3FOOD

Third Industrial Revolution Consulting Group
5. Access/e-identification/e-signature: Harmonise the rules of digital access (including
customer on-boarding, authentication and KYC processes) to banking services and
product, and ensure interoperability within the EU by promoting banking initiative
where banks are providers of digital identity services, possibly in collaboration with
public authorities ; remove existing barriers to the cross-border use of electronic
identification by defining “banking assurance levels” for authentication purposes
and by promoting an interoperable environment with the recognition of a
preferential use of cross-border national e-IDs in agreement with public authorities;
establishing common e-KYC standards for individuals and companies and common
standards for document authentication and procedure to ease the use of e-
signature at domestic and cross-borders level.
6. Payments and aggregation: Establish harmonized licenses, conditions of approval
and supervision across EU to operate with transactions, payments and financing and
foster the viability of European card and payments business models. Make sure that
the same level of consumer protection and data privacy is implemented by all the
actors in the payment and aggregation chain. Ensure a fair allocation of rights and
liabilities amongst all actors in the payment/aggregation chain.
7. Cybersecurity: Ensure high standards of cyber protection requirements for entities
and third party providers accessing platforms and bank accounts. Avoid duplicative
reporting requirements. Raise awareness towards public authorities, industry and
consumers on potential cyber risks & threats. Create the appropriate framework and
network for information sharing (threats, incidents ad countermeasures)
8. Blockchain technologies: For the financial services sector Blockchain technology
could provide opportunities to overhaul existing banking infrastructure, speed
settlements and streamline stock exchanges; EU framework (although perhaps
premature to consider any regulation at this stage) should put the banking sector in
the position to take full advantage of solutions using this technology.
9. Alternative lending and investments (assets and liabilities): Ensure consistent
harmonization and supervision of investment and lending licenses to ensure
customer and investor protection; Ensure a level playing field among EU players and
with non EU players, remove inconsistencies in EU legislation and obstacle to
innovations.
10. Digital skills: Improve employee’s skills and competencies focusing on the conduct of
a digital/online business in order to guide customers through online product and
services. Improve job rotation practice, to help incentives for knowledge exchange
and to build multi-skill professional profiles (e.g. through structured job rotation).
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