Open Banking in the Netherlands: Adoption, Connectivity & Market Outlook

Discover how digital trust, the popularity of iDEAL, and innovative payment solutions are shaping a promising future for open banking in the Netherlands. Learn about Yapily's role in connecting businesses with extensive API coverage.

Cash payments are declining fast, and the Netherlands is no exception. Dutch businesses and consumers are favouring digital payments, and showcasing trust in these payments. In 2020, the Netherlands scored first place in the Digital Intelligence Index which evaluated digital trust across 42 economies around the world. Only 17% of Dutch consumers had big concerns when it comes to sharing financial data, suggesting they trust financial services and digital payments, a good sign for open banking adoption.

Let’s look at the open banking evolution across the Netherlands, and what we can expect to come in the near future.

Open banking adoption in the Netherlands

As of early 2019, the Netherlands welcomed the PSD2 legislation. The Netherlands is part of The Berlin Group, so follows these regulatory standards of open banking Since the Dutch Payments Association introduced the Instant Payments initiative to the country, it has become a default method for payment transfers.

Long before PSD2 came into effect, Dutch consumers and businesses were already accustomed to iDEAL, the Netherlands native e-commerce payment system formed in 2005. This ensures customers can make direct account-to-account payments, all in real-time. A popular choice amongst Dutch consumers with almost 70% preferring to use online payments. In October 2023, iDEAL was acquired by European Payments Initiative (EPI) to become an A2A instant payment scheme with more value-added services to be introduced over time.

Back in 2022, the Dutch Central Bank reported a focus on data mobility and consumer protection as it pivoted to embracing Open Finance. Patrick de Neef, chief innovation officer at De Nederlandsche Bank (DNB) announced, “We believe data mobility… is an important part of where the financial services sector is heading. It is important that we facilitate that, or at least not hinder it. Every individual still needs to have control of his or her data and data should be available cross-sector.

However, the Netherlands is not immune to challenges of open banking adoption, the standout hurdle being API standardisation, a common problem across Europe. Other issues include:

  • unclear definitions
  • improving the UX and SCA processes
  • needing support for credit cards
  • needing support dynamic recurring payments
  • Improving the API quality

On April 18th 2023, the Dutch Payments Associated hosted an open banking event entitled “SPAA: open access beyond PSD2”, with Hessel Kuik, chairman of PSD2SIG, stating that although open banking hadn’t fully caught on, adoption was moving in the right direction.

Yapily’s Netherlands Open Banking Coverage

Our open banking platform went live in the Netherlands in November 2021, and we now support 14 banks and financial institutions across the country.

Explore the list of available institutions via Yapily’s open banking platform.

Future adoption of open banking in the Netherlands

Much like other parts of Europe, education is essential to the growth of open banking as we seek more ways to communicate to consumers, regulators, banks and businesses.

Mastercard reported that 20% of Dutch businesses were likely to use open banking, versus 31% of consumers. However, with there being such an open attitude to new tools and a lack of adversity towards digital payments, this figure may rise if the necessary steps are taken by Dutch regulators. Perks of open banking that attracts Dutch businesses include invoice reconciliation and payments so there is clear interest to improve financial operations.

However, the projected growth of open banking adoption in the Netherlands, while promising, highlights the necessity for continued education and communication among all stakeholders. The Dutch Payments Association and initiatives like the National Implementation Support Platform (NISP-NL) play a crucial role in this endeavour, striving for standardisation and clarity in the open banking landscape.

As addressed by Patrick de Neef, the younger generation are more willing to embrace digital innovation and a more trusting attitude, likely to impact the future of open banking adoption. As we look towards the future, it’s clear that the Netherlands’ journey in open banking is not just about adapting to new regulations or technologies but about harnessing the full potential of digital transformation in finance. With a strong foundation of digital trust and innovation, the Netherlands is poised to lead the way in open banking adoption, driving forward a more connected, efficient, and inclusive financial ecosystem.

Our powerful API connecting across the Netherlands

Join us in navigating the evolving open banking landscape in the Netherlands. Our extensive API connectivity and expertise are at your disposal to explore new opportunities and drive your business forward in this dynamic market.

Speak to our open banking experts to explore our platform and discover how we can help your business connect to the Netherlands.


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