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European Financial Services Round Table

Tuesday, September 29, 2015
Digitalisation: EFR letter on the Digital Single Market Strategy for Europe
On 6 May 2015 the European Commission published a Communication on "A Digital Single Market Strategy for Europe". In response to this communication the EFR sent on 29 September 2015 a letter to Vice-President Ansip and Commissioner Oettinger, in which the EFR shares its reflections on the Single Market initiative for Digital Financial Services. EFR expressed its full support towards the European policymakers' efforts to take "ambitious legislative steps towards a connected digital single market", and consequently hasten the development of a "true" European Single Market. Digital innovation offers the financial services industry the opportunity to improve services to their customers, widen participation in the digital economy and boost the EU's growth potential. In its letter, the EFR highlights four key issues that are crucial to achieve the Digital Single Market in Europe: 1. Use of data, 2. Transactional systems, 3. eIDs and eSignatures, 4. Cyber Security Addressing these issues will help to ensure the long-term financial security of millions of European citizens in the (Digital) Single Market.