EBA Survey on Use of Digital Platforms in Banking and Payments Sector
EBA launched an industry survey on the use of digital platforms in the banking and payments sector, as part of the its thematic work in relation to fintech. The aim of the survey is to better understand the market developments and the opportunities and challenges arising from the scaling up of cross-border platforms. EBA is performing this analysis on the use of digital platforms, in line with its work program on financial innovation, and is inviting financial institutions to share their views and experience by December 07, 2020.
The online survey is to be completed by financial institutions using, or expecting to use within the next five years, a digital platform to market their products and services to, or conclude contracts for products and services with, customers in the European Economic Area. The survey is relevant for credit institutions, payment institutions, electronic money institutions, and firms carrying out the activity of credit provision (lending activity) pursuant to national law of a European Economic Area State. The responses will provide a valuable input into further EBA work on digital platforms and potentially support the ongoing policy development in this area. The survey is divided into the following sections with all sections to be completed by each respondent, unless the respondent has indicated that they expect to use (but do not currently use) a digital platform within the next five years, in which case only Sections A and F need to be completed:
- Section A relates to the respondent and use of digital platforms (general information).
- Sections B to E relate to the digital platform currently in use, including the purpose for which the respondent uses the digital platform, other entities using the same platform to market and/or conclude contracts for products and services, features and operation of the digital platform, and customer interface and the use of data.
- Section F relates to the opportunities and challenges arising in relation to the use of digital platforms.
Related Links
Keywords: Europe, EU, Banking, PMI, Fintech, Survey, Digital Platforms, EBA
Previous Article
EBA Supports Harmonization of Creditworthiness Assessment ProcessRelated Articles
EBA Examines Supervisory Practices, Issues Deposits Reporting Template
The European Banking Authority (EBA) published its annual report on convergence of supervisory practices for 2021. Additionally, following a request from the European Commission (EC),
EC Mandates ESAs to Propose Amendments to SFDR Technical Standards
The European Commission (EC) has issued two letters mandating the European Supervisory Authorities (ESAs) to jointly propose amendments to the regulatory technical standards under Sustainable Finance Disclosure Regulation or SFDR.
EC Consults on PSD2 and Open Finance; EU Reaches Agreement on DORA
The European Commission (EC) published a public consultation on the review of revised payment services directive (PSD2) and open finance.
US Agency Publications Address Basel, Reporting, and CECL Developments
The Farm Credit Administration published, in the Federal Register, the final rule on implementation of the Current Expected Credit Losses (CECL) methodology for allowances
SEC Extends Comment Period on Climate Risk Disclosures
The U.S. Securities and Exchange Commission (SEC) looks set to intensify focus on crypto-assets and cyber risk and extended the comment period on the proposed rules to enhance and standardize climate-related disclosures for investors.
APRA Reduces Committed Liquidity Facility, Issues Other Updates
The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility and issued an update on the operational preparedness for zero and negative market interest rates.
EIOPA Responds to Stakeholder Views on Blockchain in Insurance
The European Insurance and Occupational Pensions Authority (EIOPA) published a feedback statement on the responses received to the consultation on blockchain and smart contracts in insurance.
HKMA Announces Decisions on CCyB and Loan Guarantee Scheme
The Hong Kong Monetary Authority (HKMA) announced that the applicable jurisdictional countercyclical capital buffer (CCyB) ratio for Hong Kong remains unchanged at 1.0%
CMF Consults on Basel Rules, Presents Roadmap to Address Climate Risks
The Commission for the Financial Market (CMF) in Chile published capital adequacy ratios (as of February 2022, January 2022, and December 2021) for 17 banks and for the banking system.
PRA Issues Statement on NPEs and Policy on Trading Activity Wind-Down
The Prudential Regulation Authority (PRA) issued a statement on the European Banking Authority (EBA) guidelines on management of non-performing exposures (NPEs) and forborne exposures.
