We post here the call to action sent to the European Commission and DG FISMA by ItaliaFintech together with other members of EDFA (the European Digital Finance Association).
“Dear Executive Vice-President Dombrovskis, The restrictions imposed in reaction to the Covid-19 pandemic are laying bare how low the actual level of digitization of economies and public administrations is despite all the available technologies. While there exist multiple digital solutions for providing financial services, many of them cannot be used at all, some cannot be deployed to their full potential or are not available in some EU member countries. The main obstacle lies in obsolete legislation. It should therefore be changed in order to enhance the availability of digital financial solutions and to empower a more secure and reliable digital world, especially in the post-Covid-19 reality.
European Fintech associations, which are now in the process of uniting under the European Digital Finance Association, have recently held a consultation on potential changes to the European regulation and other policy actions in the area of financial technologies. In light of the current situation we therefore call upon the European Commission to consider taking the following measures as soon as possible…”