The official launch of European Fintech Association (EFA) marks the coming together of Fintech companies across Europe to meet European Commission’s (EC) agenda for a new financial strategy.
The trade body represents 20 fintech firms across the EU and says to be the first not-for-profit organization in the continent. EFA also announces on Twitter their excitement to be officially launching. This deal also brings together EFAlliance and FinTechs4Europe in unification with other Fintech firms.
Other EFA members include TrueLayer, German Neobank N26, and P2P platform Mentos.
EFA aims at reducing cross-border barriers, the idea of a single EU market, and future proof regulation for a better financial landscape and growth of Fintechs in Europe. The trade body’s members will be focusing on sectors such as banking, investment, payments, verification, lending, software, and robo-advice.
In a statement Marc Roberts, the president of the board of European Fintech Association expressed the need of innovation, transparency, and understandable financial services not met earlier in Europe.
To achieve the association’s goal, EFA will bring together the expertise of leading Fintech providers such as solarisBank, Raisin, Funding Circle, Billie, Kantos, Verimi, and the likes.