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
Related Articles
ESAs Publish Reporting Templates for Financial Conglomerates
ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.
EBA Publishes Report on Asset Encumbrance of Banks in EU
EBA published the annual report on asset encumbrance of banks in EU.
US Agencies Publish Updates for Call Reports, FFIEC 101, and FR Y-9C
FED updated the reporting form and instructions for the FR Y-9C report on consolidated financial statements for holding companies.
EBA Proposes Guidelines for Establishing Intermediate Parent Entities
EBA issued a consultation paper on the guidelines on monitoring of the threshold and other procedural aspects of the establishment of intermediate EU parent undertakings, or IPUs, as laid down in the Capital Requirements Directive.
EC Adopts Financial Reporting Changes Arising from Benchmark Reforms
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS Bulletin Examines Key Elements of Policy Response to Cyber Risk
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HMT Updates List of Post-Brexit Equivalence Decisions in UK
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.
EBA Issues Erratum for Technical Package on Reporting Framework 3.0
EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.
APRA Publishes FAQ on Measurement of Credit Risk Weighted Assets
APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.
ECB Letter Sets Out Strategies to Address Issue of Nonperforming Loans
ECB published a letter from Andrea Enria, the Chair of the Supervisory Board of ECB, answering questions raised by the President of the Bundestag (the German federal parliament) on how ECB assesses the financial stability of the euro area in the context of the significant level of nonperforming loans.
