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Cyberfinance: accelerating the use of the Internet in European financial services

Cyberfinance: accelerating the use of the Internet in European financial services

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The Financial Internet Working Group presents an Action Plan aimed at accelerating the development of more open and efficient payment systems, based on Internet architecture and infrastructure.

The purpose of the paper is to provide an initial overview of how the Internet may impact institutional payment systems and securities markets.
The document summarises major recommendations formulated as a result of FIWG activities, including working group meetings, Issues and Position Papers and informal discussions with industry stakeholders.
The FIWG is a forum that brings together financial institutions and technology providers, traditional players and newcomers, public authorities and the private sector. Its aims are: first, to examine key cyberfinance issues and policies, and second, to identify and promote initiatives and projects accelerating cyberfinance development and take-up.

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