Bank innovation in consumer data will increase, EBA says
New laws will hasten pace of innovation but should increase consumer rights, EBA argues
European regulators should prepare for financial companies making increased use of consumer data as new laws come into effect and technology develops further, the European Banking Authority said.
Innovative uses of consumer data were not equally widespread throughout all European Union countries, the EBA said in a report on consumer data, published on June 28. But it added that “the proliferation of the innovation is accelerating, and therefore deserves ongoing monitoring by supervisory
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