TechCrunch: The EU’s new regulatory environment might help fintech flourish

TechCrunch published an article on how the new EU’s regulatory environment can help EU Fintech to flourish:

“In recent years, the EU has introduced a plethora of regulations, from standardized mobile and internet payments (PSD2) to voluntary regulatory framework on bank capital adequacy, stress testing (Basel 3), the Anti-Money Laundering Directive (AMLD), a European-wide initiative to standardize the processing of electronic payments in Euro (SEPA), harmonized regulation for investment (MiFID2), harmonized EU-wide insurance regulatory regime (Solvency2), a set of accounting standards (IFRS) and now the soon-to-be launched e-invoicing directive requiring all 28 EU member states to use specific e-invoicing standards for all B2G e-invoices by November 27, 2018.

Europe’s current e-invoicing adoption rate of 24 percent is expected to rise to 95 percent by 2024 and accrue savings of approximately 64.5 billion euros ($72 billion) per year for businesses.

Cedric Bru, the CEO of payments supplier software Taulia:
“Fintech is quickly becoming the connective tissue for businesses around the world. When disparate systems and processes are connected, all business partners benefit through improved efficiency and insight to drive agile financial and business strategies. This helps them be more successful in increasingly competitive and volatile markets, powering economic growth.”

Full article