The German Banking Industry Committee (GBIC) welcomes the objective pursued by the proposal for a European Data Act, namely to establish a horizontal legal framework to facilitate the access to data for, and the exchange of data between, consumers and businesses.
Data-driven
innovation and services are becoming increasingly important, both for
individual businesses and the European economy as a whole. This requires
access to data along the entire value chain across the different
service providers involved. Limiting the scope to machine-generated data
does not go far enough since this will fail to cover a lot of data and
thus leave untapped significant potential for new and improved products
and services in areas such as banking.
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