One of the most important topics addressed here at EBAday this week has been E-Identification. It's the kind of topic that could be swept into the "techy" drawer by many bankers, but it's probably the most critical change that all firms are going to face for the next 10 years and beyond in our interconnected world. It would be impossible to imagine security without effective identity management - and yet the world of e-commerce that the financial community supports doesn't have effective identity management and proves repeatedly that its solutions and services are insecure. Change may come biologically and naturally if the world waits long enough. But legislators and regulators today understand more and more that the main means of effecting positive change in the financial sector for the benefit of the consumer and the investor is through regulations. And the regulations in the EU are on their way. With an E-ID Regulation in the pipeline, along with PSD II and new Data Protection regulations that are being worked on, this isn't an initiative of the financial community and doesn't involve the financial community alone because it impacts all businesses across the EU. As so often with more recent regulations, an aim is also to open up the market for greater competition and for new entrants in the general interest of the end-customer. That means that all sorts of new business opportunities and new business models will be generated. The importance of E-Identification has been recognised by the governments of the G-20 countries: that's why the Global Legal Entity Identifier System is already being put in place. The new EU regulation will bring E-Identification down to the level of the individual person for every individual across the 28 EU member states. To find out more, take a look at http://ec.europa.eu/digital-agenda/en/e-identification