Finance Innovation
FI
Finance Innovation (FI) is a global competitiveness cluster that supports the development of innovative, digital, and deep-tech solutions.
ID: 716658146507-27
Lobbying Activity
Response to Open finance framework
31 Oct 2023
Finance Innovation, is a trusted hub for the financial sector. It focuses on digital and sustainable transformation, supporting innovative projects by startups and helping major groups identify trends. By bringing together finance industry players, Finance Innovation fosters partnerships and business opportunities, driving innovation, competitiveness, and job creation in France and internationally. During the last 3 years, Finance Innovation has fostered collaboration across its members to leverage Open Banking and Open Finance for the benefits of the natural persons and the enterprises and take this opportunity to clarify that access to data and financial services must be promoted with one objective and several key considerations: - Concrete benefits to the consumers (either natural persons or Entreprises) is the objective, - Innovation should be promoted, and Competition is the enabler, - Consumer personal data is the fuel for services tailored to their specific situations however true levers shall be provided so the consumers gain and keep confidence in the ecosystem. With this perspective, Finance Innovation welcomes the European Commission Finance Data Access regulation proposal to set up a level playing field to reduce complexity, foster innovation and create trust. The attached memo is our feedback to the Financial Data Access open consultation opened until 2023, Nov 1st.
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