European public policies about the digitalization of the financial sector and the analysis of procedural stages

Mihaela Rus,Tănase Tasențe,Nicoleta Lavinia Nicolae,Mihaela Luminița Sandu

doi:10.47577/tssj.v29i1.6163

Abstract

This study seeks to point out the idea that the purpose of the analysis is to consider public policies related to elements that influence the development in a certain way. The future of the finances is digital: consumers and enterprises have begun to call on digital financial services. The market’s creative participants use new technology, and existing business are changing. Digital funding helps citizens and enterprises resist to unprecedented situations due to COVID-19 pandemic, for example, online authentication allows people to open accounts and to use many services from distance. Increasing proportion of in-store payments is presently digital, and electronic trade has increased dramatically. Ensuring a safe and reliable activity of digital infrastructure is also thanks to the increasing number of online financial services users and to financial sector employee which works on their own from distance. If there are any doubts, now is clear that digital funding could bring benefits, and citizens alongside European enterprises are ready to receive it. Europe must take advantage of this on its recovery activity to repair the damage caused by the pandemic. Digital technology will be essential for new releases. This would help Europe to become a global digital player. The European financial sector can create many projects in all Member States and may play a leading role in areas like digital payment technology. This would bring huge benefits to both consumers and enterprising.

Highlights

Officials should strive to achieve clarity in this connection, the regulatory expectations and risk reductions, so that the safe solutions based on AI can be properly and ethically applied to the EU’s financial sector, about the general challenges associated with the use of the instruments take in line with non-comprehensive practices in the form of price adjustments through IA’s tools, this will lead to the Commission monitoring of the Commission’s White Paper
We are referring to public policies when a locally or centrally authority tries with the help of some action programs coordinate to change the socioeconomic and cultural environment of social players
We find different definitions, but all of them agree to one significative aspect – public policy is a consequence of the decisions taken by leaders

Summary

Introduction

Officials should strive to achieve clarity in this connection, the regulatory expectations and risk reductions, so that the safe solutions based on AI can be properly and ethically applied to the EU’s financial sector, about the general challenges associated with the use of the instruments take in line with non-comprehensive practices in the form of price adjustments through IA’s tools, this will lead to the Commission monitoring of the Commission’s White Paper. The Commission intends to consider the issue of cryptocurrencies on, proposing changes to EU’s legislation in the area of financial services, requiring publications to be made systematically available in an automatically readable form.

Results

Conclusion