On December the 10th 2015 the European Union introduced a Green Paper on retail financial services: better products, more choices, and greater opportunities for consumers and businesses.
The objective of the Green Paper is to consult on the next steps toward creating a more integrated European market for retail financial services for both consumers and businesses. Retail finance in the EU should work in the interests of consumers and give them the best deals, better products, more choice, and greater opportunities regardless of their age, skills and country of residence. It should also be easier for financial firms to do business across Europe where unnecessary barriers do not constrain the provision of services, including by digital means, and where physical establishment is not essential.
Bitkom welcomes the opportunity to comment the EU Green Paper on retail financial services and especially address the chances of digitization. We believe that the digital transformation of retail financial services caters the overall goal of the green paper to create better services, more choice and more competition.
European Parliament
