Open Banking in Slovenia

Open banking in Slovenia

In September 2019, PSD2 went live in the EEA.Fintech has been one of the fastest growing industries in Sloveniaand their banks already offer open banking.

What is Open Banking and PSD2?

Open banking is banking practice that securely shares financial information such as consumer banking, transactions and other financial data to third-party financial service providers (Estevez, 2020). Sharing data is done through the use of application programming interfaces (APIs) and only with the consent of customers (The Balance, 2020). Open banking is the drive behind both innovation and competition in the financial industry (Cahill, n.d.). 

PSD2 is a European Directive that regulates electronic payment services, was implemented in all EEA countries in 2016 and went live in September 2019. 

Open Banking in Slovenia

In Slovenia, fintech has been one of the fastest growing industries. There have been many fintech improvements and optimization of processes such as mobile payments, e-banking and mobile banking, electronic tax system and e-signatures (Iuricorn, 2019). In the past few years, the number of innovative businesses that have redefined and improved financial services has increased (Iuricorn, 2019). Furthermore, 75% of Slovenian firms have implemented at least one digital technology (DESI, 2020, 11). 

Slovenia has implemented strategies such as Digitalna Slovenija 2020 and Innovation Strategy of Slovenia resulting in actions such as Strategic Research, the Digital Innovation Hubs and Fablabs (DESI, 2020, 11). However, due to the lack of capacity and resources, the uptake of these strategies in companies continues to be an issue (DESI, 2020, 11). Furthermore, Slovenia has taken a relaxed approach to regulating financial technologies, which leaves the sector not only to self regulate but also with a lack of government support (Senica, 2020).

In 2019, of all Slovenian citizens using the internet, 57% used the internet for online banking, which is 9% below the EU average (DESI, 2020, 9). Additionally, on integration of digital technologies, Slovenia ranks 15th among EU countries (DESI, 2020, 10). Furthermore, Slovenia ranks 17th in the EU for digital public services (DESI, 2020, 12).

Slovenia has a total of 16 banks, the largest of which include Nova Ljubljanska BankandBKS Bank AG(Košak, 2020).

How Does Open Banking Work?

Open banking uses an API that allows financial institutions to exchange financial data, usually through a third party-developed application (Estevez, 2020). These applications are developed by up and coming FinTech companies with the mission to improve digital banking.

To access and use the open banking APIs in Slovenia, you will need to acquire an account information service provider license, issued by the relevant authority. Furthermore, you will require a relevant certificate (QTSPs or eIDAS), compliant with PSD2 requirements. Alternatively, you can use an open banking platform, such as Nordigen


The Balance. (2020, October 11). What Open Banking Is and How It Will Affect You.

Cahill, H. (n.d.).InvoiceFair. The Evolution of Open Banking: Connectivity breeds digital competition.

DESI. (2020). Slovenia.Digital Economy and Society Index (DESI) 2020, 1-13.

Estevez, E. (2020, August 27).Open Banking. Investopedia.

Iuricorn. (2019, October 24).Global Legal Insight in the Financial Technology Sector. Iuricorn.

Košak, M. (2020, December).Slovenia’s banking sector: Facts & Figures. EBF.

Senica, M. (2020, April 6).Slovenia's fintech ambitions risk falling short for lack of regulation. IFLR.




Here is a list of major banks providing Open Banking in Slovenia


Here is a list of major open banking platforms in Slovenia


Nordigen is an authorised Account Information Service Provider. We provide free access to bank data and premium data insights, using regulated PSD2 connections.