EU's new digital finance strategy: how will it impact the financial services market?
2 July 2020
Recently, the European Commission published its consultation on a new Digital Finance Strategy for Europe/FinTech Action Plan. The consultation builds on the outcome of work carried out in accordance with the March 2018 FinTech Action Plan, including the actions undertaken by the European Banking Authority (EBA) pursuant to its FinTech Roadmap.
The Commission’s strategy on shaping Europe’s digital future seeks to achieve three key objectives: technology working for people, fair and competitive economy and an open, democratic and sustainable society.
This article provides further insight on European Commission’s five-year digital strategy together with EBA’s support and additional actions identified.