds.

• Invoice reconciliation and cash flow forecasting: Use enriched transaction data to reconcile invoices faster. Real-time balance data can also feed into predictive cash flow tools.

• Pay-by-bank at checkout: Offer lower-fee, instant settlement alternatives to card payments. Particularly attractive in sectors like travel, ticketing, and subscription services.

• Personal finance management tools:Consumer-facing apps can access categorised data to help users:

  • Track spending and income
  • Identify recurring subscriptions
  • Set goals and budgets

• Lending and credit scoring: Lenders can use open banking data for risk analysis and faster decisions—especially valuable for SMEs and thin-file consumers.

Why use Yapily for open banking in the Netherlands?

Yapily offers enterprise-ready open banking infrastructure across Europe. Here’s why hundreds of fintechs, lenders, and platforms choose Yapily to power their payments and data access:

1. Access both payment and data services through one secure API

Yapily is authorised as both a Payment Initiation Service Provider (PISP) and an Account Information Service Provider (AISP). This means:

• One API integration gives you access to real-time bank account data and payment initiation functionality
• Initiate single, bulk, scheduled, and variable recurring payments (VRPs) from both consumer and business accounts
• Access full transaction histories, balance data, account ownership info, and categorised spending (via Data Plus)

Our Data Plus enrichment breaks transactions into 90+ categories—essential for understanding cash flow, identifying subscriptions, and building smarter onboarding, credit scoring, or budgeting tools.

2. High coverage in the Netherlands and across Europe

We connect to nearly 2,000 banks across the EU and UK—including all major Dutch banks like ABN AMRO, Rabobank, and SNS Bank. Business account access is supported in all 19 countries

If you decide to expand beyond the Netherlands, you won’t have to integrate with us again. Your initial API integration will work in all of our coverage areas, making it simple to scale with Yapily.

3. Customise the experience to build trust and drive adoption

Yapily supports two approaches:

• Direct integration: Full UI/UX control. Keep users in your branded journey.
• Hosted pages: Pre-built, white-label UI with branding options. Ideal for rapid go-to-market, while we develop your fully customised integration in the background.

Whichever path you choose, your customer experience remains cohesive and secure, key for earning trust and reducing drop-off during sensitive processes like onboarding or payments.

Case study: How Adyen is using Yapily to streamline onboarding

Dutch fintech leader Adyen recently partnered with Yapily to simplify onboarding and KYB for businesses across the EU and UK.

With Yapily’s white-labelled open banking infrastructure, Adyen can:

• Access and verify business account data in real-time
• Speed up Know Your Business checks without manual uploads
• Launch new credit scoring tools for lenders

By embedding Yapily’s data and payment services, Adyen delivers a faster, more efficient onboarding experience that keeps users in its ecosystem.

Ready to power open banking in the Netherlands?

Open banking adoption is accelerating in the Netherlands—but there’s still untapped opportunity. With Yapily, you can simplify complex processes, reduce payment friction, and gain a competitive edge.

Speak to an open banking expert at Yapily to find out how we can support your expansion into the Dutch market.