Toward a New Competitive Reality

It’s not unclear that policy makers around the world want to see new models to serve and add value to the end-users in finance. They’re not against increased transparency either. In Europe, the European Commission’s Executive Vice President Valdis Dombrovskis announced last week it’s considering introducing ‘EU passporting’ for FinTech companies. Passporting is the concept of having ‘finance standards’ from one EU territory to another for maximum compatibility and transferability.

Separately, the Commission also moved to prevent large fees imposed on money transfers within the EU, affecting mainly established banks and agents where most fees are present. Combined with new business models, client demand and policy changes, these will catalyze technology adoption and push the pace o ...