Fintech (financial technology) and the European Union: State of play and outlook
The financial technology (fintech) sector encompasses firms that use technology-based systems either to provide financial services and products directly, or to make the financial system more efficient. Fintech is a rapidly growing sector: in the first half of 2018, investment in fintech companies in Europe alone reached US$26 billion. The fintech sector brings rewards including innovation and job creation, but also challenges, such as data and consumer protection issues, and the risk of exacerbating financial volatility or cybercrime. To tackle these multi-disciplinary challenges, policy- and lawmakers in the European Union (EU) have adopted and announced several initiatives, for instance on intra-EU payment services, data protection, crowdfunding and regulatory sandboxes. This briefing outlines current and upcoming fintech-related laws at EU level. It follows on from a March 2017 EPRS briefing that focused, inter alia, on the evolution, scope and economic prospects of fintech.
Briefing
Om detta dokument
Publikationstyp
Författare
Politikområde
Sökord
- automatiserad bankverksamhet
- dokumentation
- EU-institutionerna och EU:s förvaltning
- EUROPEISKA UNIONEN
- FINANSER
- finansiella tjänster
- finansinstitut
- finansrätt
- forskning och immateriell äganderätt
- fri rörlighet för kapital
- HANDEL OCH AFFÄRSVERKSAMHET
- information och informationsbehandling
- informationssäkerhet
- informationsteknik
- informationsteknik och databehandling
- innovation
- kommunikation
- konsumentskydd
- konsumtion
- kredit- och finansinstitut
- penningväsen
- PRODUKTION, TEKNIK OCH FORSKNING
- sammanfattning
- spridning av EU-information
- uppgiftsskydd
- UTBILDNING OCH KOMMUNIKATION
- virtuell valuta