What is a National Competent Authority?

NCAs, or National Competent Authorities, are regulatory or governmental bodies responsible for the supervision, registering and authorisation of financial service providers. They also publish registers for use by:

  1. Qualified trust service providers, to make decisions on issuing certificates
  2. Financial institutions, to check whether other parties are authorised.

Open Banking and PSD2 regulations require that participants in the open banking ecosystems, such as banks and Third-Party Providers be registered with an NCA. In particular, third-party providers must obtain a license from their country’s NCA before being allowed to access banks’ customer data.

Was this article helpful?

Friendly Score UK Ltd.

52 Brook Street 1st Floor, Mayfair

London W1K 5DS

Call us on +44 20 3709 6726

Company registered in England

Company number 09168668, ICO ZA111687

VAT registration number 206 9758 80

Authorised and Regulated by the Financial Conduct Authority. (FRN: 781963)