What are the Next Steps?

On 25 October, Commissioner McGuinness gave a speech at an event hosted by MEP Ondrej Kovarik on the future of payments and Open Finance in Europe. She begins by looking at the ways in which the payments market has expanded in recent years. But, she adds, when you have a big market, you end up seeing more sophisticated types of fraud – and this is something the EU needs to tackle. Commissioner McGuinness goes on to talk about what the Commission is doing to modernise the EU’s rules on payments, how it is updating rules on Open Banking, and the proposal on financial data access, or FIDA.

Read the full speech here