Industry Surveys
As part of the EBA’s thematic work on financial innovation the EBA from time-to-time issues surveys to the industry to gather important inputs on market developments and regulatory and supervisory issues. A list of current ongoing and closed surveys can be found in this section of the EBA’s FinTech Knowledge Hub.
Ongoing surveys
Closed surveys
In line with the EBA’s work programme on financial innovation, the EBA is currently performing an analysis of the use of digital platforms in the banking and payments sector and invites financial institutions to share on a best efforts basis their views and experience on the use of digital platforms via the online survey.
The aim of the survey is to better understand market developments, and any opportunities and challenges arising, including in the context of the scaling up of platform cross-border. The inputs will inform any relevant future policy discussion.
The survey is available using the following link: https://ec.europa.eu/eusurvey/runner/EBA_digital_platforms_survey_2020
The consultation runs until Monday 7 December 2020.
For your convenience, the survey is provided in PDF form to given an overview of the structure and content of the survey - see the background documents section below. Please note that some questions can be answered using drop down options; some questions are conditional, i.e. respondents have to answer them depending on previous answers.
How to complete the digital platforms industry survey
The online survey is to be completed by financial institutions using or expecting to use within the next 5 years a digital platform to market to customers, or conclude with customers contracts for, financial products and services.
Please see the key definitions and instructions on how to complete the online survey below.
Key definitions
Specific definitions have been developed for the purposes of the survey and apply unless otherwise stated:
‘Digital platform’ / ‘platform’ means a digital platform that enables at least one financial institution directly (or indirectly using a regulated or unregulated intermediary) to market to customers, and/or conclude with customers contracts for financial products and services, with the exception of the following which are excluded from the scope of this survey:
- mobile banking apps or online banking tools used by a financial institution to offer core regulated services in a fully digitalised way displacing the need for customers to enter a physical branch or use a telephone service and without changing the nature of how financial institutions operate and deliver value (i.e. pure financial institution operated digital distribution channels);
- platforms used only by (and for) ‘crowdfunding service providers’ within the scope of the European Commission’s recent legislation;
- platforms used only by (and for) P2P lending;
- [for the avoidance of doubt, pure] Account Information Services (AISs) platforms under PSD2.
‘Financial institution’ means a credit institution, payment institution, electronic money institution or firm carrying out the activity of credit provision (lending activity) pursuant to national law of an EEA State.
‘Credit institution’ has the meaning given in point (1) of Article 4(1) of Regulation (EU) No 575/2013.
‘Electronic money institution’ has the meaning given in Article 2(1) of Directive 2009/110/EC.
‘Payment institution’ has the meaning given in Article 4(4) of Directive (EU) 2015/2366.
Instructions
The online survey is to be completed by financial institutions using, or expecting to use within the next 5 years, a digital platform to market their products and services to, or conclude contracts for products and services with, customers within the EEA.
The survey is divided into the following sections with all sections to be completed by each respondent, unless the respondent has indicated that they expect to use (but do not currently use) a digital platform within the next 5 years, in which case only Sections A and F need to be completed:
- Section A relates to the respondent and use of digital platforms (general information).
- Sections B to E relate to the digital platform currently in use, including: (i) the purposes for which the respondent uses the digital platform, (ii) the other entities using the same platform to market and/or conclude contracts for products and services; (iii) the features and operation of the digital platform; (iv) the customer interface and the use of data.
- Section F relates to opportunities and challenges arising in relation to the use of digital platforms.
Where a respondent uses more than one digital platform, please complete Sections B to E for the platform which the respondent regards as most significant from a business/business development perspective.
A specific definition of ‘digital platform’ has been developed for the purposes of the survey (see ‘key definitions’ section above).
The definition of ‘digital platform’ is framed broadly with the objective of being ‘model-neutral’ and encompassing a wide spectrum of different platform types. For illustrative purposes these include digital platforms that can be colloquially described as:
- Financial ‘marketplaces’: platforms comparing financial products and services offered by multiple financial institutions;
- Bank+, Payment+, E-money+: platforms used by financial institutions to market or distribute different products and services, and enabling customers to access products and services provided by third parties;
- Ecosystems: platforms acting as a single point of entry to financial and non-financial products and services offered by multiple providers;
- Banking/payments as a side service: platforms primarily used for the marketing of and conclusion of contracts for non-financial services but enabling the marketing or conclusion of contracts for some financial services, for example, via social and communications networks (the financial offering being an ancillary piece of the platform’s value proposition).
The platform categories referred to above are for illustrative purposes are not used in the survey (which instead uses the term ‘digital platform’) as defined.
The approach to the definition of 'digital platform' is also entirely technology neutral, for instance the platform may be online or provided in the context of a mobile device and associated operating system.
Certain types of digital platform are excluded from the scope of the work – see the definition of ‘digital platform’.
