Wednesday, 04 November 2020

Press Release: Teleconference/Public consultation in the context of the HCC Fintech sector inquiry

Subject: Teleconference/Public consultation in the context of the HCC Fintech sector inquiry

The Hellenic Competition Commission (‘HCC’) in the context of the first phase (Phase A’) of its sector inquiry into Fintech which is undertaken with the collaboration of the Bank of Greece has successfully completed its teleconference/public consultation with various stakeholders. The teleconference followed the written submissions by the companies and institutions concerned, and served as an interactive forum for exchanging views on the competitive conditions prevailing in the Fintech sector.

The teleconference, held via a private live streaming studio in FULLHD, is part of the broader reform of the HCC’s digital communication. In enhancing HCC’s digital communication, the authority hopes to ensure a more direct contact with businesses as well as consumers and citizens for the benefit of Greece’s economic growth.

The teleconference was attended, through the HCC's platform, by many stakeholders including undertakings, associations of undertakings and traders, lawyers and economists, as well as academics, social partners and consumer organisations.

During the event, Head of Competition Authority, representatives of the Bank of Greece, prominent academics and market representatives presented on a wide range of current competition issues as well as the ability of modern technology tools to facilitate restrictions of competition in the digital environment.

In particular, the teleconference covered four key topics, namely:

a) Fintech in Greece – state of play,

b) Payments Systems,

c) From Open Payments to PSD2 and Open Finance, as well as

d) The Central Bank as a facilitator of innovation.

Participants had the opportunity to communicate in real time with the representatives of the HCC and the speakers, to raise questions and express their views on issues of their interest.

The findings of the teleconference together with the participants’ comments will be assessed by the HCC Research Team and will be used to draft and send questionnaires to sector representatives. Phase A’ of the sector inquiry will be completed with the issuing of the first draft Report by the end of the year.

A teleconference video overview is uploaded to the HCC’s YouTube channel.

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