The European FinTech Association (EFA) has officially launched and counts peer-to-peer lender Funding Circle among its members.
The trade body says it is the first not-for-profit organisation representing FinTech firms of all sizes from across the EU.
Its main aims are: to develop cooperation between FinTech companies within the EU; to provide a unified voice for the FinTech sector; and to represent the interests of its members at a political policy level.The association’s members operate in sectors such as payments, lending, banking, robo-advice, identity verification, investment and software-as-a-service.
Other members of the EFA include Latvia-based P2P platform Mintos, German neobank N26 and open banking provider TrueLayer.
The EFA supports the development of a digital single market for financial services with consistent consumer protection standards, future proof regulation and true competition in the market.
“By encouraging proportionate regulation that will support European financial innovation and facilitating seamless market access, we believe the EU can be a kick-start for global growth of fintech companies,” the EFA said on its website.
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Written by: SUZIE NEUWIRTH