How can Europe simplify its digital rulebook 𝘄𝗶𝘁𝗵𝗼𝘂𝘁 𝗮𝗱𝗱𝗶𝗻𝗴 𝗻𝗲𝘄 𝗹𝗮𝘆𝗲𝗿𝘀 𝗼𝗳 𝗰𝗼𝗺𝗽𝗹𝗲𝘅𝗶𝘁𝘆? The ABBL has contributed to the European Commission’s consultation on the 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗢𝗺𝗻𝗶𝗯𝘂𝘀, calling for 𝗺𝗲𝗮𝗻𝗶𝗻𝗴𝗳𝘂𝗹 𝘀𝗶𝗺𝗽𝗹𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 that delivers real operational benefits for financial institutions.
In today’s environment, banks must navigate multiple overlapping frameworks — including GDPR, NIS2, DORA, the AI Act and the Cyber Resilience Act. The challenge is no longer just the number of rules, but the 𝗳𝗿𝗮𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗱𝗲𝗳𝗶𝗻𝗶𝘁𝗶𝗼𝗻𝘀, 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗼𝗯𝗹𝗶𝗴𝗮𝘁𝗶𝗼𝗻𝘀 𝗮𝗻𝗱 𝘀𝘂𝗽𝗲𝗿𝘃𝗶𝘀𝗼𝗿𝘆 𝗽𝗿𝗼𝗰𝗲𝘀𝘀𝗲𝘀.
💡 Key messages from our response:
🔹 Simplification must lead to 𝗿𝗲𝗮𝗹 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗿𝗲𝗹𝗶𝗲𝗳, not additional layers
🔹 𝗔 𝗦𝗶𝗻𝗴𝗹𝗲-𝗘𝗻𝘁𝗿𝘆 𝗣𝗼𝗶𝗻𝘁 for reporting should replace existing channels, not duplicate them
🔹 Greater 𝗰𝗼𝗵𝗲𝗿𝗲𝗻𝗰𝗲 𝗮𝗰𝗿𝗼𝘀𝘀 𝗳𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸𝘀 is essential to avoid overlapping compliance exercises
🔹 On AI, 𝗹𝗲𝗴𝗮𝗹 𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝘁𝘆 𝗮𝗻𝗱 𝗽𝗿𝗼𝗽𝗼𝗿𝘁𝗶𝗼𝗻𝗮𝗹𝗶𝘁𝘆 are key for financial sector use cases
As highlighted in our position paper, simplifying the framework is also about strengthening competitiveness, innovation and resilience across Europe.
📖 Read the full article:
👉 https://lnkd.in/esNrUXks
📄 Explore the position paper:
👉 https://lnkd.in/egksuJyU
🙏 With contributions from Andrey Martovoy | Amandine Laurent | Galina Miroshnichenko
ABBL DigitalRegulation EU DORA AIAct NIS2 GDPR Competitiveness