In light of the EC’s public consultation on FinTech launched on 23 March 2017 and wider discussions on the opportunities in retail financial services, this paper highlights obstacles and solutions in three key areas: new and better services for consumers, open banking, and the supervisory and regulatory environment. It stresses the need for transparency, consistency and agreed standards in the use of data, as well as for level-playing fields in the regulatory environment across the EU.

Read / download the full paper ERFF FinTech in retail financial services Consensus Paper April 2017.