FinTech and Competition Regulatory Concerns in the EU Banking Business Framework

This chapter investigates how FinTech applications may deal with competition concerns in the EU legal framework for commercial banks in order to figure out whether and how FinTech may help or worry policymakers. Using the 2007 Sector Inquiry Report as the starting point for this legal analysis, this chapter looks at the following research questions with regard to the EU-based regulatory framework: (i) whether the social role of commercial banks might have impaired the applicability of competition law and, in this context, what role the digital euro might play; (ii) whether FinTech may improve European regulators’ ability to deal with the cost and the drawbacks of two-sided payment platforms; (iii) in the end, whether FinTech could improve the interoperability of national credit registers.