Joint ESAs Report - Stocktaking of BigTech direct financial services provision in 2023

In 2023 the European Supervisory Authorities (ESAs) conducted through the European Forum for Innovation Facilitators (EFIF) a cross-sectoral stocktake of BigTech subsidiaries carrying out financial services in the European Union. The work was carried out in accordance with the ESAs’ mandate to monitor innovation in the financial sector, and as one of the EFIF’s work priorities for 2023 as a follow-up to the ESAs’ 2022 joint-response to the EC’s Call for Advice on Digital Finance (the CfA response).