Commissioner Maria Luís Albuquerque addressed the Afore Consulting 10th Annual FinTech and Regulation Conference on February 3, 2026, outlining her vision for the EU’s role in digital finance. Her speech centered on advancing a digital finance ecosystem in Europe characterized by openness, integration, and sovereignty.
FinTech as the New Financial Standard Albuquerque argued that fintech is no longer a niche sector but a core expectation for all financial market participants. From startups to established institutions, embracing digital innovation is now necessary for competitiveness and relevance in Europe’s financial markets. She credited EU policymakers for pioneering frameworks like MiCA and the DLT Pilot Regime, which aim to balance enabling innovation with mitigating risks, especially regarding digital assets and tokenised securities.
FiDA and Venture Capital A significant segment of the speech focused on the forthcoming Financial Data Access proposal (FiDA), intended to empower consumers to control their data and promote competition through open finance. Albuquerque acknowledged concerns from industry stakeholders and co-legislators about potential costs and complexity, noting the Commission’s efforts to simplify the framework and reduce adjustment burdens. She presented FiDA as a driver of innovation, enhancing personalized services and competitiveness.
Additionally, Albuquerque highlighted ongoing EU work to reform rules governing venture and growth capital funds to stimulate scaling of innovative firms across the Union.
Political Significance and Policy Orientations Albuquerque’s speech signals a policy orientation toward increasing EU regulatory powers in financial technology and data sharing, reinforcing EU financial sovereignty, and enhancing competition within the digital finance sector. The proposals call for stronger institutional frameworks and more integration across the Union. The tone stresses cautious yet open acceptance of innovation and risk, promoting a collaborative build-up of digital infrastructure.
Stakeholder Impact The planned policies could positively impact European consumers by granting greater data control and access to personalized financial services, potentially increasing consumer empowerment and choice. Financial service providers, including fintech startups and traditional banks, face new compliance and operational demands but also opportunities for innovation and market expansion. Venture capital firms may benefit from relaxed cross-border operational rules, facilitating investment scale and mobility.
Conversely, some industry participants express concerns over implementation costs and system complexities, which the Commissioner acknowledged and seeks to mitigate. National authorities may experience enhanced supervisory responsibilities. The EU’s regulatory bodies could see strengthened roles in overseeing digital financial markets.
Overall, Albuquerque’s proposals aim at a moderate to major shift toward deeper EU integration in digital finance regulation, fostering a cohesive and competitive European digital finance sector poised to compete globally.
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