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EBA’S SPEECH ON FINTECH AND CLOUD IN BANKING

The European Banking Authority (EBA) has published Slavka Eley’s, Head of Supervisory Convergence Unit at the EBA, speech given at the EBF Cloud banking Conference.

Slavka Eley’s speech covered three aspects relating to innovation:

  • the observed changes in the banking landscape mainly driven by technological innovation;

  • the use of cloud computing in banking; and

  • FinTech in a broader context and the EBA’s approach to FinTech.

In addition, she stated that as FinTech, including the cloud, is driving a major change in financial services, regulation and risk management policies must keep up with the efficiencies and modernity of FinTech while at the same time, ensuring that FinTech does not underestimate the reasons for regulatory compliance. In order to do this, it is necessary to have meaningful exchanges between the key stakeholders to ensure that innovation is encouraged in a way that allows for the risks to be mitigated.

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About this Author

Angie Bamboulis, Womble Carlyle Law Firm, United Kingdom, Banking and Finance Attorney
Solicitor

Angie is a solicitor in the banking and financial services team; where she assists with providing finance and regulatory advice to a wide range of client.
Prior to qualifying and during her training contract she completed a one day secondment at a private wealth bank, UBP over a 3 month period; as well as full time secondments at the firm's key clients – AIG and Post Office.

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