Consumers and businesses access financial services digitally, market participants are deploying new or existing technologies in innovative ways, incumbent firms' business models are being transformed, and data is becoming a key asset for innovation, alongside IT infrastructure. n 2020, acknowledging the importance of these trends, the European Commission published its Digital Finance Strategy.
Its key objective is to embrace digital finance for the benefit of consumers and businesses. Digital transformation offers benefits and opportunities that can have a positive impact on financial and economic integration across borders, creating links between economies both at regional and at global level: Economic processes, such as supply chains, benefit from increased efficiency gains.