EBF advisor: Noemi Papp
Publication date: 10 November 2016
The EBF recognizes the potential of electronic identification schemes (eIDs) for performing secure cross-border electronic transactions and accessing public services in other EU countries in a seamless, faster, secure way. For the Financial Sector, in particular, the eIDAS presents huge opportunities in terms of rapid onboarding of customers as well as the capacity to engage cross-border, contractually, with new customer markets in a secure environment and reduce fraud and operational costs. A sufficient uptake in the private sector is one of the critical elements in ensuring the success of the eIDAS Regulation. For this reason, the EBF is calling on Member States to develop electronic identification schemes for their citizens and, by this way, ensure full access to these schemes by the private sector.