The pilot implementation will focus on the following use cases: statement sharing or account aggregation, account opening, and e-KYC [electronic Know-Your-Customer]. Is it not wonderful if data about your good record of always paying your electricity bill on time, your water bill on time, all of those things will clearly show that you are a low-risk borrower and, therefore, deserves low-interest rates?
Therefore, the CEE countries benefited strongly from the ECB’s enhanced credit support policy and the unlimited provision of liquidity to euro area banks. On top of this, the ECB has offered some of the national central banks repo lines to meet euro liquidity needs. Overall, we can say that European authorities and institutions have supported the CEE countries to weather the crisis.