Diversifying financing sources and improving financial market integration  The European Commission proposal unveiled last February to establish a Capital Markets Union by 2019 has among its primary objectives the broadening of non-bank sources of financing and lowering barriers to cross-border investment. The need to achieve a more diversified financial system is especially due to the bank-centric character of European financial systems.
Practice 2: the creation of innovation facilitators such as hubs and sandboxes to keep close to emerging developments and foster shared learning  The second practice is the review and creation of structural mechanisms to enable ongoing market engagements. These include efforts aimed at collecting fintech data, organising market outreach initiatives, and implementing structures such as innovation hubs, innovation accelerators and regulatory sandboxes.