The Association has the general purpose to support all types of initiatives or projects that aim to develop, promote, encourage open finance in Europe, and in particular: (i) Strengthen the use of API (Application Programming Interfaces) technology, Data-enabled Payments and SEPA-instant payments in Europe to achieve better financial outcomes for consumers; (ii) Promote the establishment and implementation of a valuable commercial model to ensure a sustainable open finance in Europe; (iii) Promote the establishment and development of an independent open finance standards body in Europe; (iv) Stimulate and foster collaboration within and across associations, banks, and financial institutions in Europe with respect to open finance.