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Digitalisation and platformisation are causing fundamental changes in the way in which financial products and services are offered and purchased.

This increasing dependence on digital systems, coupled with the trend to outsource digital business processes, leads to vulnerabilities In the financial sector. Big Tech and Fintech parties are driving the changes in the sector. As part of the broader trend of platformisation, traditional financial firms are entering into partnerships with these parties. This development can lead to innovation and cost saving, but it can also cause margin pressure and concentration risks.


New European legislation and regulation is aimed at influencing the direction of various digital developments and addressing potential risks. For example, the Digital Operational Resilience Act (DORA) aims to strengthen the digital resilience of companies, and the Markets in Crypto­Assets Regulation (MiCAR) is a first step in the regulation of crypto-assets.

Artificial intelligence

Applications using artificial intelligence (AI) may involve risks. The possibilities offered by AI are also being used more frequently in the financial sector. The use of AI presents opportunities, because customers can be served more effectively and at lower cost. But the use of AI also involves risks, for instance when it is not clear how an AI model has arrived at a particular result.

The European AI Regulation under development will provide additional reference points to guide the potentially huge impact of AI on financial services to citizens and businesses in a positive direction.

Priority in our supervision

The AFM is prioritising market parties that offer low-threshold products via apps, as well as digital marketing aimed at consumers. We want to prevent consumers being nudged towards products or services that do not primarily serve their interests.

Our supervision of the digital aspects of controlled business operations will be intensified, also due to the arrival of DORA. The arrival of MiCAR means that supervision of cryptos will have to be shaped and residual risks mitigated