Digitalised financial market presents challenges and opportunities

2016-05-03 | Press releases Markets

The higher degree of digitalisation can lead to more cost-efficient solutions for both consumers and financial companies. However, it is important to safeguard consumer protection.

Digitalisation on the financial market is in focus at FI's Consumer Protection Day, which is being held today, Tuesday, 3 May.

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"Digitalisation can lead to increased competition on the financial market as well as lower prices. But this must not occur at the expense of consumer protection," says Erik Thedéen, Director General of FI.

FI is also presenting its annual report on consumer protection on the financial market today, which includes a review of the areas that have the highest priority in terms of consumer protection supervision.

FI highlights the risks with the highest priority, which are the risk that consumption loans will lead to over-indebtedness, the risk that consumers will receive advice about financial products that is not suitable based on their needs or circumstances and the risk that fund management companies will not fairly describe the focus and activity of their fund management.

The Consumer Protection Report will be presented today at FI's Consumer Protection Day, 9:00am–11:00am at Aulan Norra Latin, Drottninggatan 71B, Stockholm.

Erik Thedéen, Director General of FI, and Malin Omberg, Executive Director of Consumer Protection, will be available for questions from the media.

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