ECONOMY - FINANCE - BUSINESS / Finance

European financial supervisory authorities weigh up pros and cons of Big Data

Brussels, 16/03/2018 (Agence Europe)

On Thursday 15 March, the joint committee of the three European Supervisory Authorities (ESAs: ESMA, EBA and EIOPA) published a report on the phenomenon of Big Data, analysing the benefits, but also the risks, for consumers and financial companies.

The technology of Big Data consists in the use of highly developed IT tools to deal with large sets of data from social media, internet browsing histories or data generated by the use of payment cards.  The financial institutions are increasingly...