big data

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Big data and fintech: a solution for financial exclusion ?

The big event in October was the conference organized by EFIN, BEUC and CEPS-ECRI. It was a wide-ranging debate in which much was said not least about big data, the right to privacy, and the reality or otherwise of consents given by consumers. But what can be concluded in relation to the specific issue in [...]

By | November 8th, 2017|Events, We Disseminate|Comments Off on Big data and fintech: a solution for financial exclusion ?

REGISTER NOW! Big data and fintech: a solution to financial exclusion?

Big data and fintech: a solution to financial exclusion? Conference 17th October 2017, Brussels, co-organised by BEUC-ECRI-EFIN Place du Congrès, 1 – 1000 Brussels The conference will explore, from the perspective of financial inclusion, the potential risks and benefits of big data and fintech for citizens. The underlying question is whether regulators should take action [...]

By | October 3rd, 2017|Events, Hot Topics, We Disseminate|Comments Off on REGISTER NOW! Big data and fintech: a solution to financial exclusion?

Case Study: Fintech and the Financial Exploitation of Customer Data

When vulnerable people might not benefit from Fintech and Bigdata : ...We invite you to access the following link , from Privacy International Extract:  "Financial services are collecting and exploiting increasing amounts of data about our behaviour, interests, networks, and personalities to make financial judgements about us, like our creditworthiness. Increasingly, financial services such as [...]

By | September 5th, 2017|Hot Topics, Reading Room|Comments Off on Case Study: Fintech and the Financial Exploitation of Customer Data

EFIN response to European Supervisory Authorities consultation on Big Data

To access the response, clic here

By | March 23rd, 2017|Hot Topics, Reading Room, We Advocate|Comments Off on EFIN response to European Supervisory Authorities consultation on Big Data

European Supervisory Authorities consult on Big Data – deadline 17 March

EBA information - available  here The Joint Committee of the European Supervisory Authorities (ESAs) launched today a public consultation about the potential benefits and risks of Big Data for consumers and financial firms to determine whether any further regulatory or supervisory actions may be needed. Big Data is a phenomenon linked to the ever increasing [...]

By | February 16th, 2017|Hot Topics|Comments Off on European Supervisory Authorities consult on Big Data – deadline 17 March

EBA – Innovative uses of consumer data

Innovative uses of consumer data by financial institutions: A financial regulator’s view Rita Bairros - Consumer Protection, Financial Innovation and Payments, EBA 7th December 2016, European Banking Authority-  Access the presentation here

By | December 7th, 2016|Events, Reading Room|Comments Off on EBA – Innovative uses of consumer data

Impact of Big Data on Financial services (FSUG paper)

Impact of Big Data on Financial services (FSUG paper) - COFACE presentation to the 7th December Conference "Personal Insolvency", EU Parliament, Brussels  

By | December 7th, 2016|Events, Reading Room, We Disseminate|Comments Off on Impact of Big Data on Financial services (FSUG paper)

USA concerns about the use of big data,… Food for thought for European : Big Data impacts financial inclusion of poor and vulnerable people

Link to an U.S. comedy show that accurately portrays the problems with the U.S. credit reporting system: “Last Week Tonight with John Oliver: Credit Reports”  “How big data harms poor communities”:  a report from the National Consumer Law Center (an American consumer organization). It focuses on “big data” and its impact on economically vulnerable consumers. [...]

By | September 18th, 2016|Hot Topics|Comments Off on USA concerns about the use of big data,… Food for thought for European : Big Data impacts financial inclusion of poor and vulnerable people

The European Banking Authority (EBA) opens a consultation on the use of consumer data by financial institutions:

Deadline 4 Augustus 2016 "The European Banking Authority (EBA) published today a Discussion Paper on innovative uses of consumer data by financial institutions, in line with its mandate to monitor financial innovation. The paper identifies risks and benefits for consumers and financial institutions, as well as for financial integrity in general. Feedback received on this [...]

By | July 18th, 2016|Hot Topics|Comments Off on The European Banking Authority (EBA) opens a consultation on the use of consumer data by financial institutions:

Assessment of current and future impact of Big Data on Financial Services

FSUG - Assessment of current and future impact of Big Data on Financial Services A common criticism about regulation is that it always lags behind innovations and is obsolete by the time it comes into law. This paper is an attempt at exploring potential future challenges brought about by Big Data on financial services and [...]

By | January 6th, 2016|Reading Room|Comments Off on Assessment of current and future impact of Big Data on Financial Services