For many decades, innovative technologies have been developed and applied to support the provision of financial services. However, over recent years, the range of financial innovations, the prevalence of their use and their pace of evolution have increased substantially. In light of these developments, there is a challenge for regulators and supervisors to allow opportunities presented by FinTech to be fully and properly realised without undermining consumer protection, the level playing field, the integrity of the financial markets and the stability of the financial system taken as a whole.


Roadmap on FinTech

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In August 2017, the EBA published a Discussion Paper on its approach to FinTech, which requires the EBA to contribute to enhancing consumer protection, promoting a sound, effective and consistent level of regulation and supervision, preventing regulatory arbitrage and promoting equal competition. In this context, the EBA published in March 2018 a Roadmap on FinTech setting out its priorities for 2018/2019.

This Roadmap also sets out the establishment of a FinTech Knowledge Hub to enhance knowledge sharing and foster technological neutrality in regulatory and supervisory approaches.

This Technical Note summarises the EBA’s FinTech Roadmap and shows an indicative timeline on the work carried out by the EBA for each aspect.

Executive summary

The EBA’s Roadmap focuses on authorisation and regulatory perimeter issues relating to FinTech, the impact on incumbent institutions’ business model and prudential risks, cybersecurity, consumer protection, anti-money laundering and countering the financing terrorism (AML/CFT), as well as the creation of a FinTech Knowledge Hub.

Scope of application

This document applies to the European Supervisory Authorities (ESAs: EBA, EIOPA, and ESMA). 

Main content

  • Authorisation and regulatory perimeter issues relating to FinTech. The EBA will monitor the regulatory perimeter, including assessing current authorisation and licencing approaches to FinTech firms, and analyse regulatory sandboxes and innovation hubs.
  • Impact on incumbent institutions’ business models and prudential risks and opportunities arising from the use of FinTech. The EBA will monitor emerging trends and analyse the impact from the use of FinTech. Further, the EBA may also analyse how institutions are responding to these risks and how they adopt their internal governance, control and risk management frameworks.
  • Cybersecurity. The EBA will promote best supervisory practices on assessing cybersecurity and promoting a common cyber threat testing framework.
  • Consumer protection. The EBA will address consumer issues arising from FinTech, in particular in the areas of unclear regulatory status of FinTech firms and related disclosure to consumers.
  • AML/CFT. The EBA will identify and assess AML/CFT risks associated with regulated FinTech firms, technology providers and FinTech solutions.
  • FinTech Knowledge Hub. The EBA will form a FinTech Knowledge Hub that will provide an overarching forum bringing together competent authorities (CAs).

Download the technical note by clicking here .