Commission's FISMA DG Berrigan: Speech at Consob conference "The new frontiers of digital finance"

10 March 2023

The Digital Finance Agenda is one of the key elements on the Commission’s financial services agenda. And it fits into a much broader Commission policy on digital transition alongside the green transition.

Why do we have an EU digital agenda?

The objective of the digital agenda is for the financial sector in the EU to embrace the
wider digital transition in the economy - and ultimately become a global leader in the
field.
Digital Finance promises many opportunities for the financial sector and, by extension,
for business and consumers and the economy as a whole. Among those opportunities, I
would include – in no particular order:
 fostering innovation in the financial sector, allowing the creation of better
products that can be distributed more easily and more widely.
 facilitating access to the financial sector, including for those people who currently
experience some degree of financial exclusion.
 providing new ways of channelling funds to EU businesses, in particular SMEs.
 supporting long-term economic growth and the broader transition to a more
digitalised and sustainable development model.
 enhancing financial market integration across the EU and underpinning the
Economic and Monetary Union.
 Strengthening the EU’s open strategic autonomy and enhancing resilience in the
financial sector.
It is because of these – among other - potential opportunities that the Commission
proposed the EU Digital Finance Agenda in September 2020....

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