We will defend the consumer perspective and the growing value of their data in an increasingly digitized and cross-border financial market
The European Commission has endorsed our candidacy to be part of the new group of experts that will advise DG FISMA (Directorate General for Financial Stability and Capital Market Union) on the legislation of the future space of common European data. Specifically, it will be Virginia Fuentes, responsible for Regulatory Compliance, who will occupy this position on behalf of the association.
This group of external experts will begin to meet at the end of the month and its work will last until December 31, 2022. Appointed by the governments of the EU, their advice will serve as the basis for the formulation of the policies that determine the exchange of data in the EU financial sector. Specifically, it will examine issues related to data confidentiality, privacy, customer consent, and the potential impact on access to financial products and services.
For us it is essential that the point of view and the defense of the consumer will be at the center of these future policies that revolve around the growing importance of data and the ease of exchange in the digital environment. It is also evident that this increasingly present digitization means that competition at the European and non-European level for services and products on the market is increasing.