I also believe that we and NCA and ESA colleagues need to ensure we play an active role in the development and design of policy proposals by the Commission and by legislators, in the EU and domestically.
Retail transactions, compared with corporate transactions, involve far greater numbers of customers and correspondingly large amounts of data, and require a large number of competent employees at branch offices to provide various financial products and services. The progress in IT, however, has made it much easier to process massive amounts of data efficiently.