ALFI responds to EU Commission consultation on digital finance strategy for Europe
25 June 2020 | Statements and Position Papers
On 24 June 2020, ALFI responded to the EU Commission consultation on a digital finance strategy for Europe. It aims to gather stakeholders’ views on policies to support digital finance.
The Commission consultation on a new digital finance strategy for Europe/FinTech action plan aims to gather stakeholders’ views on policies to support digital finance.
It follows two public consultations launched in December 2019, focusing specifically on crypto-assets and digital operational resilience.
ALFI responded to the consultation on 24 June 2020.
The financial ecosystem is continuously evolving, with technologies moving from experimentation to pilot testing and deployment stage (e.g. blockchain, artificial intelligence, internet of things) and new market players entering the financial sector either directly or through partnering with the incumbent financial institutions. In this fast-moving environment, the Commission should ensure that European consumers and the financial industry can reap the potential of the digital transformation while mitigating the new risks digital finance may bring.