Publications on Financial Innovation

This section provides a comprehensive list of the EBA and joint ESA publications related to Financial Innovation ranging from Technical Standards to Guidelines, Recommendations and Opinions as well as Reports.

2018

EBA assesses risks and opportunities from Fintech and its impact on incumbents business models
The European Banking Authority (EBA) published today the first products of its FinTech Roadmap, namely (i) a thematic report on the impact of FinTech on incumbent credit institutions' business models and (ii) a thematic report on the prudential risks and opportunities arising for institutions from FinTech. Both reports fall under the wider context of the newly established EBA FinTech Knowledge Hub and aim to raise awareness within the supervisory community and the industry on potential prudential risks and opportunities from current and potential FinTech applications and understand the main trends that could impact incumbents' business models and pose potential challenges to their sustainability.
03/07/2018 - Press releases

EBA publishes Opinion on the implementation of the RTS on strong customer authentication and common and secure communication
The European Banking Authority (EBA) published today an Opinion on the implementation of the regulatory technical standards (RTS) on strong customer authentication (SCA) and common and secure communication (CSC), which will apply from 14 September 2019. In the Opinion, the EBA clarifies a number of issues identified by market participants and Competent Authorities (CAs) to assist in this implementation.
13/06/2018 - Press releases

EBA provides clarity to market participants for the implementation of the technical standards on strong customer authentication and common and secure communication under the PSD2
The European Banking Authority (EBA) published today two regulatory products, an Opinion and a Consultation Paper on draft Guidelines, to clarify a number of issues identified by market participants in relation to the regulatory technical standards (RTS) on strong customer authentication and common and secure communication (SCA and CSC), which will apply from 14 September 2019.
13/06/2018 - Press releases

EU financial regulators warn against risks for EU financial markets, Brexit, asset repricing and cyber-attacks key risks
The securities, banking and insurance sectors in the European Union (EU) face multiple risks, the latest report on risks and vulnerabilities by the Joint Committee of the European Supervisory Authorities (ESAs) shows. The ESA report for the second half of 2017 outlines the following risks as potential sources of instability:
12/04/2018 - Press releases

EBA Roadmap on FinTech
Taking account of the feedback to the EBA's 2017 Discussion Paper on FinTech, and the new mandates for the EBA set out in the European Commission's FinTech Action Plan, the EBA's FinTech Roadmap describes its priorities for 2018/2019 and provides an indicative timeline for the completion of these tasks.
15/03/2018 - Press releases

ESAs weigh benefits and risks of Big Data
The Joint Committee of the European Supervisory Authorities (ESAs) published today its final report on Big Data analysing its impact on consumers and financial firms. Overall, the ESAs have found that while the development of Big Data poses some potential risks to financial services consumers, the benefits of this innovation currently outweigh these. Many of the risks identified by the ESAs are mitigated by existing legislation.
15/03/2018 - Press releases

Joint ESAs Warning on Virtual Currencies
The European Supervisory Authorities (ESAs) for securities (ESMA), banking (EBA), and insurance and pensions (EIOPA) have today issued a pan-EU warning to consumers regarding the risks of buying
12/02/2018 - Press releases

Joint ESAs Opinion on the use of innovative solutions in the customer due diligence processes
The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today an Opinion on the use of innovative solutions by credit and financial institutions  when complying with their customer due diligence (CDD) obligations. This Opinion is part of the ESAs' wider work on creating a common understanding on the responsible and effective use of innovation by credit and financial institutions, which can enhance their Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) controls.
23/01/2018 - Press releases

2017

Report on Innovative uses of data 2017
The European Banking Authority (EBA) published today a Report presenting the conclusions of its assessment on the topic of innovative uses of consumer data by financial institutions. The Report.
28/06/2017 - Press releases

2016

EBA Opinion on the Commission's proposal to bring virtual currency entities
In an Opinion issued today, the EBA welcomed the Commission's proposal to bring virtual currency exchange platforms and custodian wallet providers within the scope of the 4th Anti-Money Laundering.
11/08/2016 - Press releases

Discussion Paper on innovative uses of consumer data by financial institutions
The European Banking Authority (EBA) published today a Discussion Paper on innovative uses of consumer data by financial institutions, in line with its mandate to monitor financial innovation. The paper identifies risks and benefits for consumers and financial institutions, as well as for financial integrity.
04/05/2016 - Press releases

2015

Discussion Paper on automation in financial advice
The Joint Committee of the three European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA – has launched a Discussion Paper on automation in financial advice, aimed at assessing what, if any, action is required to harness the potential benefits of this innovation and mitigate its risks.
04/12/2015 - Press releases

Opinion on lending based crowdfunding
In an opinion issued today, the European Banking Authority (EBA) recommended that EU legislators clarify the applicability of existing EU law to lending-based crowdfunding.
26/02/2015 - Press releases

2014

EBA Opinion on Virtual Currencies
The European Banking Authority (EBA) published today an Opinion addressed to the EU Council, European Commission and European Parliament setting out the requirements that would be needed to regulate ‘virtual currencies'.
04/07/2014 - Press releases

2013

Guidelines on internet payments security
The Guidelines on the security of internet payments are based on the recommendations of the European Forum on the Security of Retail Payments (SecuRe Pay), a voluntary cooperative initiative set up by the ECB and comprising relevant authorities from the European Economic Area (EEA) with the aim of facilitating understanding of issues related to the security of electronic retail payment services.
19/12/2013 - Press releases


Warning of the European Banking Authority - Warning to consumers on virtual currencies
The European Banking Authority (EBA) issued today a warning on a series of risks deriving from buying, holding or trading virtual currencies such as Bitcoins.
12/12/2013 - Press releases