Press Release
Brussels, 9 June 2026
Yesterday FEBIS, in collaboration with MEP Giorgos Georgiou, gathered policymakers, industry leaders, business information providers and data experts at the European Parliament to discuss the role of the European Business Wallets (EBWs) and the future of trustful business data in strengthening Europe's competitiveness and enabling a more resilient Single Market.
The discussion was opened by our President, Gertjan Kaart, who painted a picture of the current European landscape and stressed the importance of regulatory harmonisation for businesses to thrive and the role of BIPs as enablers of compliance.
Our distinguished panellists enriched the conversation and shed light on the crucial role of trustful, accessible, and interoperable data to enhance Europe's ability to scale businesses, attract investment, combat fraud and accelerate digital transformation.
As businesses increasingly operate across borders, rely on digital transactions and deploy AI-driven decision-making tools, access to reliable company information is no longer simply a compliance requirement: it is a strategic economic asset.
Every commercial transaction begins with trust. Whether onboarding customers, assessing suppliers, extending credit, managing supply chains or identifying business opportunities, companies need confidence in the information they use to make decisions. BIPs play a critical role in this ecosystem by transforming fragmented data into actionable insights that help companies reduce risk and fraud, scale across borders with greater confidence and support compliance and financial integrity. On this point, Bojana Bellamy, President, Centre for Information Policy Leadership (CIPL), highlighted the importance of recognition of best practices. Businesses using data responsibly need to be showcased and rewarded in order to build trust in the sector and revert the narrative around data sharing.
In today's digital economy, data has become an essential enabler of competitiveness. As Dirk Findeisen, Managing Partner at Rethink Compliance GmbH, stated, businesses that can access and use reliable information are better positioned to innovate, automate processes, adopt artificial intelligence and compete successfully in global markets.
Speakers emphasized that the challenge is no longer the availability of data, but rather its interoperability and accessibility. As Lúcio Vinhas de Souza, Chief Economist and Director of the Economics Department at BusinessEurope, underlined, fragmented systems, inconsistent definitions and differing national approaches continue to create barriers for businesses operating across the Single Market. These obstacles are particularly burdensome for SMEs and sole traders, which form the backbone of the European economy and often lack the resources to navigate complex regulatory environments. He advocated for a real unification of the European market and pointed at it as the only solution to support business growth and attract new capitals.
The EBWs were widely recognised as a promising initiative that could help address these challenges by simplifying information sharing, reducing administrative burdens and enabling trusted cross-border business interactions. However, as Patrice Luscan, Corporate Relations and Public Affairs Director at Coface, pointed out, this tool does not have to add administrative burden to businesses.
The event also explored how better business information contributes to the fight against financial crime and fraud. As Seema Mistry, DT4C Alliance Member and Senior Director, Public Policy & Regulatory Affairs at Dun&Bradstreet, noted, criminal networks often exploit information gaps, fragmented systems and regulatory inconsistencies. Improving interoperability between trusted data sources can help identify risks more effectively and strengthen Europe's economic resilience. Transparency, participants agreed, should not be viewed as a burden but as a key enabler of secure and efficient markets.
The debate concluded with a clear message: trust, competitiveness and economic security are closely interconnected, and all depend on the quality, accessibility and interoperability of business information. Creating a stronger European business information ecosystem will require continued collaboration between policymakers, regulators, businesses and data providers. By fostering trusted data sharing and enabling the effective use of business information, Europe can unlock new opportunities for growth, innovation and job creation.
We would like to express our sincere gratitude to MEP Giorgos Georgiou and his team for hosting this important discussion and for creating a valuable platform for dialogue between policymakers, industry representatives and business information experts. Such exchanges are essential to advancing practical solutions that strengthen Europe's competitiveness, foster innovation and support the development of a truly integrated Digital Single Market.
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