The European Savings and Retail Banking Group (ESBG) welcomes the intention to remove fragmentation and to build a harmonised legal framework across Europe, recognising the role of Member States as providers of the European Digital Identity Wallet.
BRUSSELS, 15 June 2021 – ESBG welcomes the intention of the European Commission (EC) to end the current regulatory and technological fragmentation of electronic identification across EU Member States, as announced on 3 June, with the creation of a regulatory framework for a European Digital Identity.
The proposed harmonisation would help correct some of the shortcomings of the current eIDAS Regulation, whose partial (only public services are included) and heterogeneous adoption by Member States resulted in a highly underutilised ecosystem in the Union, particularly for cross-border access to services.
“The ESBG and its members welcome the Commission’s proposal and believe that it can contribute to the further integration of the European Union. We look forward to the coming discussions in both Parliament and the Council”, said Andreas Widegren the Chair of the ESBG FinTech Regulation Committee and Swedbank’s Senior Manager.
ESBG also supports the EC’s aim to ensure that at least 80% of EU citizens get access to digital ID solutions by 2030. Today, only 59% of EU citizens have access to trusted and secure eID schemes across borders.
The new proposal not only extends the eIDAS but it also puts forward an ambitious, interoperable EU-wide scheme centered around Digital Identity Wallets, to be issued by Member States as providers of legal identity.
A key factor will be the involvement of the private sector in the creation of the Trust Scheme, in a “process for close and structured cooperation”, as referred in recital 36 of the Regulation proposed by the Commission.
ESBG calls for the specificities of the financial sector to be taken into account in this involvement. As relying parties, banks should be aware of the chain of trust in data sharing, including all the actors involved.
ESBG is also in close collaboration with the other European Credit Sector Associations, in the context of the Inter-ECSA eID Task Force, which brings together experts from 36 financial institutions with the goal of expressing a common position for the whole sector. ESBG, together with the ECSAs, stands ready to further engage on the strategic issue of digital identity with the Commission, EU co-legislators and a wide range of stakeholders both at European and national level.
related
May 12, 2022
Overtime for Ukrainian war refugees: DSGV employees donate over 100,000 euros through extra work
European Savings and Retail Banking Group members are standing in solidarity with people in need in Ukraine.
May 12, 2022
Stand with Ukraine: Erste family provides extensive humanitarian aid
European Savings and Retail Banking Group members are standing in solidarity with people in need in Ukraine.
May 12, 2022
The German Savings Banks Association ( DSVG ): More than 100,000 accounts already opened for Ukrainian war refugees
European Savings and Retail Banking Group members are standing in solidarity with people in need in Ukraine.
May 12, 2022
CaixaBank has been leveraging its network of branches in Spain to assist asylum seekers and refugees fleeing Ukraine
European Savings and Retail Banking Group members are standing in solidarity with people in need in Ukraine.
May 12, 2022
Ukraine: ESBG members reaffirm their social responsibility
European Savings and Retail Banking Group members are standing in solidarity with people in need in Ukraine.
April 28, 2022
ESBG response to ESMA’s consultation on guidelines of MiFID II suitability requirements
ESBG's response to the European Securities and Market Authority (ESMA) consultation on some MiFID II sustainability aspects. European banks calls for clear procedures and to avoid unnecessary…
April 28, 2022
Scale2Save brings Ugandan financial stakeholders to commit for financial inclusion
A WSBI knowledge sharing event in Kampala ended with joint call to action for financial inclusion.
April 4, 2022
Developing a proportionate, fair and efficient IRRBB framework in the EU
On 4 April 2022, ESBG responded to the EBA consultation specifying technical aspects of the revised framework capturing interest rate risks for banking book (IRRBB) positions.
March 30, 2022
Scale2Save champions inclusive financial services for Nigerians
WSBI's programme held its first event in-person event since the pandemic in Lagos to great success.
March 24, 2022
ESBG members waive bank transfer costs to support Ukrainian people
European Savings and Retail Banking Group members are standing in solidarity with people in need in Ukraine.