The European Association of Co-operative Banks (EACB) and its members welcomes the opportunity to answer to the European Commission Green Paper on retail financial services.
Co-operative banks support a competitive and effective Single Market for retail financial services, which will benefit consumers but also facilitate the conduct of business for European banks. The implementation of the Euro and European payments methods in the context of SEPA have been a very important step towards a Single Market. The emergence of new technologies, such as cloud-based systems, high-speed wireless networks, biometrics or instant payments systems is leading to more efficient banking services and co-operative banks consider this as an interesting opportunity.