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The European Commission’s new package on digital payments and financial data access (Part II): Financial Data
The fintech sector, currently representing a small 2% share of global financial services revenue, is estimated to reach $1.5 trillion in annual revenue by 2030, reaching the 25% of the total banking valuations. With the new #FIDA Regulation, European opening banking and digital financial services will certainly have an opportunity to scale up and grow in the upcoming years. In this second article, Lighthouse Europe explains in a nutshell the content of the regulation and gives a short analysis of its interplay with other EU pieces of legislation.