EBA Digital Platforms Survey |
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Specific Privacy Notice – Digital Platforms survey |
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In line with the EBA’s work programme on financial innovation, the EBA is currently performing an analysis in the area of RegTech and invites all relevant stakeholders to share their views and experience on the use of RegTech solutions via a RegTech industry survey, on a best effort basis. The aim of the survey is to better understand the ongoing activity in this area, raise awareness on RegTech within the regulatory and supervisory community, and inform any relevant future policy discussion. The EBA is also seeking ways to facilitate the adoption and scale up of RegTech solutions across the EU whilst acknowledging and looking to address the underlying risks.
In order to collect industry feedback, the EBA has prepared two separate questionnaires. One is to be completed online by the financial institutions, and the other one by ICT third party providers. The questionnaires are available at the following links:
The consultation runs until 30 September 2020.
For your convenience, questionnaires in PDF version that provide an overview of all the questions included in the survey are available in the background documents section below. Please note that some questions are conditional, i.e. respondents have to answer them only depending on previous answers.
How to complete the RegTech industry survey:
Please note that two separate online questionnaires are available - one is to be completed by the financial institutions, and the other one by ICT third party providers. Please see detailed instructions how to complete the online RegTech industry survey below.
For the purposes of this questionnaire, the following definition applies:
RegTech means any range of applications of technology-enabled innovation for regulatory, compliance and reporting requirements implemented by a regulated institution (with or without the assistance of ICT third party providers).
Responses should refer only to RegTech solutions (in line with the above definition) as other applications (for example applications for enhancing internal processes) should not be included in this survey.
The questionnaire to be completed by financial institutions is structured as follows:
- Section A is dedicated to the collection of information on the RegTech solutions used by financial institutions, the main barriers to the adoption of RegTech solutions, as well as on the possible initiatives that could facilitate and support the uptake of RegTech solutions. This part should be completed by all financial institutions.
- Section B is dedicated to collect further information on the use of RegTech solutions, such as spending on RegTech, time to adopt, governance elements, and any challenges in using RegTech solutions. This part should be completed only by financial institutions who have RegTech solution(s) in use /launched, pilot testing or under development.
- Section C seeks to have a closer look at the RegTech solutions in four specific areas of focus, in particular: i) Anti Money-Laundering /Combating the Financing of Terrorism (AML/CFT) – on going monitoring of the business relationship and/or transaction monitoring, ii) creditworthiness assessment, iii) compliance with security requirements and standards (information security, cybersecurity, payment services), or iv) supervisory reporting.
Section C should be completed only by financial institutions who have RegTech solution(s) (in use/launched, pilot testing or under development) in the mentioned areas of focus. Please respond for each RegTech solution that you have and which falls within the said categories separately. In practice this means that you are invited to submit this section multiple times if you have more than one solution that you would like to report.
The questionnaire to be completed by ICT third party providers is structured as follows:
- Section I is dedicated to the collection of information on the RegTech solutions being provided in the market, activities of ICT third party providers, main barriers and possible initiatives to facilitate the uptake of RegTech solutions from the ICT third party providers’ perspective. This part should be completed by all ICT third party providers.
- Section II seeks to have a closer look to the RegTech solutions in four specific areas of focus, in particular: i) Anti Money-Laundering /Combating the Financing of Terrorism (AML/CFT) – on going monitoring of the business relationship and/or transaction monitoring, ii) credit worthiness assessment, iii) compliance with security requirements and standards (information security, cybersecurity, payment services), or iv) supervisory reporting.
Section II should be completed only by ICT third party providers who offer RegTech solution(s) in the mentioned areas of focus. Please respond for each RegTech solution that you provide and which falls within the said categories separately. In practice this means that you are invited to submit this section multiple times if you provide more than one solution that you would like to report.
The respondents are advised that this questionnaire whilst complementing other ongoing projects in the field of supervisory reporting and the use of technology there, has a different purpose and does not overlap with them, in particular:
- the industry questionnaire for the study of the cost of compliance with supervisory reporting, and
- feasibility study on integrated reporting.
In particular, this RegTech industry survey aims at:
- mapping and understanding the existing RegTech reporting solutions available from a technology/innovation perspective, with a view of sharing knowledge across both industry and competent authorities;
- identifying the main barriers for the uptake of RegTech solutions; and
- stock taking on the potential initiatives to support the uptake of RegTech solutions.
The results of RegTech industry survey will be used to report on the current RegTech landscape and, where relevant, will inform the broader work on supervisory reporting. To this end, the RegTech industry survey will not lead to any specific policy considerations or recommendation as regards the use of RegTech for the purposes of supervisory reporting, which is mean analysed in greater details in the two specific studies referred to above.
Specific Privacy Notice – Digital Platforms survey |
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