European Commission calls tenders for fintech study

The European Commission has announced the call for tender for a study on overview of the continent’s fintech sector, offering up to EUR350,000.

According to the tender notice, the study is designed to help EC better understand the fintech and its players and to evaluate the impact on the banking sector and financial services industry and its incumbent players.

Closing date for the receipt of tenders is on 29th September 2016, and the winning bidder has to describe the key European players and their position in the global context. They should also understand the innovation aspects of the financial technology sector in terms of tech and business models and its impact on current regulation.

The study, titled ‘Overview of the fintech sector: challenges for the European players and possible policy measures at EU level’ identifies specific issues like policy and regulatory, to be solved in terms of fintech and EU policy initiatives including the Capital Markets Union, retail banking among others. The study also develops possible scenarios for the future development of financial services industry.

The European Commission (EC) is the executive body of the European Union responsible for proposing legislation, implementing decisions, upholding the EU treaties and managing the day-to-day business of the EU. The Commission operates as a cabinet government, with 28 members of the Commission.