Empowering European consumers: The role of Fintech in enhancing financial literacy
In recent years, the digitisation of the financial services industry has provided European consumers with access to sustainable credit, new payment options and effective financial tools. For the sector, this much-needed innovation is helping to reduce costs, speed up access to capital, improve transparency and promote financial inclusion. With over 40 leading European FinTech companies […]
From piggy banks to portfolios: how European fintechs are helping consumers bridge the gap between saving and investing
In the evolving landscape of personal finance, European fintechs are at the forefront of transforming how individuals grow their savings. By leveraging innovative technologies and user-centric platforms, these companies are simplifying saving, and at the same time, making investing accessible and cost-effective, enabling even novice investors with limited funds to participate in the financial markets. […]
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 […]
The case for European Champions: a win-win goal for Europe and market
Role and importance of Fintech industry in building up European competitiveness. The concept of EU strategic autonomy has been a priority for the EU over the last few years. Geopolitical instability, climate and environmental challenges, as well as social changes have increased the focus on this concept. In short, strategic autonomy refers to the idea […]
The Power of FinTech: Boosting Innovation and Growth in the EU Economy
As the European Union navigates an era of rapid technological advancement and economic transformation, the role of FinTech companies in this journey is growing from strength to strength. Today’s FinTech innovators have not only revolutionised the financial services landscape, but have also contributed significantly to the EU economy through innovation, investment, facilitating fair competition, and […]
The European FinTech Association Introduces Its New Board for 2024
Brussels, Belgium – July 10, 2024 – The European FinTech Association (EFA) today announced the appointment of its new Board following its 2024 Annual General Assembly. The newly-appointed Board of Directors comprises experts from leading fintech innovators across Europe who will represent the association in exchanges with European stakeholders and policymakers. Established in 2019, the […]
Joint Statement on the treatment of Merchant Initiated Transactions under the Payment Services Regulation
Under its new proposal for a Payment Services Regulation (PSR), from 28 June 2023, the European Commission reinforced the refund rights for merchant-initiated transactions (MITs). It does so by extending the unconditional refund right under Article 62(1) that exists for direct debits (DDs) to all MIT transactions. In essence, this means that payers would be […]
Joint statement of ETPPA, EMA, EPIF, EFA, and OFA on: AMLR technical trilogues – RECITAL 34 discriminating against European fintechs
Brussels, January 31, 2024: Following up on the joint EU fintech industry statement issued on May 17, 2023 (see here), ETPPA, together with EMA, EPIF, EFA and OFA, are calling on the co-legislators and the European Commission to clarify the compromise text reached on recital 34 of the AML Regulation in the technical trilogues; this […]
Joint industry letter on foreign exchange rate transparency in cross-borderpayments and the use of an aggregated live mid-market benchmark rate
As representatives of the financial services and payments sector, we would like to express our appreciation for the ongoing work on the Payment Services package (PSD3/PSR), which has the potential to greatly improve the functioning of the payments market within the EU and beyond.