The EC adopted an action plan on FinTech.  The term FinTech refers to the new technologies impact in the industry of financial services, and the action plan is to enhance an innovative EU financial sector and it to be more competitive.

The innovations of FinTech enable it to be implemented all over the EU in preparing the financial sector to take advantage of investment opportunities brought by technology. Its primary benefit is to guarantee consumer protection and maintaining a risk-free financial single market for consumer financial services.

The EC aims at ensuring that the financial services are offering to the consumer, proper information on products for them to make appropriate decisions and that there is transparency. The products covered are payment services, credit cards, savings and current accounts, investment products, and insurance.