The European Parliament (EP) has recently published the study ‘Competition issues in the area of Financial Technology (FinTech)’ by Quanticae. This report focuses on the news competition challenges that can bring the increasing number of FinTech services provided by newcomer start-ups, traditional financial institutions and big tech companies.
The results of the study show that some factors can result in anticompetitive behaviors, namely the network effects derived from the use of online platforms, the access to customer data, standardisation, interoperability and the use of algorithms.
Combined with a service-by-service analysis, the study provides both descriptive analysis and normative tools to anticipate and manage anticompetitive behaviours as they occur. This document was provided by Policy Department A at the request of the ECON Committee.