Discussion Paper on innovative uses of consumer data by financial institutions

This Discussion Paper on innovative uses of consumer data by financial institutions has been developed in fulfilment of the EBA's mandate to monitor financial innovation. The paper identifies risks and benefits for consumers and financial institutions, as well as for financial integrity in general. Feedback received on this Discussion Paper will inform the EBA's decision on which, if any, further actions may be required to mitigate the risks arising from this innovation, while also allowing market participants to harness its benefits.