The Future of Retail Financial Services


In recent years, the digitalisation of retail financial services – retail payments, current/savings accounts, consumer/housing credit, car insurance, property insurance and health insurance – has accelerated significantly. While policy-makers are gradually creating the necessary conditions to strengthen this digital transformation, numerous policy issues and unanswered questions remain. Against this background, CEPS-ECRI formed a Task Force to explore four specific core questions: What type of level playing field is necessary during the digital transformation? What are the opportunities and risks related to big (alternative) data and increasingly sophisticated algorithms? What framework of pre-contractual information duties is appropriate in a digital era? How can the regulatory framework for digital authentication be improved?