Febis Regulatory Committee has worked over the past weeks on a submission to the EU consultation on the EU Data Strategy unveiled by the Commission early 2020. In this submission paper, Febis insists on major points that are of great importance for credit and business information providers in terms of data access, data quality, fair competition, and technological adaptation.
The paper thus outlines the need to foster access to data and the need not only to invest in data infrastructures , but also to make sure that data can be accessed on a European level without cross-border restrictions or contradictory legislations.
It also stresses that in economic turmoil times, getting better business identification can help prevent cascade liquidations, not only for registered companies but also for sole entrepreneurs and individuals acting in their business capacity.
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