The fact is that banks already use 3rd parties to provide new features and share data with them today. As I understand this post, it forces banks to allow 3rd parties that I can choose. Even if I choose not to use any of these services, the services my bank offer will need to be competitive for those that do. I think this sounds great as it also means that companies that do develop new products aren't going to have to resort to hacks to access client data or risk being locked out by the institution. Great post, I hadn't heard anything about this before, but I don't live in Europe.