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European Fintechs Launch New Business Affiliation

The European FinTech Affiliation will search to take away cross-border obstacles in monetary providers, together with to streamline fragmented AML guidelines and handle IBAN discrimination.

Twenty European fintech corporations have banded collectively to launch EFA (European FinTech Affiliation), a brand new not-for-profit trade physique to symbolize the pursuits of the sector.

Primarily based in Brussels, EFA brings collectively the beforehand established EFAlliance and FinTechs4Europe to present “one voice” to European fintech gamers.

EFA says its mission encompasses three pillars:-

  • to advertise, talk and develop cooperation and dialogue between fintech firms inside the EU
  • to talk with one voice for the European fintech sector and spotlight important fintech developments and pragmatic options
  • to advocate and symbolize the pursuits of members in policymaking efforts by regulatory our bodies

“FinTech companies deliver much-needed innovative, transparent and understandable financial services products but have until now not sufficiently been heard at the European political level,” mentioned EFA President Marc Roberts.

“EFA will be able to support the voice of FinTechs in Europe by encouraging proportionate and smart regulation that will support European financial innovation while taking consumer protection into account.”

Consistent with the European Fee’s agenda, EFA’s key coverage targets are to take away cross-border obstacles for monetary providers, streamline fragmented AML guidelines, handle IBAN discrimination, and ship open banking and open finance initiatives.

“Making Europe fit for the digital age is a key element of the recovery strategy. Now is the moment for FinTechs to coordinate their voices across Europe,” mentioned Jan Ceyssens, Head of Unit, Digital Finance, DG FISMA on the European Fee.

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EFA is inviting new members to hitch through its web site.



Jung Min-seo

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