Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 03 NOVEMBER 2017

DLT, AI, Cloud And Big Data Highlighted In EU Commission Report On Fintech Consultation

Baker McKenzie
Explore more from Baker McKenzie

The vast majority of respondents were positive about FinTech. Opportunities highlighted included access to finance, operational efficiency, cost-saving and competition.

European UnionTechnology
Sue McLean
Sue McLean

The European Commission recently published the summary of contributions to its Public Consultation on FinTech. The consultation which was conducted March to June 2017 sought stakeholders' input in order to further develop the Commission's approach towards FinTech and was structured along four broad policy objectives:

  • fostering access to financial services for consumers and businesses;
  • reducing operational costs and increasing efficiency;
  • increase competition by lowering barriers to entry; and
  • balancing greater data sharing and transparency with data security.

Key messages

The vast majority of respondents were positive about FinTech. Opportunities highlighted included access to finance, operational efficiency, cost-saving and competition. In terms of technologies, respondents particularly identified distributed ledger technology, big data analytics, AI and cloud computing.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

The UK Cyber Security And Resilience Bill: What You Need To Know

The UK Government has introduced the Cyber Security and Resilience Bill to address critical gaps in existing cyber security regulations, expanding coverage to data centres, managed service providers, and critical suppliers while granting regulators enhanced enforcement powers. With tightened incident reporting deadlines, turnover-based penalties up to £17 million, and mandatory supply chain resilience measures, organisations across essential services sectors must assess their readiness for compliance
United KingdomTechnology
Browne Jacobson LLP
Browne Jacobson LLP
Article

EDPB统一DPIA模板落地：欧盟数据合规正从“程序评估”走向“设计问责”

The European Data Protection Board has released a unified DPIA template for public consultation, marking a significant shift from fragmented national practices to coordinatead EU-wide compliance. This standardization effort aims to transform data protection impact assessments from procedural documents into substantive design accountability tools, requiring organizations to demonstrate not just that they conducted assessments, but that their processing activities can withstand rigorous evaluation.
European UnionTechnology
Jincheng Tongda & Neal
Jincheng Tongda & Neal