European Banking Authority publishes FinTech discussion paper
On 4 August 2017, the European Banking Authority (EBA) published a discussion paper on its approach to FinTech. To enable a better understanding and insight into the financial services offered and financial innovations being applied by FinTech firms within the European Union, the EBA undertook a FinTech mapping exercise. The EBA received responses from 22 Member States and two European Economic Area (EEA) states, and the discussion paper outlines the results of its EU-wide mapping exercise, the main financial services provided, regulatory status and proposals on future work on FinTech.