Fintech: Enabling a Greener and More Sustainable EU Economy
As the European Union intensifies its efforts to combat climate change and transition to a sustainable economy, fintech companies are increasingly becoming key players in the green revolution. In fact, Europe is emerging today as a global leader particularly in the climate fintech space, securing US$1.4BN in venture capital investment compared to just US$881MN in […]
Strategic autonomy in financial services – global success or poisoned chalice?
Europe’s Place in Global Technology InnovationOver the past decade, the European Union (EU) has emerged as a leader in the financial services and financial technology sectors. Innovative companies have fundamentally transformed how consumers engage with finance, empowering them to take more control over their financial lives. For example, mobile banking applications have revolutionised personal finance […]
Joint Industry Letter for Effective and Efficient Fraud Prevention in Europe
Brussels, 10 June 2024: As representatives of the digital payments and technology sectors, we would like to express our appreciation for the ongoing work on the EU Payments Package. The EU Commission’ draft proposal for the Payments Services Regulation (PSR) already includes provisions to prevent and mitigate fraud risks, such as verification of payee for […]
EFA view on virtual IBANs
The EFA is pleased to observe the ongoing work of the Council of the EU regarding the review of the Payment Services Directive and the new Payment Services Regulation (PSRD), and the progress made with regards to fraud prevention and mitigation. Recently, we have observed suggestions made regarding virtual IBANs, and would like to bring […]
Joint Industry Statement on AI Definition
In the wake of the December 2023 political agreement on Artificial Intelligence regulations, financial industry representatives stress the need to safeguard ongoing credit scoring operations from potential disruptions caused by pending technical details around the agreed definition of “artificial intelligence systems”.
Credit scoring is a vital element of the financial sector, providing a way to evaluate an individual’s
creditworthiness based on their financial history and behaviour. This evaluation assists lenders in making well-informed decisions about extending credit or loans.
EFA- ETPPA Joint Position paper on the AMLR
This document presents the European Fintech Association (EFA) and European Third-Party Providers Association (ETPPA) comments regarding the inclusion of PISPs on the AMLR scope.
EFA Sustainability Position Paper
The European Fintech Association welcomes recent initiatives of the EU to encourage sustainability in financial services. We believe fintech, especially the cryptoasset sector, can play an important role in driving sustainable innovation. With the right approach, the EU can empower the cryptoasset industry to drive positive change, foster sustainable practices, and contribute significantly to the green transition.
EFA Position on the Proposal for a Regulation on a framework for Financial Data Access
The European Fintech Association (EFA) warmly welcomes the opportunity to share its position on the Proposal for a Regulation on a Framework for Financial Data Access (FIDA). The EFA represents a diverse group of 35+ FinTech providers ranging from payments, to lending, banking, robo-advice, investment as well as software-as-a-service for the finance sector, with a clear focus on enabling a single market for digital financial services. EFA believes that, if done right, FIDA has the potential to be a catalyst for further competition in the financial services market to the benefit of the European consumer.
Position Paper on the Revised Payment Services Directive & Regulation
The European Fintech Association welcomes recent initiatives of the EU to encourage sustainability in financial services. We believe fintech, especially the cryptoasset sector, can play an important role in driving sustainable innovation. With the right approach, the EU can empower the cryptoasset industry to drive positive change, foster sustainable practices, and contribute significantly to the green transition.
EFA Position on the Digital Euro Proposals
The European FinTech Association (EFA) welcomes the Commission’s proposal on the Regulation to establish the digital euro. The EFA supports an open and competitive payment landscape. If correctly designed, the digital euro could generate new competitive value chains with potential benefits to consumers and businesses.