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EU banking watchdog sets out 'roadmap' to regulate fintech

Reuters

LONDON (Reuters) - The European Union's banking watchdog set out a "roadmap" on Friday to help plug gaps in how the rapidly evolving financial technology sector is regulated.

New EU rules from January make it easier for start-ups to offer traditional banking services such as payments.

Andrea Enria, head of the European Banking Authority, said the watchdog will analyze the nature of services provided by fintech firms "with a view to ensuring that similar services, entailing comparable risks, are regulated in a consistent way across the EU".

The watchdog, which helps the bloc flesh out banking rules, will report on its assessment by the end of the year.

(Reporting by Huw Jones; editing by Jason Neely)