|Author (Corporate)||European Commission: DG Financial Stability Financial Services and Capital Markets Union|
|Series Details||COM (2020 591|
Communication published by the European Commission on 24 September 2020, setting out a strategic objective for digital finance in the European Union (EU).
The aim of this strategy is to make Europe's financial services more digital-friendly and to stimulate responsible innovation and competition among financial service providers in the European Union. It aims to reduce fragmentation in the Digital Single Market (DSM), so that consumers can have access to financial products across borders and that FinTech start-ups scale up and grow. It aims to ensure that EU financial services rules are fit for the digital age, for applications such as artificial intelligence and blockchain. Data management is also at the heart of this strategy.
This Communication was published as part of a so-called Digital Finance package, which also includes the following legislative proposals:
The package builds on work already carried out in the framework of the 2018 FinTech Action Plan.
|Subject Categories||Business and Industry, Internal Markets|
|Subject Tags||Digital Single Market [DSM], Financial Services|
|Keywords||Digital Technology, Free Movement of Capital
|International Organisations||European Union [EU]|