Notwithstanding the difficulty of this exceptional time, the members of the European Assoication of Co-opeartive Banks (EACB) Digitalisation and the Use of Data Working Group met virtually today Thursday 26th of March to discuss both the Commission's White Paper on Artificial Intelligence (AI) and the European Strategy for Data, especially the digital finance data space.
They had the opportunity to discuss with DG CONNECT and DG FISMA officials both strategic papers, on which consultations were launched on 19 February.
During the exchange, members raised a series of questions tackling aspects such as the scope of the Commission’s policy on (non/personal/industrial/sensitive) data in the banking sector, where most data produced is personal data, the more general upcoming Digital Finance Strategy as well as the Commission’s work on an AI legal framework.
EACB members are committed to participating in both online public consultations, whose current deadline (31 May) they have asked be postponed due the special circumstances caused by Covid-19.
For co-operative banks with their heavily retail and consumer oriented business model, the safeguarding and careful management of their clients data is as important as the safeguarding of their clients’ funds. Co-operative banks have been contributing to the different activities launched and look forward to bringing further contributions to the new Commission’s initiatives on digitalisation.