EBA provides draft response to EC consultation on Fintech

The EBA has produced a draft response to the EC’s consultation on ‘Fintech: a more competitive and innovative European Financial Sector.’

The response sets out the EBA’s views on questions in the consultation paper that fall within the scope of the work of the EBA.

The EBA provided responses on the following topics:

  • Big data
  • Crowdfunding
  • AML and counter-terrorist financing framework
  • Cloud computing
  • Outsourcing

The EBA is in the process of carrying out its own assessment of Fintech activities and innovations, on which it intends to publish its own discussion paper.